Information Management within an Organization - Term Paper Example

Information is no doubt the most vital asset that an organization possesses but the sheer volume of information that flows in an organization makes it a essential for the managers to understand its importance. Strategic decisions are taken on the information and information changes by the minute. This makes information management a priority as well as a legal requirement. It is essential for managers at all levels to understand what information can empower them or help them function effectively, at the same time assist in the right form of communication between different levels of management. This report will examine how senior managers can improve information management within an organization. Challenges in managing information Information management is an umbrella term, which encompasses people, process, technology and content. Improving information management is driven by the need to improve upon the business processes. Because it encompasses all the systems and processes within an organization, it is essential that managers at all levels communicate effectively. With the growth of the electronic media, the problem of managing information has compounded. There are a large number of information systems today, which lack co-ordination or integration. Information that flows into a company is quite often out-dated, lacks in quality and consistency. The senior management normally does not offer support in managing this information. Added to these are internal politics, changing corporate policies and strategies, and diverse business needs. Investment in information management has also been lacking, as no tangible benefits are visible as in other business processes. Information management strategy People: A strong leadership can help create an effective information management strategy (Robertson, 2005). A clear vision about the outcomes expected from the system is necessary to formulate the right strategy. They must be able to identify and prioritize the business requirements. Senior managers are responsible to ensure that managers at all levels have a clear understanding of the project, its implementation, and the benefits. Technology alone would not suffice unless it is backed by the right managers to implement it. Staff may need to be trained in the application of the information system. The managers also need to recognize the need to invest in developing and maintaining an effective information management system. Technology: Selecting the right technology itself is the first and most important task. No single application of project can resolve all the problems connected with information management. Any attempt to find a single solution could be disastrous in terms of technology as well as money. Besides, problems, apart from being industry-specific, keep changing and the information management system has to change too. Standardized solution within the entire organization may not suffice because individual business areas may have specific requirements. Robertson suggests that documents and record management system has to be maintained by the staff. All the required information has to be captured within the system. Of late, merely capturing information is not sufficient. Data protection and computer security have been receiving importance. Records maintenance in an organization is equally important. When information is passed on to staff in a call centre it is with the intention of better customer service but recent happenings in the industry sends warning signals. Data can be misused at all levels. Computer security needs to be looked into to maintain the continuity of business. Business should continue despite calamities or breakdowns. The globalization, e-commerce and cyberspace scaling new heights everyday, new corporate collaborations taking place, increase in the pace of business activity, and the international political risks, send warning signals to the CEOs to scrutinize the threats including the continuity of business (Alonso and Boucher, 2001). Slow reaction cause longer downtimes, which companies can ill afford. Losses mount as downtime increases. Hence, data security including proper backup practices has to be regularly evaluated. Communication: Effective communication is the essence of any business. During an emergency, there is a tendency to send out insufficient or incorrect information. This needs to be controlled. All involved should have clear understanding of the process. The methods of communication would largely depend on the managers concerned. It would also depend upon the urgency of the situation. A research into how managers gather information revealed that chief executives strongly preferred the verbal media in 1996 (Harwood), today e-mail has become the standard practice within an organization to exchange information even within the organization (Haden, 2006). Where real time information matters, instant messaging is another means to collect information. In large multinationals with many subsidiaries, information management needs to be handled efficiently. Harwood points out as organizations and their internal mechanisms have evolved and become more complex, skills need to match to be able to construct an effective information management system. Verbal communication could lead to misunderstandings. Emails contain information or instructions in ‘black and white’, which cannot be denied by either party. Emails today are business records. Most managers communicate internally through emails. Information is passed on through emails, instructions issued and reports taken. This area too needs attention as Merrill Lynch faced a serious blow when the contents of an email were highlighted during a legal dispute (Haden). Emails and instant messaging too need the same protection and retention strategies that other business records need. In-house back up and in-house archives need to be maintained in a systematic way. Proper referencing or codes help in retrieving emails when necessary. One of the barriers in emails could be that managers do not check their emails regularly and important information could remain unattended. This could be overcome by instant messaging alerts to check the mail. Effective information management also requires information to be distributed judiciously where it is needed. Before sending out any information, the sender should clearly identify the purpose, the accuracy, the urgency, and the recipient’s capability to assimilate and use the information. To reach a strategic decision managers may ask the subordinates to furnish written reports but this can be laborious and time consuming. Verbal communication becomes important at this stage. Large organizations may have different business areas at different stages of evolution. Different techniques have to be adopted. Monopolistic approach to have a single vendor for all its requirements should be replaced by departmental decisions. Companies have to be alert as software and information technologies are changing on a daily basis. Thus we can conclude that good information management would include the right mix of the people, technology and communication. Cohesive attitude amongst the employees is essential. Formal reporting and monitoring system is an essential element in effective management of information. Businesses rely increasingly on information technology today. IT can be used for competitive advantage. This can speed up the process. The challenges in information management differ for each organization, as each organization is unique in its culture, its objectives, and its product. There cannot be a single solution in the ever-changing environment. No method can be exhaustive and hence approaches should be reviewed at regular intervals to ensure the most successful information management system. References: Alonso F & Boucher J (2001), Business Continuity Plans for Disaster Response, The CPA Journal, < http://www.nysscpa.org/cpajournal/2001/1100/dept/d116001.htm accessed 7 March 2006 Communications Management, Aid Workers Network, 7 March 2006 Haden C, (2006). An Effective Information Management Strategy, gtnews.com, 7 March 2006 Harwood G (1994), Logistics Information Management Volume 7 Number 5 1994 pp. 30-35 Robertson J, (2005), 10 principles of effective information management, KM Column, 7 March 2006 Read More