We define information technology (IT) to include not only computer technology (hardware and software) for processing and storing information, but also communications technology for transmitting information. Advances in computer and communications technologies have enabled firms to pursue IT investments. This will help them to gain maximum advantage from their knowledge assets-to leverage the knowledge of individual employees to the benefit of other employees and the organization as a whole. Businesses have strived to achieve a competitive advantage in the past by competing in one of two ways:1. By Cost- by being a low-cost producer of a good and service2. By Differentiation of a product or service- by competing on customer perceptions of product quality and customer support services.Information technology is an integral part of many companies day to day operations. By the 1990's, applications of IT were widespread and sophisticated enough to enable firms to compete in other innovative ways. Whereas in the past firms had to choose between a low-cost and a differentiation strategy, today IT enables firms in some industries to compete on both low cost and product differentiation simultaneously. Further, some firms are attempting to compete not only on both low cost and high quality, but also on the ability to make highly varied customized products. Referred to as "mass customization," IT is used to rapidly link processes and work groups in order to produce customized products that are exactly what a customer wants.Evans Consoles, a Calgary based manufacturing firm, is a prime example of how, and where information technology is implemented and utilized in terms of strategic advantage and strategic plans. Founded in 1980, Evans is recognized worldwide for its expertise in the design and manufacture of technical furniture, desks and computer consoles for specialized environments such as data and control centers, trading floors, com...
