- 28 Aug 2019
- 1 Minute to read
Vision 2022 in Strategic Management
- Updated on 28 Aug 2019
- 1 Minute to read
Lead your organization's full potential to creating results
Development of Strategic Management applications will continue to be strong, with the most significant areas of development being 1) automation 2) strategy tools, tracking, prediction and execution 3) collecting and sharing of internal knowledge, and 4) combined applications.
Robotization will automate internal and external business data collection. At the same time, the amount of data being collected is increasing rapidly. Artificial intelligence applications will filter and analyze data faster and faster. At the same time, data processing continues to evolve. Applications can refine data to essential, concise, meaningful knowledge and draw conclusions. This trend will reduce the need for studies and reports created by consultants. At the same time, internal monitoring resources within companies can be utilized for the necessary human input, e.g. analyzing and using the data.
Tools for strategy, tracking, prediction and execution
As the application’s ability to predict the business environment evolves, it will support a variety of scenarios, simulations and early-warning indicators. Applications will link external and internal data in order to plan strategy, actions and results. This enables simultaneous examination of different areas from different perspectives. Applications will also have features which will increase the efficiency of management processes. These new strategy and management functionalities will reduce the need for general purpose consulting.
Collecting and sharing of internal knowledge
Applications for collecting and sharing knowledge within an organization, as well as communication applications will become more common, as will applications with social media elements, that will integrate into the systems that support strategic management. This will enable essential information extraction, commenting and rating and will encourage a culture of monitoring the operating environment.
The above-mentioned trends will lead to a wide range of different aspects that link strategic management system applications. These will increasingly replace current narrow-ranging applications which have fragmented and multi-channel solutions.