Information Strategy – Points to Consider

Because a successful strategy is based on reliable and timely information a vital task of senior management is to organize an efficient information apparatus. The final goal is to achieve information visibility vis-à-vis the competition.

To achieve this management could take the following steps:

1. Formulate an information strategy which is based upon the strategic goals of the company. Preferably covering a period of at least 3 years. Because it is impossible to do everything at the same moment a Focus has to be established and a limited number of main search directions have to be selected;

2. Appoint a Strategic Business Information Manager who will be responsible for a small group of professionals who are dedicated to acquiring strategic business information for senior management;

3. Keep in mind that the source of the most important information is the Market;

4. Ensure that the organization never underestimates the capacities of the competition;

5. Make it a strict rule that in reports facts and opinions or estimations are always clearly separated;

6. Stimulate developing the ability to draw a distinction between essentials and matters of secondary importance;

7. Stimulate a sober use of the communication channels. Teach people to formulate briefly, precisely and unambiguously;

8. Stimulate informal communication as a method to overcome friction;

9. Be aware of the possibility of information deformation;

10. Even with the intense modern capabilities to acquire information, be aware that information-gaps can always occur;

11. Even in the most favorable conditions there will always be an element of insecurity, because we live in a dynamic insecure environment. This insufficiency can only be compensated by means of vision, skill, intuition and leadership.

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