Countrywide Financial enabled Bank of America to extend its mortgage lending business and to tap into a large pool of new customers who might be interested in its credit card, consumer banking, and other financial products. This scenario is an example of how information systems help businesses use synergies to achieve competitive advantage.
Explanation:
Any business in the current business environment is affected drastically by the information systems. The awareness about the information systems helps an entrepreneur to get top know about the new technologies and the operation of their competitors in such environment. Information technologies plays many different roles in business environment.
The structure of any industry can be changed and new rules can be implemented based on the competition. The information system can make any companies to create or achieve competitive advantage and perform their functions. It can also helps in changing the technology that is being practiced in a business for a long term.
