Question 1
There are two main types of strategies for cost that are in use today: product differentiation and cost leadership. Product differentiation leverages differences in the product to drive unique value to consumers and decrease the focus on costs per unit. Cost leadership, on the other hand, looks to reducing the costs of doing business to a point where the business carries the lowest costs in the industry.
Select one of these two strategies and share an example of how you would use it to decrease your overall costs and increase your revenues if you were CEO for a day.
Question 2
Over the last ten weeks we conducted a broad exploration of the world of managment information systems. As noted in the week 01, "This class won't make you a technical wizard", but by now you should have a strong understanding of the role of infomation technology in business today. Take a moment and reflect on all you learned. Share with the class at least one new concept you found particularly insightful. Explain why it sparked your interest.