Knowledge Management and Decision Making
Added on 2020-01-28
17 Pages6012 Words67 Views
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ManagingCommunication,Knowledge andInformation
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Decisions to be taken for new venture.............................................................................11.2 Information and knowledge required for effective decisions...........................................21.3 List out the internal and external sources of information.................................................21.4 Recommendations for the improvement..........................................................................3TASK 2............................................................................................................................................42.1 Identifying stakeholders whose actions may influence decision making process............42.2 Methods used to develop business relationship with these individuals...........................52.3 A plan to involve identified people in the decision making process................................62.4 Strategy for future improvements in decision making process........................................6TASK 3............................................................................................................................................73.1 Different types of communication process.......................................................................73.2 Communication processes................................................................................................83.3 Integration of systems for appropriate communication processes...................................83.4 Personal development plan...............................................................................................9TASK 4..........................................................................................................................................114.1 Existing approaches to the collection, formatting, storage and dissemination ofinformation and knowledge..................................................................................................114.2 Appropriate changes to improve collection, formatting, storage and dissemination.....124.3 Implementing a strategy to improve access....................................................................12CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
INTRODUCTIONIn the present time, fate of any business organisation is usually decided by the abilitiesrelated to decision making process. In every business, time is very important factor becausedecisions are required to be made on right time. In respect to this, it is essential to have theavailability of accurate information, knowledge and communication process. With the help ofeffective communication process, information can be conveyed and delivered in an effectivemanner. Open communication and accurate information helps organisation to attain its targetsand objectives (Schwalbe, 2015). By considering this, the present report helps in understandingthe concept of managing communication, knowledge and information. In respect to this, Foodsde Plaza shop is considered whose motive is to operate new business in the food industry. Inaddition, cited shop targets to sell high quality food products to the customers. The reportdescribes the ways to assess the information and knowledge requirements. It also explores thestrategies to increase personal networking to widen involvement in decisions making process.Along with this, it defines list of company's stakeholders which are required to be involved indecision making process. TASK 11.1 Decisions to be taken for new venture For selling high quality food products, Foods de Plaza needs to process the informationand knowledge for successful functioning of the business. Decision making takes place at alllevels of the organisation for its smooth functioning. All the decisions are taken by Foods dePlaza at three levels of management such as strategic, tactical and operational. These have beenexplained below: At strategic level,Foods de Plaza’s director focuses on the investment. This level is themost crucial for the business where management is unaware about the real outcomes of decisionstaken. They are long termed in nature and guide for the future growth of the enterprise (TheDecision-Making Process in an Organization. 2015). Attactical level, managers at differentdepartment of Foods de Plaza contribute to achieve overall goals of the enterprise. Eachdepartment ensures that they share information along with good practices for providing highquality food products to the customers. Final one is operational level decision where eachemployee is committed to improve business practices through which customer requirements are1
fulfilled. Decisions are taken on the daily basis which enhances value of overall operationscarried out within the workplace. Operations of enterprise are short term in nature and by takingeffective decision, it is possible to decrease cost (Afifi and Afifi, 2015).There are many other research methods or techniques which are used to gain financialinformation for stakeholders, marketing information that is used by Food de Plaza forunderstanding sales figure and complains regarding product, manufacturing information etc. There are different level of decisions that need to be taken within the organization,despite of this, there are different types of decisions that is structured, unstructured and semi-structured decisions. Structure decisions clearly defines the solution of issue and problem forwhich the decision has been made. Along with this structure decision also include processingrange of creative and innovative decisions for the overall businesses. On the other hand,unstructured decisions are those that rely on the knowledge or model. While, the last type ofdecision is semi structured decision information gained by Food de Plaza is personal or admininformation which is used for understanding knowledge level of staff members and how to makethem productive.1.2 Information and knowledge required for effective decisionsFor starting new venture, both the information and knowledge play an important role formaking decisions regarding business functions and practices. Due to complications in thebusiness process, manager of the company requires skills, knowledge and expertise to understandthe problem. At each level of department, challenges are determined and data is used whichprovide an insight to the company. Food de Plaza tends to apply management informationsystem for anticipations of the changes taking place in the market. MIS at business is linked withprocessing of information where queries of the customers are handled as soon as possible. So,this type of technology helps in improving the existing processes, development of new productsand services, improving work environment, increasing flexibility in processes, enhancement ofindividual's knowledge etc. (Vaishnavi and Kuechler, 2015). In business, MIS also has an abilityto interpret and respond to the changes that depend on the amount of information and knowledgeavailable. Information system increases the level of outcome through effective knowledge, skillsand capabilities used by the employees. Effective decisions are made on right time and in a rightmanner, so it can improve the outcomes. Many businesses are failed because of the objectiveswhich are not clear or key factors are not considered as part of the process. A logical and ordered2
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