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  1. 1. Information, strategy and strategic management Block 1 : Lecture 2
  2. 2. <ul><li>This lecture will take a quick overview of: </li></ul><ul><ul><li>Information </li></ul></ul><ul><ul><ul><li>What is Information? </li></ul></ul></ul><ul><ul><ul><li>Information literacy </li></ul></ul></ul><ul><ul><ul><li>Building blocks of information </li></ul></ul></ul><ul><ul><li>Strategy </li></ul></ul><ul><ul><ul><li>What is strategy? </li></ul></ul></ul><ul><ul><ul><li>Elements of Strategy </li></ul></ul></ul><ul><ul><li>Strategic Management </li></ul></ul><ul><ul><ul><li>What is Strategic Management? </li></ul></ul></ul><ul><ul><ul><li>Elements of strategic management </li></ul></ul></ul>Overview of Lecture
  3. 3. What is Information? &quot;One can have information without knowledge, but it is impossible to have knowledge without information.  Information literacy is knowing where and how to find the information sources as well as how to locate the information within those sources; how to determine whether the information found is accurate, reliable, and valid; and how to use that information to further knowledge.&quot;  (Waggoner)
  4. 4. Information Literacy To be information literate, a person must be able to recognize when information is needed and have the ability to locate, evaluate, and use effectively the needed information.
  5. 5. <ul><li>Tool literacy – </li></ul><ul><ul><ul><li>The ability to use print and electronic resources including software. </li></ul></ul></ul><ul><li>Resource literacy – </li></ul><ul><ul><ul><li>The ability to understand the form, format, location and access methods of information resources. </li></ul></ul></ul><ul><li>Social-structural literacy – </li></ul><ul><ul><ul><li>Knowledge of how information is socially situated and produced. It includes understanding the scholarly publishing process. </li></ul></ul></ul><ul><li>Research literacy – </li></ul><ul><ul><ul><li>The ability to understand and use information technology tools to carry our research including discipline-related software. </li></ul></ul></ul>Building Blocks of Information
  6. 6. <ul><li>Johnson and Scholes </li></ul><ul><ul><ul><li>&quot;Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations&quot;. </li></ul></ul></ul><ul><li>What is strategy? </li></ul>
  7. 7. <ul><li>Where is the business trying to get in the long-term ( direction) </li></ul><ul><li>Which markets should a business compete in and what kind of activities are involved in such markets? ( markets/scope ) </li></ul><ul><li>How can the business perform better than the competition in those markets? ( advantage ) </li></ul><ul><li>What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? ( resources ) </li></ul><ul><li>What external, environmental factors affect the businesses' ability to compete? ( environment ) </li></ul><ul><li>What are the values and expectations of those who have power in and around the business? ( stakeholders) </li></ul>Elements of Strategy
  8. 8. What is Strategic Management?
  9. 9. <ul><li>Understand customers </li></ul><ul><ul><ul><li>Who they are and what they want in the future </li></ul></ul></ul><ul><li>Identify factors critical to long term success </li></ul><ul><li>Visualize business in five to ten years </li></ul><ul><li>Identify impediments to success </li></ul><ul><li>Assess the impact of operational decisions in the long term </li></ul><ul><li>Analyse competitors strategies </li></ul><ul><li>Assess strength, weaknesses, opportunities and threats </li></ul><ul><li>Assess current skill set within organisation </li></ul><ul><li>Assess skills and abilities required to meet strategy objectives </li></ul>Elements of Strategic Management
  10. 10. Next Week Block 1 : Lecture 3 strategic managers