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Describe in detail the ways that telecommunications technology can provide a firm with a competitive advantageA competitive advantage can be achieved by enhancing the firms ability to deal with customers suppliers substitute products and services and new entrance into its market A firm may find it difficult to keep informed of all changes taking place within its industry but with the proper telecommunications system a firm could easily gain a competitive advantage over their competitors Telecommunications can be defined as a communication of information by electronic means usually over some distance and much of todays telecommunications are in the forms of digital data that is transmitted from the location to another using computers In todays society businesses are using several forms of telecommunications such as the information superhighway wireless technologies ie cellular telephones local and wide area networks and more familiar forms of communications such as the faxes voicemail and teleconferencing These developments in the world of telecommunications are changing the way in which we work and live Telecommunications can provide firm competitive advantage in many different ways The first and probably most obvious way that telecommunications provide the competitive advantage is through the amount of time saved by an organization Telecommunications can enable a firm to transmit raw data and information quickly and accurately between remote sites As a consequence any number of business procedures that would otherwise rely on other media such as mail with telephone may be rethought an accelerated Or filling for example can be done rapidly if the order is transmitted from a laptop infield directly to warehouse By reducing information flow weekend raise the quality of decision-making For example as point-of-sale data become available to retailers executives in the form of analytic reports merchandising functions is vastly improved The national newspaper USA is at it and composed at headquarters of its publisher Gannett Corp in Arlington VA and transmitted over the satellite network to 36 printing plants in United
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