Information Management and decision Making

Information Management and Decision Making

Introduction

The unit will address the volume and complexity of data and information available to organisations and how to analyse, apply and determine its value in making strategic decisions.

Scenario

Learners may use their own employment context, or that of another organisation with which they are very familiar, to base their assignment. However, in the case that they are not able to do so, please use the below scenario: –

You are a manager at a medium sized organisation. You have been asked to develop your organisation’s management information system to ensure it conforms to legislation and provides accurate and relevant data. Analysis of historical data to inform future strategic direction is part of your current role.

Task 1:

Critically discern the process of converting data to information, understanding, knowledge and wisdom. Critically review the key features at each stage in the cycle, drawing conclusions and making robust recommendations.

When making management decisions determine the criteria to be applied when selecting data and information to support decision making. Consider the validity of sources of information

Describe the main functions of an organisation’s Management Information System (MIS). Evaluate the impact of a management information system to an organisation in terms of component efficiencies and wider organisational effectiveness

Guideline word count: 700 – 900 words

A.C. 1.1 – Critically identify the features of data and information

A.C. 1.2 – Determine the criteria to be applied when selecting appropriate data and information to support strategic decision making

A.C. 1.3 – Critically evaluate the impact of a management information system to an organisation

Task 2:

State the organisation’s responsibilities in sourcing, sharing and storing information to ensure legal compliance. Identify two types of information which may have restricted access within the organisation.

Critically discuss six types of information which an organisation can offer to employees and how this is accessed.

Critically evaluate four formats in which information can be offered and evaluate how effective these formats are within the organisational context.

Guideline word count: 700 – 900 words               

A.C. 2.1 – Determine the legal responsibilities in sourcing, sharing and storing information

A.C. 2.2 – Critically discuss when information should be offered and access allowed

A.C. 2.3 – Critically evaluate the formats in which information can be provided and the impact of using various formats

Task 3:

Select one form of information from an organisation and critically analyse it to identify any patterns and trends. Consider comparative analysis such as year on year or same month/period over a period of years. Review the impact that such patterns and trends have on the strategic decision making processes. Electronic decision making tools may be considered if appropriate to your scenario.

Critically evaluate four decision making tools. Determine their fitness for purpose from a criterion devised by you, and stated.  Explain the importance of valid management information when supporting the decision making process. Make clear judgements from your analysis and, explain how it may assist with future planning activities at strategic level.

Determine two sources which may assist in analysing data and information. Consider the value of internal and external sources. Your source audit should be detailed, and consider all relevant factors, legal, ethical, social, essential to operations.

Guideline word count: 500 – 700 words               

A.C. 3.1 – Critically analyse information to identify patterns, trends and impact on strategic decision making

A.C. 3.2 Critically evaluate a range of decision making tools and techniques available to support a strategic decision

A.C. 3.3 – Determine data and information sources available to assist in strategic decision taking

Task 4:

Critically review four methods an organisation can use to develop data collection to inform and support strategic decision making. Consider internal and external sources of information capture and the potential benefits of utilising wider sources for the organisation. Where possible conceptual evaluative techniques should be used, to add validity and robustness to processes.

Describe how an organisation can analyse the impact of information on strategic management decisions. Explain why it is important to have a rigorous process to analyse the impact information can have on strategic decisions.

Review four methods an organisation can use to develop data collection to inform and support strategic decision making. Consider internal and external sources of information capture and the potential benefits of utilising wider sources for the organisation.

Guideline word count: 450 – 550 words

 A.C. 4.1 – Critically identify methods of evaluating management information within an organisation

A.C 4.2 Formulate processes and methodologies for analysing the impact of information on the strategic decisions made

A.C 4.3 Determine methods of developing information capture to inform and support strategic decision making

Learners are required to complete all tasks.

Assignment Guidelines

All work must be submitted in a single electronic document (.doc file). This should go to the tutor and Centre Manager/Programme Director, plus one hard copy posted to the Centre Manager.

The assignment must be the Learner’s own work and not copies of theories or models. Direct quotes should be kept to a minimum, and shown in inverted commas. Models described and other quotes used must be properly attributed and referenced as appropriate. Learners must acknowledge or reference any sources that have been used to complete the assignment, listing reference material and web sites used.

Learners are encouraged to produce a reflective statement of no more than 300 words (which does not count towards the final word count), describing the value and knowledge gained from undertaking this assignment. The reflective statement is not assessed; however it encourages you to review the value and application of your learning.

Overall word count guide: 2500 – 4500

Plagiarism and Collusion

In submitting the assignment Learner’s must complete a statement of authenticity confirming that the work submitted for all tasks is their own. The statement should also include the word count.

Plagiarism and collusion are treated very seriously. Plagiarism involves presenting work, excerpts, ideas or passages of another author without appropriate referencing and attribution. Collusion occurs when two or more learners submit work which is so alike in ideas, content, wording and/or structure that the similarity goes beyond what might have been mere coincidence.

Appendices

Separate Appendices should not be used. Any use of tables, graphs, diagrams, Gantt chart and flowcharts etc. that support the main report should be incorporated into the back of the  assignment report that is submitted. Any published secondary information such as annual reports and company literature, should be referenced in the main text of the assignment but not included.

Confidentiality

Where a Learner is using organisational information that deals with sensitive material or issues, they must seek the advice and permission from that organisation about its inclusion. Where confidentiality is an issue, Learners are advised to anonymise their assignment report so that it cannot be attributed to that particular organisation.

Word Count Policy

In total, the assignment report should be between 2500 – 4500 words. Learners must comply with the required word count, within a margin of +10%.These rules exclude the index (if used), headings and information contained within references and bibliographies. When an assessment task requires learners to produce presentation slides with supporting notes, the word count applies to the supporting notes only.

Referencing and Professionalism

A professional approach to work is expected from all learners. Learners must therefore identify and acknowledge ALL sources/methodologies/applications used. The learner must use an appropriate referencing system to achieve this. Marks are not awarded for the use of English; however the learner must express ideas clearly and ensure that appropriate terminology is used to convey accuracy in meaning.

Submission of Assignments

All work to be submitted on the due date as per Centre advice.

All work must be submitted in a single electronic document (.doc file). This should go to the tutor and Centre Manager/Programme Director, plus one hard copy posted to the Centre Manager.