MANAGEMENT INFORMATION SYSTEM

QUESTION ONE: BUS 422 2008/ 2009 SESSION

Define information and discuss some benefits of information management as it affects management in decision making.

SOLUTION TO QUESTION 1

Information in its most restricted technical sense is an ordered sequence of symbols. As a concept, however, information has many meanings. Moreover the concept of information is closely related to notions of constraint, communication, control, form, instruction, knowledge, meaning, mental stimulus, pattern, perception and representation.

The English word was apparently derived from the Latin accusative form (informationem) of the nominative (information): this noun is in turn derived from the verb “informare” (to inform) in the sense of “to give form to the mind”, “to instruct”, “teach”. “Men so wise should go and inform their kings.” (1330) Inform itself comes (via French) from the Latin verb informare, to give form to, to form an idea of. Furthermore, Latin itself already contained the word information meaning concept or idea, but the extent to which this may have influenced the development of the word information in English is not clear.

The ancient Greek word for form was µορϕή (morphe: cf. morph) and also ε□δος (eidos) “kind, idea, shape, set”, the latter word was famously used in a technical philosophical sense by Plato (and later Aristotle) to denote the ideal identity or essence of something (see theory of forms). “Eidos” can also be associated with thought, proposition or eve concept.

As an influence which leads to a transformation

Information is any type of pattern that influences the formation or transformation of the other patterns. In the sense, there is no need for a conscious mind of perceive, much less appreciate, the pattern, for example, DNA. The sequence of nucleotides is a pattern that influences the formation and development of an organism without any need for a conscious mind. Systems theory at time seems to refer to information in this sense, assuming information does not necessarily involve any conscious mind, and patterns circulating (due to feedback) in the system can be called information. In other words, it can be said that information in this sense is something potentially perceived as representation, though not created or presented for the purpose.

If however, the premise of “influence” implies that information has been perceived by a conscious mind and also interpreted by it, the specific context associated with this interpretation may cause the transformation of the information into knowledge. Complex definitions of both “information” and “knowledge” make such semantics and logical analysis difficult, but the condition of “transformation “is an important point in the study of information as it relates to knowledge, especially in the business discipline of knowledge management. In this practice, tools and processes are used to assist a knowledge worker in performing research and making decisions, including steps such as:

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   Reviewing information in order to effectively derive value and meaning               

-          Referencing metadata if any is available

-          Establishing a relevant context, often selecting from many possible contexts

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 Deriving new knowledge from the information

-          Making decisions and recommendations from the resulting knowledge.

Stewart (2001) argues that the transformation of information into knowledge is a critical one, lying at core of value creation and competition advantage for the modern enterprise. The Danish Dictionary of Information terms argues that information only provides an answer to a posed question. Whether the information provides knowledge depends on the informed person. So a generalized definition of the concept should be: “Information” = An answer to a specific person”.

When Marshall McLuhan speaks of media and their effects on human cultures, he refers to the structure of artifacts that in turn shape our behaviors and mindsets. Also, pheromones are often said to be “information” in this sense.

Computing Dictionary definition of information

The result in applying data processing of data, giving it context and meaning. Information can then be further processed to yield knowledge.

People or computers can find patterns in data to perceive information, and information can be used to enhance knowledge. Since knowledge is prerequisite to wisdom, we always want more data and information. But, as modern societies verge on information overload, we especially need better ways to find patterns.

-          1234567.89 is data.

-          “Your bank balance has jumped 80-87% to $1234567.89” is information.

-          “Nobody owes me that much money” is knowledge.

-          “I’d  better talk to the bank before l spend it, because of what has happened to other people” is wisdom

Summarily information means:

-          Knowledge derived from the study, experience, or instruction

-          Knowledge of specific events or situations that has been gathered or received by communication; intelligence or news

-          A collection of facts or data: statistical information

-          The act of informing or the condition of being informed; communication of knowledge:

-          Computer science processed, stored or transmitted data

-          A numerical measure of the uncertainty of an experimental outcome

-          A formal accusation of a crime made by a public officer rather than by grand jury indictment.

Managing information

Imagine what I’d be like if every decision was based upon good quality, up-to-date information? Where everyone had ready and equal access to the information they need? Where good quality information was available to support all the work you do?

What would it be like if it was easy to find the experts you need to talk to? Where you could share your expertise with those who needed to know it? And if the relevant information you needed to keep up to date was delivered to your desk automatically?

You’re imagining a world that’s recognized the value of information management?

A cliché, but true

it’s no less true for being repeated, but for many organization and knowledh=ge is their greatest asset. Unfortunately,it is often underutilized. Many organizations don’t recognize information as an asset or entity in itself, and they don’t know how to manage it effectively.

Small companies are especially bad at this as they’re so used to sharing information informally within a small team. It’s only when they grow, or when a key member of staff is absent, that they realize they need to store and share their information properly.

The bottom line is that information management can save an organization money. Some information management tools and practices may cost initially, but chosen well they ca quickly show a return on investment.

I’m an information manager, so you may think I’m a bit biased. But I’ve seen first hand how even basic information management practices can help an organization. I’ve listed some of the main reasons below, in three categories: saving money, making money, and staying on the right side of the law.

Managing your information saves your money.

