After reading Chapter 3 and PPT Lecture respond to the following questions. Cite

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After reading Chapter 3 and PPT Lecture respond to the following questions. Cite where appropriate.
How do Porter’s competitive forces model, the value chain model, synergies, core competencies, and network economics help companies develop competitive strategies using information systems?
Define Porter’s competitive forces model and explain how it works.Describe what the competitive forces model
explains about competitive advantage.
List and describe four competitive strategies enabled by information systems that firms can pursue.
Describe how information systems can support each of these competitive strategies and give examples.
Explain why aligning IT with business objectives is essential for strategic use of systems.
Define and describe the value chain model.
Explain how the value chain model can be used to identify opportunities for information systems.
Define the value web and show how it is related to the value chain.
Explain how the value web helps businesses identify opportunities for strategic information systems.
Describe how the Internet has changed competitive forces and competitive advantage.
Explain how information systems promote synergies and core competencies.
Describe how promoting synergies and core competencies enhances competitive advantage.
Explain how businesses benefit by using network economics and ecosystems.
Define and describe a virtual company and the benefits of pursuing a virtual company strategy.
Define and describe business ecosystems and platforms

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