Individual Assignment 1 1
a) There is a growing movement within business and the public sector to treat information as a key shared asset in the same way as property or finance. Assess how information management can be used to increase an organization`s efficiency and competitiveness.
Since the beginning of trade and commerce, entities have tried to improve their position within the market through information management. Even during the days of batter trading to ensure that what one received was equal in value to what one gave was through effective information management. Information management (IM) has been defined as the means by which an organisation efficiently collects, organizes, uses, controls disseminates and disposes of its information (O’Brien, 2003). The more sophisticated and seamless the organization’s information management the more effective it is, this also in turn could result in an increase in its competitive advantage. Organizational effectiveness has been described as its ability to perform functions with optimal levels of input and output (Gish).1 In essence if the organization inputs little and translates that into affordable products or services that are in high demand, its IM is highly effective. This assignment will assess how IM can be used to increase the chances of the outcome just highlighted. It will illustrate how the use of appropriate information systems (IS)2 at various levels within an organization can be used to achieve effectiveness thereby increasing the competitive advantage. It will also look at the pitfalls of IS implementation and poor IM and how these can have an adverse effect on profits and ability to generate those profits.
As stated earlier IM has been a significant tool in trading and commerce since the beginning of time. However what sets an organization apart is its ability to change data into information as efficiently and cost effectively as possible. Before we tackle this issue, defining data and information is
Since the beginning of trade and commerce, entities have tried to improve their position within the market through information management. Even during the days of batter trading to ensure that what one received was equal in value to what one gave was through effective information management. Information management (IM) has been defined as the means by which an organisation efficiently collects, organizes, uses, controls disseminates and disposes of its information (O’Brien, 2003). The more sophisticated and seamless the organization’s information management the more effective it is, this also in turn could result in an increase in its competitive advantage. Organizational effectiveness has been described as its ability to perform functions with optimal levels of input and output (Gish).1 In essence if the organization inputs little and translates that into affordable products or services that are in high demand, its IM is highly effective. This assignment will assess how IM can be used to increase the chances of the outcome just highlighted. It will illustrate how the use of appropriate information systems (IS)2 at various levels within an organization can be used to achieve effectiveness thereby increasing the competitive advantage. It will also look at the pitfalls of IS implementation and poor IM and how these can have an adverse effect on profits and ability to generate those profits.
As stated earlier IM has been a significant tool in trading and commerce since the beginning of time. However what sets an organization apart is its ability to change data into information as efficiently and cost effectively as possible. Before we tackle this issue, defining data and information is
References: 4) O’Brien, J.A. (2003) Introduction to Information Systems: Essentials of the E-business Enterprise. 11th Edition. International edition: McGraw-Hill Irwin. Boston 5) Volberda, H. W., Morgan, R. E., Reinmoeller, P., Hitt, M. A., Ireland, R.D. & Hoskisson, R. E. (2011) Strategic Management: Competitiveness and Globalization (Concepts Only). South-Western: CENGAGE Learning. Singapore