Assignment on Strategic Information Management

STRATEGIC INFORMATION
MANAGEMENT
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TABLE OF CONTENTS
INTRODUCTION................................................................................................................................5
TASK- 1...............................................................................................................................................5
1.1 The features of data and information.....................................................................................5
1.2 Criteria to be applied when selecting the data and information to support decision making 7
1.3 Evaluate the impact of a management information system to a company.............................9
TASK- 2.............................................................................................................................................10
2.1 The legal responsibilities in sourcing, sharing and storing information..............................10
2.2 When information should be offered and access allowed...................................................11
2.3 The formats in which information can be offered...............................................................12
TASK- 3.............................................................................................................................................13
3.1 Analyses the information to identify trends and patterns....................................................13
3.3 Sources available to assist in analyzing the information.....................................................16
TASK- 4.............................................................................................................................................16
3.2 Evaluate range of decision making tools and techniques available to support a strategic
decision......................................................................................................................................16
TASK - 5............................................................................................................................................19
4.2 Evaluate methods of developing information capture to inform and support strategic
decision making.........................................................................................................................19
4.3 Processes for analyzing impact of information on strategic decisions made......................21
CONCLUSION..................................................................................................................................22
REFERENCES...................................................................................................................................23
APPENDIX........................................................................................................................................25
PLEASE REWORK ON THIS FILE, DON’T NOT WORK ON THE PREVIOUS FILE.
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ILLUSTRATION INDEX
Illustration 1: Ansoff model.............................................................................................................5
Illustration 2: PDCA cycle...............................................................................................................7
Illustration 3: SWOT analysis........................................................................................................16
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INTRODUCTION
Strategic information management (SIM) is termed as the process of integrating the
applicable information so that, business can gain competitive edge in the market. To operate
business effectively, the management should determine all the information regarding their target
market so that, they can plan according to it and achieve the objectives (Hausmann, Williams
and Hardy, 2014).
For conducting the report I have chosen the Tesco PLC which is the renowned
supermarket chain in the UK and provides wide range of grocery products and services to their
market customers. Working as a manager in the Tesco superstore my role is to measure the
information within the organization that will assist in taking strategic decisions. The assignment
will mainly concentrate on the identifying the data and information of the organization to take
effective decision making within the organization.
TASK- 1
1.1 Features of data and information
Strategic decision making is the effective process that requires processing, storing and
reviewing the data and information so that, management of the organization can take proper
decision (Lee, Lee and Kang, 2005). Tesco PLC is the largest supermarket chain in the UK
market that serves different need of the customers. For supporting the strategic decision making
in the Tesco PLC, they need proper information and relevant data. The theory of Russell Ackoff,
has suggested that, the content in the individual mind can be classified into the four different
categories that is data, information, knowledge and wisdom (Walters, Jiang and Klein, 2003).
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(Source: Data, Information, Knowledge, and Wisdom, 2004)
 Data: The data simply can be termed as the raw or unstructured information that features
no information. For example, for formulating the strategies to expand their activities
Tesco collects the data from market customers.
 Information: Information refers to the structured or organized data which is useful for
the management to take effective decisions. For example, Tesco ensure collected data
sorted and categorised under different section and answer that who are the customers that
will be satisfied by Tesco (Jaspers and et.al., 2004).
 Knowledge: It is deterministic process or can say application of data and information
that mainly answers the “how” questions. For example, how Tesco will expand their
activities the company possess required human inventory with the proper skills and
capabilities to enlarge their activities.
 Wisdom: The last category includes wisdom this deals in the future as it integrates the
vision.
Key features of the data and information are:
 Accessibility: The identified features of data and information are accessibility that is it
should be conveniently handled and available to the Tesco organization so that, they can
take proper decision (Kunnathur and Shi, 2001).
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Illustration 1: Ansoff model

 Relevance: Another feature is that, the collected data and information about Tesco
should be relevant and related so that, they can take effective decision regarding the
specific purpose of expanding their activities.
 Comprehensibility: The collected data and information should be understood by the
management as it will help the firm in taking effective decision (Hult, Ketchen and
Slater, 2004).
 Timeliness: Another feature of data and information is that, it should be collected
properly. Data or information that arrives after the decision taken by the management is
of no use.
 Accuracy: Accuracy is very important as the data should be correct and without any
error or mistake.
1.2 Criteria to be applied while selecting data and information to support decision making
For effective decision making, management of Tesco PLC should follow certain criteria
for selecting the data and information (Lee and Pai, 2003). The different criteria for selecting
data and information consist of decision action cycle that mainly include Plan, do, check and act
(PDCA) and Observe orientate decide act (OODA). The decision making process of Tesco PLC
includes 8 steps that include
 Identify problem: The first step in the decision making process of Tesco PLC include
determining problem or to analyze the opportunities which will benefit the company. For
example, with the advanced technology the company should focus on expanding the
activities on the internet platform to serve their global customers (Wheelen and Hunger,
2011).
 Establish decision criteria: The second step includes establishing the decision criteria
by gathering the necessary information which are relevant for the organization to take
decision.
 Weigh decision criteria: Another step is to measure the decision criteria that are it is
suitable or not for the Tesco.
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