Knowledge and Information Management Report for BizOps Enterprise

This report examines the critical aspects of knowledge and information management within the context of BizOps, an Australian enterprise. It begins by highlighting the importance of effective information management through data collection, emphasizing the role of leadership in fostering a knowledge-sharing environment, and identifying potential causes for the loss of corporate knowledge. The report then delves into statistical analysis methods, specifically focusing on Return on Investment (ROI), and how sensitivity analysis aids in decision-making. It analyzes the consequences of failing to analyze cause and effect relationships. Furthermore, the report addresses a case study involving Mariana, outlining her objectives, research methodologies, and data organization strategies. The report also explores the importance of aligning decisions with organizational values, objectives, and procedures, along with the role of risk management in the decision-making process. It provides insights into ensuring accountability and utilizing quantitative methods for decision support. Finally, the report includes a communication plan and checklist, offering a practical guide for disseminating information within the organization.

MANAGE
KNOWLEDGE AND
INFORMATION

Table of Contents
INTRODUCTION...........................................................................................................................1
QUESTION 1...................................................................................................................................1
a) Importance of effective information management through data collection in business
environment.................................................................................................................................1
b) Role of leader in managing knowledge and information........................................................1
c) Define circumstances under which corporate knowledge can be lost.....................................2
d) consequences of failing to maintain corporate knowledge.....................................................2
e) Provide one test for reliability and validity of information....................................................2
QUESTION 2...................................................................................................................................3
a) Describe statistical analysis method involving its benefits and applications..........................3
b) How sensitivity analysis aid decision-making in business organisations...............................3
c) Consequences of failing to comprehensively analyse cause and effect relationship..............3
QUESTION 3...................................................................................................................................4
a) Objectives of Mariana.............................................................................................................4
b) How Mariana undertake research and analysis to achieve objectives....................................4
c) Organising of data and presenting findings from Mariana research.......................................4
d) Different adjustments to improve this situation......................................................................4
QUSETION 4...................................................................................................................................5
a) Describe why decisions must reflect value, objectives and procedures of an organisation....5
b) Role of risk management in decision making.........................................................................5
c) Consequences of not conducting a risk analysis.....................................................................5
d) Ways to ensure decision are taken within delegated accountability.......................................5
e) Three quantitative method to assist decision making.............................................................5
f) Three strategies to assure organisational procedure and regulatory requirements are met
during decision-making...............................................................................................................6

