1.2-1 What is Strategy?

Question 1

What is Strategy?

Answer 1

• Long-range Policy designed for a Particular Purpose
• Process of planning something/ carrying out a plan in a skilful way
• Framework:
  States the Objectives of an organization’s vision to maintain & sustain a competitive advantage

To be effective, Strategy must be Specific and drive decisions about:

• what markets to serve
• what products or services to include in the company’s offerings to the markets
• how to price and market those products to customers
• future products, services,and markets (a strategic orientation)

Question 2

Predictive Analytics

Answer 2

Determining Patterns from data to help Predict Future directions or outcomes

Question 3

(3) Dimensions of IT

Answer 3

1. IT
2. Management
3. Organization

Question 4

Aligning Information Systems

Answer 4

Because of the pervasiveness and importance of information systems in the business environment, businesses must ensure that their information systems strategies align with the overall business strategy

Aligning information systems and the overall business strategy starts with:

1. The board of directors
2. IT steering committee
3. Good governance