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Strategic Resource Management PDF

   

Added on  2020-10-22

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Strategic ResourceManagement

Table of ContentsINTRODUCTION...........................................................................................................................4A1.....................................................................................................................................................4A.1.1 Identification of the features of data and informations.....................................................4A.1.2 Determination of the criteria to be applied when selecting appropriate data andinformation to support strategic decision-making.......................................................................5A.1.3 The impact of a management information system to an organization..............................6A.2....................................................................................................................................................62.1 Determine the legal responsibilities in sourcing, sharing and storing information...............72.2 Discuss when information should be offered and access allowed........................................7A.2.3 Critically evaluation of the formats in which information can be provided and theimpact of using various formats..................................................................................................8A.3....................................................................................................................................................8A.3.1 Critically analysation of information to identify patterns, trends and impact on strategicdecision making..........................................................................................................................8A.3.2 Evaluation of a range of decision-making tools and techniques available to support astrategic decision.........................................................................................................................9A.3.3 Determination of data and information sources available to assist in strategic decisiontaking...........................................................................................................................................9A.4..................................................................................................................................................10A.4.1 Critically identifying methods of evaluating management information within anorganization...............................................................................................................................10A.4.2 Formulation of processes and methodologies for analysing the impact of information onthe strategic decisions made......................................................................................................11A.4.3 Determination of methods of developing information capture to inform and supportstrategic decision making..........................................................................................................11Information Quality:..................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONStrategic resource management is a framework which is used to measure the performanceand integrated decision-making (Strategic resource management. 2019). It is essential for acompany to manage its resources because resources are the backbone of any company. Theresources could be humans, machines, raw material etc. The organization taken in this report isWaitrose. This is a chain of British supermarkets having its headquarter in Bracknell, Berkshire,England. In this report, Management Information System with its impact on Waitrose isdiscussed. Different types of information with its responsibilities and format of information isexplained (Albrecht and et. al., 2015). Critically evaluation of decision-making tools, importanceof MIS, value of internal and external sources are also discussed. In the end, methods ofevaluation of MIS, impact of information on decision-making and methods of developinginformation are also explained in this report.A1A.1.1 Identification of the features of data and informationsData is all about the unfiltered facts and statistics collected for research and analysis. Thiscan be in the form of text, images, videos, graphics, etc. When data is collected to analyse therequired facts and statistics, the resultant is known as information. Information is basically thefiltered, useful data which is required further to perform as specific task. While MIS is acomputerised database used in different functions of an organization such as process, sales andmarketing, inventory control etc. The key features of MIS is stated as below:Data Collection:MIS is used to collect the data. In case of Waitrose the data is stored in MIS in two wayssuch as relational database and hierarchical database (Aryanto, Fontana and Afiff, 2015). Thedata stored in relational database is in the form of information which is related to each pother.When client ask the system to retrieve the information than a comparative information is fetched.In case of hierarchical database there is no relative information available, the information isstored in the form of a tree. Accessibility and Integration:This is an important feature of MIS in which the stored data can be accessed from anywhere within the organization and outside the business. The different department of within

Waitrose such as production, marketing, finance, HR etc. are integrated with the help of MIS.This provides two important outcomes in the organization. The company can update theinformation within organization at any place and the decision-making within organization can bedone at an ease.Centralization:MIS provides the most important feature to any business which is known ascentralization. In this feature, Waitrose' different departments are integrated with the basicplatform of MIS database and with the help of which all the departments are centralized witheach other.A.1.2 Determination of the criteria to be applied when selecting appropriate data and informationto support strategic decision-making.Information is collected from a bulk of data to support the specific process. There is acriteria to select the desired information from a range of data (Bailey and et. al., 2018).Following is the criteria to select this information from data. Task-Centric:The information collected from the bulk of data should be task centric i.e. the informationshould be centric with the required amount of data because selecting irrelevant data createsredundancy and inaccuracy. Selecting accurate data creates accuracy in the desired result. Ifdesired data is collected properly this will create accuracy, robustness, relevancy in the result. Incase of Waitrose, the company has to select the desired information because it is required by thecompany. When relevant and accurate data is collected by the company, thus will help it inattaining better options from making good decisions.Collaboration:The information collected from data sometimes required collaboration in betweenresources and employees (Bratton and Gold, 2017). Therefore the information should be like itwill provide collaboration among different resources of Waitrose. If it is not happened, thecollected information will not necessary fro the company. When collaborated information iscollected this will help the leaders of company to make essential decisions.Rapid Access:Rapid access of information helps the managers of Waitrose to make quick decision-making. When accession of information is rapid and accurate then the information collected

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