Understanding Information Management: Challenges And Strategies

The importance of information management in today’s business environment

1.In this entire case scenario, the mistakes that AZ committed had been making are the management of the business process that did not fall into the hands of perfect time. AZ could not forecast that till their time of contract with IBM, the business processes would change so rapidly that the contract could not accommodate them. The organization had so much dependence on the Information Technology capabilities that they could not track the termination of the contract, therefore missing one of the most intricate and crucial part of the business.

2.IBM made a mistake as well since there have been knowledge transferred over the entire organization that IT outsourcing contracts are hard to achieve and they are subjected to changes achieving too many difficulties. Therefore, the organization should have had a detailed view about the contract termination about the services they were to provide to AstraZeneca.

3.Contract outsourcing for IT takes place for five or more years because the services provided as data center operations, tend to provide the services in a much more matured way of delivering services. This also applies to the constant changes in business processes and the technological fields. Therefore, an organization should provide for the changes to be made according to the changing structure of the organization and economy.

4.The mishap has occurred due to the lack of perceptiveness and bad assumptions. In similar way that AstraZeneca could not assume that the business process changes would be too rapid to fortify the contract they did with IBM for IT outsourcing. IBM also made the mistake of overlooking the details in the contract about the the offered services.

5.It was evitable that the 2007 SLA was indeed doomed to fail miserably. Both the companies had failed to provide the relevant attention to the contracts that were made. AZ could not envisage that the business processes would change so rapidly till their time of contract with IBM. Such that the contract could not accommodate them. Again, IBM made a mistake as well since there have been knowledge transferred over the entire organization that IT outsourcing contracts are hard to achieve.

6.One of the principles specifies the fact that the company that is providing IT operations through outsourcing should fix first and then get paid. This means that AstraZeneca should fix the problems regarding the immediate problems first and then should question about the amount of money to be paid. For getting faster solutions, AstraZeneca has agreed to pay to the vendor first. If any case of conflict had occurred, both the parties could have subjected to appeal to an independent arbiter who is able to oversee the policy of the company.

Challenges in implementing information management strategies

7.If the company used and arbitrator, it would be less expensive in comparison with fighting a lawsuit against the company. It would also consume much less amount of time and would have the less of a confrontational approach since both the parties have regarded contacting an arbitrator beforehand. 

Introduction

Information Management is a cycle of processing of information in an organization, acquiring from one or more sources and distribution of the information through the entire organization spanning through the needs of the required personnel. Information reaches its final stage in an organization only through its disposition or archiving or deletion (Laudon & Laudon, 2016). In the practical world, it is still unattainable about the concept of “information management” or IM. The paper would thus put forward to gain attainment in the understanding of the concept of information management. This would be presented in the format where there would a brief introduction to the subject describing about information management, with the description of the extended boundaries for information management. Further it would discuss about the digital strategies need for the sustainable performance of and organization through information management and then it would further have description about the technological management structure adoption needed in favor of the information management implementation in the organizations.

Information Management

In today’s world it is difficult for organizations to keep up with the continuously changing market demands. The consumer is an individual and wants a personalized service. Customer loyalty is much harder to keep. This creates a tremendous challenge for organizations to keep existing customers and attract new ones. Developments in social media, the exponential growth of data, ever-changing laws and regulations, and the enormous amount of touch points or channels are examples of the continuously changing environment for organizations. Organizations must make choices and not jump on every new development without first mapping the consequences.

Information Management is complex, therefore it needs tremendous care to provide the organization with a proper implementation plan that does not harm the organization with any kind of data or information loss as they can become fatal to the organization. 

Extending Boundaries For Information Management

The business problems that the world faces today are much more complex and it needs a much more sophisticated approach to come to a formidable solution for it. It does not require the analysis of piles and piles of information being gathered and presented to produce insights about the future prospects of the organization in comparison with the competitors and predict the outcomes of the business. It also is not necessary that these business information predictions would drive any fruitful actions from it. A problem solving attitude or approach to such a difficult decision making process cannot be achieved so easily by using a simple Business intelligence tool. This is what would be feasible to be called as Collaborative Business Intelligence or the CBI. Business Intelligence would only be primarily used for the understanding of the information propagation in a business.

The need for digital strategies for sustainable performance in organizations

These BI tools empowered the analyst by allowing them to slice and dice the data on an ad-hoc basis, thereby helping the business user to get answers to important and critical business questions. Organizations and individual consumers now leave a footprint in various media, such as web interactions like, ecommerce, social networking or gadgets like the mobile or cellular phones that provide rich sources of the information. 

Digital Strategies For Sustainable Performance

The implementation of this technique can even be witnessed now in the field of sports where this is applied to see the potential and predictive winners of a particular match, For example, if we look carefully into the matches of the game cricket, we would be able to see that there are some situations where before the match even ends, somewhere in between, the screen shows the projected scores and the predictive winners of the match that is going on. However, this does not fall true to the situation as sports is an extremely unpredicted scenario, but still the information attained so far helps in the prediction of the projected score and predict the winners.

Another of the usages of this sustainable technology is seen to help the traffic administrations of any country in keeping the traffic management in big cities by reducing congestion and promote the good usages of the roads. While not all pervasive, data analytics have begun to play an important role in predicting the future, and organizations that adopt this strategy are reaping huge benefits. It is beginning to spell the difference between success and failure in a sharply competitive market place.

Information Management and Knowledge Management are in this regard more or less possess similar features.

Technology Adoption For Information Management

In companies or organizations that are mostly based on providing service to other people, knowledge is considered to be an intangible and central asset. The management of knowledge in an industry generally Information being used, reused, created and disseminated. Thus, the Information management has come into the light to manage the information that had transferred within the entire organization. 

Let us assume that in case of a healthcare organization, the information are varied and cannot be channelized through a single structural arena. This would be done to some extent by the implementation of Electronic Health Recorder or Electronic Medical Recorder, most commonly known as EHR and EMR (Ginter, 2018). This is a device that follows the context of the latest technical advancements and provides the user in collection a patient’s electronically-stored health information in a digital format.

Therefore, this new system implementation can be the latest technology that helps to move forward towards maintaining a better Information Management in the organizational structure.

Conclusion

In conclusion, it can be said that the Information Management is one of the most vital assets of a business organizational structure. This is attained in extremely complex ways since the use, reuse, transfer, management and storage of information in an organizational structure is a very intricate process. It also has to be kept in mind, that if a business does not come up with the implementation of strategies to abide by the rapid change in the business era, it would start falling short of its competitors and lag far behind them in the long run. The only tradeable asset for a business in this scenario forms in the face of Information Management. Therefore, it can be said that Information Management is a critical process, although attained by proper business strategies and implementations. 

References

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Ginter, P. M. (2018). The strategic management of health care organizations. John Wiley & Sons.