Reflect upon the IT strategies that are used to encourage economic development. Select two strategies and discuss how economic factors affect the strategies that a government may use to facilitate economic development.Choose the strategies that seem to be complementary to one other and could be implemented simultaneously. Justify your response. Using the three-step process for assessing the IT organization, determine the impact of economic factors at the enterprise level for each step.Give your opinion as to which critical element of strategy (people, process, or technology) is the most important. Justify your answer. Evaluate the patterns of behavior of early adapters versus followers. Determine the pattern of behavior that leads to a competitive advantage. Justify your response.Give your opinion as to whether “Heat Seekers” and “Followers” could coexist within the same organization. State the negatives and positives associated with both patterns of behavior. Getting to know the industry in which a company operates is a critical factor for leveraging information systems and gaining a competitive advantage. Speculate as to how information systems can be leveraged in a particular industry. Analyze how time of entry, industry trends, corporate culture, and other factors affect competitive advantage. Explain your answer.Evaluate the competitive applications of technology. List and describe three applications and how these can be applied to the information systems industry.