IT102_MIDTERM EXAM

It is the combination of social, legal, economic, physical, and political factors in which businesses conduct their operations.

It is becoming more diversified, increasing number of women, single parents, minorities, and persons with disabilities are now employed in all types of positions.

It recognizes the importance of customers and has increased the efforts to acquire and retain them.

It is a broader concept, refers to servicing customers, collaborating with business partners, and performing electronic transactions within an organization.

It also produces a large quantity of items, but it customizes them to fit the needs and preference of individual customers; simply an attempt to perform make-to-order in a large scale.

It describes the process of buying, selling, transferring or exchanging products, services, or information via computer networks, including the Internet.

It is the foundation of many information technology systems; technology components are used to complement or substitute for manual information management processes with the intent of gaining cost efficiencies.

Its purpose is to help enterprises become more agile and effective by enabling them to better understand, manage, and adapt their business processes.

It determines the range of profitability of the average competitor and can be very difficult to change.

It involves the evaluation of strengths and weaknesses, which are internal factors, and opportunities and threats are external factors.