The first thing you’ll notice after implementing information strategies is that it saves your time and money. It:

·         Enables colleagues to share work with each other to avoid re-doing work

·         Saves staff time by helping them find information they need  quicker

·         Gives you and your colleagues better information to make better decisions and avoid costly mistakes

·         Enables you to know what expertise is held by people within your organization to avoid buying un that expertise

·         Enables you to recognize what your staff know and use their knowledge, increasing morale and job satisfaction

·         Stops you losing vital knowledge and information when a colleague leaves

·         Stops the workplace grinding to a halt when a key member of staff is unexpectedly absent

·         Helps your team do their jobs, resulting in less frustration and a happier, more productive team.

Managing your information makes you money

When you’ve adopted sensible information management practices in your organization, you’ll see how it can help you work more effectively, and more profitable. When you and your colleagues embrace information management, you:

·         Know what your experts know, so you can better define your position in the market place to go out and sell your company’s expertise

·         Can package your expertise in the right format, enabling you to sell that same expertise over and over again.

·         Look at what you know in a systematic way and identify the gaps in your collective knowledge then go out and learn what you need to know

·         Improve in your customer service by knowing more about your customers and their needs.

Managing your information keeps you out of trouble

If making your organization more effective wasn’t enough, information management means you know you’re on the right side of the law. And you can improve it.

Right now,

·         Does the way in which you store information about people comply with data protection law?

·         Is the security of your IT system good enough to protect the data you have on people and enable you to comply with data protection law?

·         Do the marketing telephone calls you make or emails you send comply with privacy and electronic communications law?

·         Do you know what company information you need to keep, and for how long, to comply with tax and corporate governance laws?

·         And do you have in place ways of ensuring that you are kept up to date on developments in information law that effect you?

It’s too important not to manage your information

Information management isn’t something which should be left to chance. Smaller companies make up the majority of our economy. Yet they don’t operate as efficiently as they should. Information management is about looking after the core of your business, which is what you know and how you use it. It enables you to grow, to avoid problems and to make your working life easier.

QUESTION NO 2

What are the characteristics of good information?

SOLUTION TO QUESTION TWO

Not all information is helpful to a business. Alternatively, it might be detailed but has been obtained for too much cost. What are the main features of good quality information in a business?

The table below summarizes the key characteristics of good quality information and suggests ways in which information can be improved if it is not quite a standard.

Quality Required	Commentary
Relevant	The information obtained and used should be needed for decision-making. It doesn’t matter how interesting it is. Businesses are often criticized for producing too much information simply because their information systems can “do it”. A good way of ensuring relevance is to closely define the objectives of any information reports. Another way to improve relevance is to produce information that focuses on ‘expectation”. E.g. problems, high or low values, where limits have been exceeded.
Up-to-date	Information needs to be timely if it is to be auctioned. For example, the manager of large retail business needs daily information on how stores are performing, which products are selling well (or not) so that immediate action can be taken. To improve the speed to which information is produced, business usually needs to look at upgrading or replacing their information systems.
Accurate	As far as possible, information should be free from errors (e.g. the figures add up: data is allocated to the correct categories). The users of information should be informed whenever assumptions or estimates have been used. Accurate information is usually a function of accurate data collection. If information needs to be extremely accurate, then more time needs to be allocated for it to be checked. However, businesses need to guard against trying to produce “perfect” information. It is often more imported for the information to be up-to-date than perfect.
Meet the needs of the use	Users of information have different needs. The managing director doesn’t have time to trawl through thick printouts of each week’s production or sales listings he or she wants a summary of the key facts. The quality control supervisor will want detailed information about quality testing results rather than a brief one line summary of how things are going. It is a good idea to encourage users to help develop the style and format of information reporting that they require.
Easy to use and understand	Information should be clearly presented (e.g. use summaries, charts) and not too long. It also need to be communicated using an appropriate medium (e.g. email, printed report, presentation. Businesses should also consider developing “templates” which are used consistently throughout the organization- so that users get used to seeing information in a similar style.
Worth the Cost	Often forgotten. Information costs money. Data is costly to collect, analyse and report. Information takes time to read and assimilate. All users should question whether the information they receive/ have requested as worthwhile.
Reliable	Information should come from authoritative sources. It is good practice to quote the source used – whether it be internal or external sources. If estimates or assumptions have been applied, these should be clearly used and explained.

QUESTION NO THREE

a)      Discuss factors to be considered in deciding upon an appropriate method of communication

b)      What are the barriers to good communication?

SOLUTION TO QUESTION NUMBER THREE

Communication is the process of transforming from one source to another. Communication is commonly defined as the “imparting or interchange of thoughts, opinions, or information by speech, writing or signs”. Communication can be perceived as a two-way processing which there is an exchange and progress of thoughts, feelings or ideas towards a mutual accepted goal or direction.

Communication is a process whereby information is encoded and imparted by a sender to a receiver via a channel/ medium. The receiver then decodes the message and gives the sender a feedback. Communication requires that all parties have an area of communicative commonality. There are auditory means such as speaking, singing and sometimes tone of voice and nonverbal physical means such as body language, sign language, paralanguage, touch, eye contact, by using writing. Communication is thus a process by which we assign and convey meaning in an attempt to create shared understanding. This process requires a vast repertoire of skills of interpersonal and interpersonal processing, listing, observing, speaking, questioning, analyzing, and evaluating. You use these processes it is developmental and transfers to all areas of life: home, school, community, work and beyond. It is through communication that collaboration and cooperation occur. Cion skills directly through education, and by practicing those skills and having them evaluated.

What is a method of communication?

Method of communication includes: writing: speaking or verbal: sign language: facial expressions: semaphore or naval