Management information system BD 1 Essay Example | Topics and Well Written Essays - 250 words

Management information system BD 1 - Essay Example According to research, there are four strategies for competitive advantage namely cost leadership, differentiation, Low-Cost focus and differentiation focus. Cost leadership entails a business being the cheapest provider of products while differentiation is about provision of unique products. Low cost focus resembles cost leadership with the difference being that it focuses on a niche market. Differentiation focus resembles low cost focus but also includes marketing a product in some unique way. Payoneer Inc. applies low cost focus and differentiation in promoting its competitive advantage. Low cost focus is performed through offering the cheapest transactional charges for global transactions. With differentiation, the company provides MasterCard services which very few banking companies in the world offer. On the other hand, Nokia Inc. applies low cost focus to deliver phone repair services and differentiation focus through provision of unique windows phones (Khosrowpour, 2006). Through the different application of technological approaches both Nokia and Payoneer have become globally recognized companies. Possible Payoneer possibilities of security breach and computer crimes include fraudulent use of MasterCard while Nokia faces that of hacking into their online systems (Sarlak & Hastiani,