Investments in information technology can allow a business to lock in customers and suppliers, and lock out competitors, by building valuable new relationships with them.

Question

Quizplus · Accepted Answer

Investments in information technology can allow a business to gather valuable data about customers and suppliers, which can be used to create personalized experiences and build trust. This in turn can lead to increased loyalty, making it harder for competitors to steal market share. Additionally, technology can be used to streamline supply chain management and build stronger partnerships with suppliers.

Investments in Information Technology Can Allow a Business to Lock