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Informative providing of strategic choice

Author

Listed:
  • Liubov Lipych
  • Oksana Khilukha
  • Myroslаvа Kushnіr

Abstract

An important task of management is to create a system of information support. It allows you to collect and process internal and external information necessary to make informed strategic choices regarding the insurance of strategic development. The purpose of the article is to review modern approaches to defining the essence of the concept of information support and identification of the main aspects of the formation of an effective system of information support for the process of strategic choice of the enterprise. The article states that in terms of information support of strategic choice, information support is to provide information in the manner prescribed by law, in the process of which on the basis of information systems and using principles, methods, techniques, rules, schemes and algorithms its collection, processing, accumulation, storage, transfer and use in an amount sufficient to make decisions optimal for the enterprise. Forms of information support at all stages of strategic choice with indication of specific tools are substantiated. The model of the strategic selection process shows that information support allows you to quickly import data related to the detection of problems coming from different sources. It has been proven that with the help of IT systems that support strategic choice, it is possible to record and process large amounts of data generated in all functional structures of the enterprise. Access to hidden information, often difficult to access, is a determining condition for making rational decisions about enterprise development. The set of received information (both secondary and primary) is a knowledge base. The generated knowledge determines the behavior of the enterprise. Trust in information is transformed into the quality of knowledge, and the latter into the accuracy of strategic decisions, which is reflected in the achieved economic results of the enterprise. Emphasis is placed on the fact that strategists should be provided with information systems focused on the perception and interpretation of weak signals. This is the information basis of the strategic selection process. By receiving information that reduces uncertainty, the manager has the opportunity to make rational decisions

Suggested Citation

  • Liubov Lipych & Oksana Khilukha & Myroslаvа Kushnіr, 2021. "Informative providing of strategic choice," E-Forum Working Papers, Economic Forum, vol. 11(1), pages 134-141, January.
    • Handle: RePEc:cuc:eforum:v:11:y:2021:i:1:p:134-141
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    References listed on IDEAS

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    1. Kenworthy, Thomas P. & Verbeke, Alain, 2015. "The future of strategic management research: Assessing the quality of theory borrowing," European Management Journal, Elsevier, vol. 33(3), pages 179-190.
    2. Alain Verbeke & Vincent Tung, 2013. "The Future of Stakeholder Management Theory: A Temporal Perspective," Journal of Business Ethics, Springer, vol. 112(3), pages 529-543, February.
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