The purpose of this paper is to investigate the relationship between integrative technologies and the corporation's ability to remain or gain a competitive advantage in today's fast‐paced global economy.
The authors' professional experience, extensive literature review, and personal communications on the subject provided the foundation for this research.
The global business environment requires corporations to use a variety of information and communications technologies in order to coordinate and control all activities in its global operations. In order to be competitive, firms are implementing new technologies such as enterprise resource planning (ERP), ERP II, and radio frequency identification to reduce the cost of doing business by improving operational efficiencies, establish better relationship with their business partners, as well as effectiveness by quickly responding to changes in the marketplace. Challenges and benefits of implementing these technologies by both manufacturing and service organizations are explored and examined in this paper.
Low‐cost and differentiation strategies require corporations to integrate information and communications technologies to streamline processes both within the firm and between business associates. A considerable amount of time and capital is required for acquisition and implementation of the new technology but the return on the investment is significant in the long run. Top management participation, change in management, and employee training are critical success factors in successful utilization of technology.
The paper provides useful information with regards to the importance of technology in sustaining or gaining a competitive advantage in the marketplace.
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