Information Systems, Organizations and Strategy

  Before this class, the lecture mentioned a question: " Why are you unique?". He said everyone is unique. I strongly believe it's right. But when he asked me why I was unique, I don't know how to answer. Until I sit here to write this blog, I still confused about this question. Maybe my unique point is I don't know why I'm unique. However, I won't give up finding out the answer as I think something must different from others.
  I learned that 5 forces in business environment:
  Competitive Rivalry. This looks at the number and strength of your competitors. How many rivals do you have? Who are they, and how does the quality of their products and services compare with yours? Where rivalry is intense, companies can attract customers with aggressive price cuts and high-impact marketing campaigns. Also, in markets with lots of rivals, your suppliers and buyers can go elsewhere if they feel that they're not getting a good deal from you. On the other hand, where competitive rivalry is minimal, and no one else is doing what you do, then you'll likely have tremendous strength and healthy profits.
  Threat of New Entry. If it takes little money and effort to enter your market and compete effectively, or if you have little protection for your key technologies, then rivals can quickly enter your market and weaken your position. If you have strong and durable barriers to entry, then you can preserve a favorable position and take fair advantage of it.
  Threat of Substitution. This refers to the likelihood of your customers finding a different way of doing what you do. For example, you are a member of Uber, and the customer don't ant to choose your service but choose bus, train.

  Supplier Power. This is determined by how easy it is for your suppliers to increase their prices. How many potential suppliers do you have? How unique is the product or service that they provide, and how expensive would it be to switch from one supplier to another? The more you have to choose from, the easier it will be to switch to a cheaper alternative. But the fewer suppliers there are, and the more you need their help, the stronger their position and their ability to charge you more. That can impact your profit.
  Buyer Power. You need to ask yourself how easy it is for buyers to drive your prices down. How many buyers are there, and how big are their orders? How much would it cost them to switch from your products and services to those of a rival? Are your buyers strong enough to dictate terms to you? When you deal with only a few savvy customers, they have more power, but your power increases if you have many customers.