Abstract
M.Comm.
The Financial Services industry is in the throes of significant changes and challenges. Managers confronted with the metoric of the "information age" may experience a variety of emotions, ranging from excitement to suspicion or even outright scepticism. What has changed is that more and more businesses are defining their strategies in terms of information or knowledge. Today we hear and read much about "the learning organisation", "working knowledge", "knowledge networks", "business ntelligence", "competitor intelligence". These concepts may be popular to all but to executives they need to be clear — they make strategic decisions. Executives must realise these MIS, CIS and Expert Systems, are more than tools, they are a way of
life, a way to gain strategic competitive advantage in a new market — called global isation.
Managers need to rely on knowledge to make decisions and add value to the financial performance and use their collective experience without becoming bogged down in methodological or technological complexity. Biggest is no longer necessary the best. Today it is often more profitable to focus attraction the best customers than to attempt to reduce cost. Executives should be cautious, even suspicious; of the technological and
software solutions being offered and sceptical that one concept can do it all. This is not surprising because we are dealing with knowledge, information and above all people. Add these together and we are to paraphrase the physicist, Freeman Dyoon, "infinite in all direction". Nevertheless companies understand that past experience has shown that common purpose, culture and focus can mobilise people for profitable and personally rewarding creativity and achievement. The future competitive landscape demands no
less!