An overview of the role of information technology in strategic management: Part 2
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Strategic management of the firm includes the strategic management of information technology in the context of business relationships. Firms do not exist in isolation. Multiple constituents make up a relationship network that constitutes the vital resources needed to fulfil the mission of a business. To leverage a firm?s business relationships effectively, a relationship ?lens? is needed that can act as a guiding process for strategy creation and tactical fulfilment. In order to engage and manage each business relationship and to execute relationship strategies, the relationship engagement cycle (REC) creates the phases necessary to acquire, learn about, and build memorable experiences with each relationship and to establish trust and loyalty with the most valuable relationships. Information technology, in many various forms, is a key strategic enabler of the REC.
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