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What's information management?

Not all organizations have clear responsibilities for knowledge and data.  Information management is how data is selected, modified/changed and saved. It’s important to have process for archiving data as well.

 

When new organization starts more advanced information management it must recognize sources and ways how data is modified.  There are systems like ERP and business intelligence to save and organize data easily. Theoretical background can be for example Nonaka and Takeuchi’s Knowledge sharing spiral. It comes from knowledge management, but is also related sociological research.

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What kind of decisions there and skills to learn?

Quick decisions are normally happening all the time, for example annual leave applications, price changes for existing portfolio. Of course situations, products and organizations are different also in these.  More demanding decisions include especially organizational changes including new hires or outsourcing certain part of the functions.

 

Decisions can be made by individuals or groups. Strategic decisions are most likely within bigger groups. You can use methodologies and tools to make decisions. Think about in strategic analysis scenarios and design thinking or workshop for idea generation.

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What makes analytics and data important?

You must understand where to get and how to use statistical data. Simplest way is only use statistics (standard deviation, regression, comparison to trends etc), but you can also SPSS or hypothetical methods.  Most mathematical analysis is more simple, but note that if you want to estimate potential or probabilities it becomes more difficult.

 

Note also in selecting estimates is highly subjective. This will affect for example in cost-benefit analysis you might do.  Pay attention to research methodologies how data is collected especially in public sources. Data structures are not only related to systems. It’s also question about inclusion or exclusion in statistics and analysis.

To gain needed skills, take my Strategic Project Management course!

What kind of skills are needed in strategic management?

Since big part of the strategy is planning, Alison Doyle lists what kind of skills are needed in this process:

1. Analytical: use and get data, sometimes it’s about calculating and sometimes about knowing the relevance,

2. Communication: know how to impact and talk, understand also methodologies and tools,

3. Decisiveness: delegate and setup priorities, where to go,

4. Leadership: have energy and motivate, also you as a person,

5. Problem solving: know about brainstorming but also things like creativity and multitasking, ability to manage your own stress and

6. Others with high scale: projects, processes, human resources, finance, auditing, etc.

 

Remember these when you work in the area of strategic management. All skills have their place, you need to understand different parts.

 

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