CMI Level 7 Diploma: Unit 7004 Main Assignment
Introduction: The following assignment explores the importance of using information to inform and support strategic decision making to achieve organisational goals and objectives as set out by unit learning outcomes (LO) pertaining to this unit 7004. These four learning outcomes are to: LO1: Be able to understand the impact of management information on decision making; LO2: Be able to understand the importance of information sharing within the organisation; LO3: Be able use information to inform and support strategic decision making; and LO4: Be able to monitor and review management information. In order to achieve these learning objectives, the writer has drawn upon from his practical work
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3 1.1. 1.2. 1.2.1. 1.2.2. 1.3. 1.4. Data and information as source of management information ............................................................... 3 Gathering management information and making decisions ................................................................ 4 Environment Scanning ...................................................................................................................... 4 Management Information and Decision Making .............................................................................. 5 Managing Information Systems at DTZ ............................................................................................... 6 Strategic Importance of Information management at DTZ................................................................... 7
2. Understanding the importance of information sharing within the organisation .................................. 8 2.1 2.2 2.2.1. 2.2.2. 2.2.3. 2.2.4. 2.3 2.4 Determining Information need of users at DTZ.................................................................................... 8 Sharing of Information within organisation ......................................................................................... 9 Information security consideration .................................................................................................. 9 Ethical Consideration
Information Management has to do with capturing information, efficient planning, organizing and evaluating the information to interpret for an organization to make well informed decisions. (Hinton, 2006) The main reason organizations depend on information is to improve its overall management in
According to C. Cashmore and R. Lyall (1991), information needs of managers across the organisation can be linked to the decisions they make. They suggest these can be split into two broad categories:
Data is very important and critical to any organisation, so is in the telecommunication industries. Information that can be easily used must be available so that the decisions makers within an industry can make informed decisions based on visible facts projected by the data available. If this is not the case, decision-making processes can become extremely challenging and, in some cases, impossible. The flow of information within an organization is critical to the success of that organization (Davenport & Prusak, 1998). Organizations struggle in collecting data, retrieving information and making decisions based on the extracted information. A decision making process consists of making judgments based on the qualitative data.
This report demonstrates the evaluation of current performance of JD Sports Company. Method of Analysis includes Ansoff’s matrix and Porter’s generic growth strategies to discuss the nature of the market which JD Sports invest in. The financial methods are including the flexibility and stability of JD sports which judged by the liquidity, current ratio, operation capital, gearing and profit margin of this company. These figures could be collected from the annual report or balance sheet. This report analyzed the JD sport’s position in the market, and used generic and external growth method to expand market size. Such as acquired a lot stores to improve business profitability. Obviously, JD has expanded to the European
As technology is continously changing so is the amount of information produced as well. The way organizations store this information and how its accessible is crucial for the company. Managing such information can make the difference of the company survival and also to be able to stay abeast in its market. According to Lohrey, Jackie (2017) " Information is a critical business resource and like any other critical resource must be properly managed. Constantly evolving technology, however, is changing the way even very small businesses manage vital business information." Organizations have to become equipped with the essential resources available to increase efficiency and improve productivity. This will help the output of the company, cut cost,
Information is used in nearly all of the activities of organizations and establish the foundation for decisions making on strategic and operational levels (Haug, Zachariassen and Liempd, 2011). But the lack of proper communication and updating information can progress results in losing time on important factors and in frustration (ROWLEY, 1998). Although poor information management can have a negative significant impacts on the organisation competence, excessive infromation quality is a regularly vital with the organization success (Even and Shankaranarayanan, 2009). However, many industries experts’ surveys reveal that information management is part of the organization, to which several organizations appear not to provide plenty of attention or understand how to allocate with professionally (Marsh, 2005; Piprani & Ernst, 2008). Meanwhile Eppler and Helfert (2004) dispute that though there are many writings claiming that the cost of poor information management can be important in many organizations, only few findings reveal in what way to categorize, distinguish, and measure the costs of poor information management, meaning to create links casually between economic effects and poor information management (Eppler and Helfert(2004). This report will explore the following topics: Framework of Information Management, How Organization incur cost, Information quality and Impact of poor quality, The Cost and Maintenance of Poor Information effort and how the cost of information
The purpose of this report is to explain what “Management Information Systems” (MIS) is. This report will discuss how management information system helps different departments in an organization. The functions and advantages of using MIS will also be examined in this report.
Microsoft Corporation is a public multinational corporation headquartered in Redmond, Washington, USA that develops, manufactures, licenses, and supports a wide range of products and services predominantly related to computing through its various product divisions. Established on April 4, 1975 to develop
This document is an evaluation report prepared for Information Management and Technology Strategy of VicRoads for the duration 2012 to 2014. Information Management and Technology (IM&T) is considered to be an important business enabler for delivering VicRoads Strategic directions from 2012 to 2014. The principles briefed in the IM&T report deliver guidelines for the usage, management and implementation of IM&T resources, assets and services across VicRoads (VicRoads, 2013).
The report aims to address the issue of information management within Lanway. Information, may feel is the most important resource any firm has, yet many firms have no appreciation of the cost, value or importance of the information they hold.
Globalization changes have impacted Burger King in the following ways; since the company began in 1953 with its first restaurant in Jacksonville, Florida and opened several locations across the United States, the company began its international expansion in 1969 with its first international franchise location in Canada, followed by Australia in 1971, and Europe in 1975. The setting up of franchises outside the United States was as a result of fast food opportunities arising outside the United States. So as to fully integrate in the international market, Burger King had to adopt and embrace
When people talk about information management, what is the first thing that comes in their mind? A person might say that information management be situated as an individual or organisation managing information. But, do they know that there is more than just managing information in the information field? However, just like everybody else, the same thought has comes across my mind when I first heard of the words information management a few years ago. But the thought has changed ever since I realised how essential information is. As of now, we live in the information age where information is a necessity and is vital for us in order to become a somebody that is not only has a lot of knowledge but also to become an individual that know how to manage and to
By collecting and analysing the information found, organisations can keep track of their management system to create opportunities and improve on any shortcomings, making their business more efficient and effective.
Future- oriented: Strategic management encompasses forecasts, what is anticipated by the managers. In such decisions, emphasis is placed on the development of projections that will enable the firm to select the most promising strategic options. In the turbulent environment, a firm will succeed only if it takes a proactive stance towards change.