Business Information Analysis - Term Paper Example

Business Information Analysis Table of Contents Table of Contents 2 Executive Summery 3 Introduction 3 Information requirements and management decision-making through Education and Training 4 Key information management issues 6 Enhance business process [supply chain management process] 6 Education and training in Management decision making processes 8 Conclusion 9 References 10 Executive Summery The modern and up-to-date tools and techniques of information are offering invincible facilities and corporate advantages to the businesses. Thus, in the current era, to enhance the business performance and gain the competitive edge the implementation of modern techniques of information technology has become the basic and essential step. Since, the implementation of information technology based systems such as business decision support systems and other are aimed at improving and modernizing the business management activities and organizational decision making processes. However, every technology implementation requires extensive IT skills, education and training. This paper covers the analysis of different aspects of the information requirements and management decision-making at different organizational levels that require education and training. In this scenario this research will present a detailed analysis of different features of information requirements and management decision-making business systems implementation regarding education and training. Introduction Society is going toward the new era where the future fundamentally will be determined through peoples capability to intelligently utilize knowledge, a valuable global resource that is the personification of human intellectual technology and capital. Since, the new knowledge-based business and economy offer a great deal facilities for the distribution, utilization of information and knowledge, and its creation. Thus, in this latest economy, companies and individuals are required to pay attention on the ways that can be used to enhance and maintain their knowledge capital to bring innovation since the capability to adapt, learn, and change has turned out to be a core competency to survive in the marketplace (Psarras, 2007) and (Sunassee & Sewry, 2003). Psarras (2006) stated that it is apparent that in the latest knowledge-based financial system the need for training and education will increase. However, to effectively manage the economic system, new information technology offers the transformation in companies and individuals that will best attain their educational objectives as well as best satisfy the demand for business knowledge (Psarras, 2007). This paper presents a detailed analysis of the information requirements and management decision-making at different levels within the education and training sector. Information requirements and management decision-making through Education and Training Martins (2007) outlined that in last decade business and corporate knowledge management (KM) have started to come out as an area of interest in business, academics as well as organizational practice. The business literature exposes a quickly growing body of knowledge regarding knowledge management that covers a lot of diverse disciplines as well as areas of interest to practitioners and academics. Thus, in scenario of knowledge management the knowledge is a main business asset: a lot of businesses are still in the early phases of recognizing the implication of business information and knowledge management technology. It is obvious that in implementing the knowledge management system and information technology platforms business possesses information and knowledge that present a special advantage, allowing it to man oeuvre through creativity, intelligence as well as occasionally, cunning. It is well-prepared to maintain its enlargement and build up in a dynamic environment. Thus, marshalling the expertise and skills of its business affiliates is capable to hold in constant business innovation and learning (Martins, 2007; Sunassee & Sewry, 2002) & (Bennet & Bennet, 2008). Ford (2004) stated that in scenario of business an educational and training philosophy is linked with views on what education is intended for (for example for self-actualization or vocational training). Additionally, some business learning theories focus on how people learn as well as can efficiently be taught (for example: as comparatively passive recipients of business information, or active representatives of meanings). Thus, they can influence educationists in identifying educational approaches, that stand for views on how learning and teaching should be delivered and prepared (e.g. by means of independent study and lectures), as well as specific learning objects that correspond to views on what should be learned (Ford, 2004). In the business information requirements and management decision-making there is major role of the education and training since they offer skill improvement for the enhanced business and corporate operational handling and working management. Thus, in scenario of better availability of the business information requirements and management decision-making education and training a firm would be able to adjust its behavior to apparent transformations in the business situation. Devins, Gold, Johnson, & Rick Holden (2005) stated that its results and responses are different from the simultaneous actions of other actors that take part in the similar activity. In the fresh business and web based economy, it is certain that the smarter corporations will survive. Additionally, the smartness can be achieved in business structure by educating and training the business staff and offering them state of the art business and market knowledge. Thus, for the business setting they have to recruit, attract, retain, and train the very best people. Since, one of the most excellent forms of competitive advantage in market that a corporation could have is a talented workforce and business staff. In case of business enhancement the investments in training and education, though, should match firms knowledge requirements. The evolutionary move inside firms, from dependency on academically obtained knowledge to knowledge achieved on the job is effectively demonstrated to these days (Devins et al., 2005). Key information management issues There are various information management issues and challenges in education and training sector. However, a number of organizations are presently applying new technology and working capabilities. Since, through these technology implementations businesses could achieve effective education and technology related training. On the other hand, many organizations are conducting their business through traditional academic knowledge and training. They don’t have staff and management having latest education thus they face various issues and challenges in management (Ford, 2004) & (Bennet & Bennet, 2008) & (Psarras, 2007): Less innovative vision of workers Traditional academic approaches for running the business Little solution in case of business crisis Less effective operational handling Business management un-aware about new technology solutions Less effective business information utilization More rigid decision making process Unable to cope rapid market change Enhance business process [supply chain management process] This section discusses the enhancements through the education and training process. In case of business supply chain management that is one of main pillars of business; there is vital need for effective handling and management of overall business operational processes. The supply chain management in the present global business economy is really hard business activity. In this scenario we need a web based working capabilities and effective business processes management. However, the new educational and training capabilities offer the business people to effectively and efficiently handle and organize the business processes. The education and training session in the capacity building for business staff will offer following advantages (Ford, 2004) & (Bennet & Bennet, 2008) & (Psarras, 2007): It is able to build a flexible as well as innovative association and link among business supply chain processes and education Expand learning culture to comprise suppliers, customers as well as other important stakeholders in business supply chain processes Makes human resource growth strategy essential to business supply chain strategy Offers and establishes a nonstop practice of business supply chain processes transformation. It is able to add to the assimilation and adaptation of latest knowledge by means of the existing one in case of business supply chain processes It is able to add to the re-connection of learning through experience, so that education and learning imitate the business supply chain “real place”, “real time” as well as “real problems”; work that is able to no longer be seen as something that occurs at a later stage in life. Helps in enlargement of action learning and learner centred knowledge for business supply chain processes Facilitates in increasing importance of business supply chain work-related learning The identification of work as well as work experience like a key source of learning in the business in handling business supply chain processes It is able to facilitate business staff to more intimately match their talents with present workplace business supply chain processes demands Provision of an improved method to manage existing business knowledge regarding business supply chain processes The explosion of novel computer-based contact technologies that is capable to revolutionise business supply chain and its handling practices. Offers a climate in that business and supply chain processes handlers (staff members) are encouraged to study as well as to build up their full potential; Making business and supply chain individuals more effectual at sharing precise knowledge Formation of novel techniques to represent implicit knowledge in business supply chain processes Education and training in Management decision making processes Martins (2007) stated that strategic decision making and management skills of managers are vital for a variety of reasons: initially, there is a growing significance attached with the job because of human resource management (HRM) decentralization. This shows no signs of deteriorating; second, to handle the doubts that are inclined to happen concerning the strategic decision making and management by the managers. Thus, there is a vital need for the education and training in order to handle efficiently the problems linked with their performance of this devolved role. The new technology based training for decision making is really necessary. Since, through effective business training and education, business managers would be able to take effective decisions. Furthermore, through education and training a business management decision making process will have following improvements (Martins, 2007): Offering the effective handling and management for the complexities of a number of issues that top management discover difficult to comprehend The education and training help minimize the decision making costs Effective education and training offer the business management a faster response regarding the frontline state of affairs For offering new insights to the business processes and their working areas though effective training and education offer experiential learning that decentralize that core HRM activities propels them in the direction of support for future managerial positions that necessitates elevated level decision-making skills It outcomes in producing a motivational situation, and effectual control, as line managers are in continuous contact with frontline staff. Conclusion The past decade has seen workers seeking to set up more developed management arrangement that put additional importance on local level managerial decision-making. A significant part of this transformation in a lot of organisations has been the re-configuration of the functions of manager to include a wider variety of people organization jobs. Additionally, to enhance the business working and operational process the new technology and business education and training can offer great help. This research has offered a detailed analysis of the education and training factors regarding the organizational working and operational processes. This paper has presented the role of education and training in enhancing the various business activities and processes. Information systems research is usually concerned with the study of the results of information systems regarding the behaviour of groups, individuals and organizations. In this scenario the information technology based systems are aimed at offering modern and improved business facilities. However, only the better education and training can improve the new technology based implementation and offer the capabilities to effectively manage the business activities. References Bennet, D. & Bennet, A., 2008. Engaging tacit knowledge in support of organizational learning. VINE: The journal of information and knowledge management systems, 38(1), pp.72-94. Devins, D., Gold, J., Johnson, S. & Rick Holden, S., 2005. A conceptual model of management learning in micro businesses. Education + Training, 47(8/9), pp.540-51. Ford, N., 2004. Towards a model of learning for educational informatics. Journal of Documentation, 60(2), pp.183-225. Martins, L.P., 2007. A holistic framework for the strategic management of first tier managers. Management Decision, 45(3), pp.616-41. Psarras, J., 2007. Education and training in the knowledge-based economy: the application of knowledge management. International Journal of Information Technology and Management, 6(1), pp.85-96. Sunassee, N.N. & Sewry, D.A., 2002. A theoretical framework for knowledge management implementation. In ACM International Conference Proceeding Series; Vol. 30, Proceedings of the 2002 annual research conference of the South African institute of computer scientists and information technologists on Enablement through technology. Port Elizabeth, South Africa, 2002. South African Institute for Computer Scientists and Information Technologists, Republic of South Africa. Sunassee, N.N. & Sewry, D.A., 2003. An investigation of knowledge management implementation strategies. In SAICSIT; Vol. 47, Proceedings of the 2003 annual research conference of the South African institute of computer scientists and information technologists on Enablement through technology. Port Elizabeth, South Africa, 2003. 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