QUESTION 5...................................................................................................................................6
a) Complete table according to communication plan of Ella .....................................................6
b) Checklist to record information Ella disseminates to staff during her communication plan
.....................................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Managing knowledge and information is the procedure of creation, sharing and using the
data and information of a company in an appropriate manner. It is a multidisciplinary approach
which assists in achievement of organisational objectives by using knowledge in an effective
manner. This assignment is based on BizOps which is an Australian enterprise specialising in
standardised and exclusive products. At present company is successfully managing more than
150 retail, phone and online outlets and employing 1300 employees across Australia. This report
will cover different concepts regarding information management along with statistical analysis
methods for decision making. Beside this, risk management and appropriate communication plan
for business organisations is discussed.
QUESTION 1
a) Importance of effective information management through data collection in business
environment
Information management is referred to the acquisition of data and information from
different sources along with distribution and custodianship of information to those individuals
which needs it. It also include disposition of information by deleting or archiving it. One way to
manage information in a desired manner is to identify business issues through data collection
tool such as business performance data (Orna, 2017). This will benefits BizOps in identifying
problems like increase in expenditure, drop in sales, defining values which are outside of
expected ranges. Also, this data collection method will allow BizOps in conducting research on
other issues which takes place while operating business.
b) Role of leader in managing knowledge and information
Leader posses an essential role in managing information and knowledge. To became
successful, specific skills and qualities are required by a leader so that knowledge can be created,
shared and managed in an appropriate manner. Beside this, role of leader is to create and
promote new knowledge so that existing information can be managed in a desired way. Leader in
BizOps require effective behaviour, attitude, characteristics, values, abilities and skills so that an
environment can be created which will motivate team and individual learning. Another role of
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leader will be to support and encourage culture of sharing information & knowledge so that
employees can manage organisational information in a proper way.
c) Define circumstances under which corporate knowledge can be lost
Corporate knowledge is referred to the combination of tribal, tacit, undocumented and
documented knowledge which is gained within a company. This knowledge helps in providing
knowledge and information to the company so that it can run in a proper manner (Webb, 2017).
There are some circumstances in which corporate knowledge can be lost such as employee
turnover, inefficiency among workforce etc. Corporate knowledge in BizOps can be lost if
workforce of company either a team or individual will leave. For ex, if manager of company
which is working from last 15 years will leave, then a wealth of knowledge about maintaining
company will be lost too. This is result in loss of corporate knowledge.
d) consequences of failing to maintain corporate knowledge
There are some consequences which can be faced by BizOps due to lack of corporate
knowledge. Some of these consequences are mentioned below:
 Failing of corporate knowledge will reduce employee performance. This is because they
will not get proper guidance and direction to perform their work.
 Operating policies and procedure for documentation will be difficult.
 Resolving business related issues will became a difficult task.
 Mismanagement of work among workforce.
 Difficulty in satisfying the needs and desire of customers (Paré and et. al., 2015).
e) Provide one test for reliability and validity of information
Before using an information for work related purpose, it is essential for manager in
BizOps to ensure its reliability and validity. In this regard, company can adopt the method of
Cross referencing if company do not have access to a source which is correct by all means. This
method will benefits in checking the reliability and validity of information by checking all the
alternatives which are possible. It relies and depend upon approximation method. This test will
benefits BizOps in checking relevancy of legal and other information with the help of accredited
and official websites that holds only accurate information.
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QUESTION 2
a) Describe statistical analysis method involving its benefits and applications
Statistical analysis is defied as collection of different methods which are use to process
data and information for different purposes. There are different methods to perform statistical
analysis such as correlation calculation, probability assessment, ROI etc. BizOps is going to
choose return on investment method.
Return On Investment: This method will aims to measuring the profits of a company
against their investments. Gross profit will be measured by eliminating direct costs like raw
material. It will benefits BizOps in deciding if they invest their money in any business activity or
not.
 Benefits: This method has simple calculations and it will benefits the firm in measuring
competition around market.
 Application: ROI gives signal for monitoring the investment in an activity or project. It
will also allow the company to compare their previous year returns along with evaluation
of different investment opportunity.
b) How sensitivity analysis aid decision-making in business organisations
Sensitivity analysis aims to ask as series of questions related with “What If” concept.
This method will assists the company in understanding whether an activity initiated by them will
get success or not if things will not go as per the planning. For example, it will allow the
manager in BizOps to identify what if resources will not attained or what if expenses goes over
budget. Due to these aspects, management and manager of company will became able to plan
alternatives or taking those decision only that will not generate an disadvantageous situation for
company.
c) Consequences of failing to comprehensively analyse cause and effect relationship
If company will not be able to analyse cause and effect relationship in a desired manner
then it will acts as a disadvantageous situation for the company. For example, if company will
take decision to stop supply from one supplier without acknowledging its effect, then it can
results in shortage of resources. This can restricts the manufacturing and production process in
BizOps due to which company will face loss of sales and profitability (Alberghini, Cricelli and
Grimaldi, 2014).
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QUESTION 3
a) Objectives of Mariana
As per case study, there are some problems which are faced by organisation where
Mariana is working. To solve these problems, main objective of Mariana will be to resolve the
issues which are faced by customers while using feedback tool. Another objective of Mariana
will be to decrease return rate for products sold by company.
b) How Mariana undertake research and analysis to achieve objectives
To solve the issue associated with feedback tool, Mariana went to organisation's website
and start reading posted feedbacks. This helps her in understanding that the issues faced by
customers are not properly discussed due to lack of writing space. In this regard, she contacted
IT manager of company so that feedback section of organisation's website can be modified. Also,
she conducts meeting with different customers of company to find out the reason of enhanced
returns (Blanchet and et. al., 2017). After understanding she initiate a meeting with production
manager and sales manager of company so that products can be modified for further betterment.
c) Organising of data and presenting findings from Mariana research
To organise data and findings of her research in a proper manner, Mariana can follow the
below mentioned aspects:
 In order to quickly find and sort research documents, it is important for her to name
documents in a unique and consistent manner. She can add elements like site location
information, version number, date so that data can be organised properly.
 Mariana can save the untouched copy of raw data so that original findings can be
preserved safely for emergency situations.
 Adding metadata for the gather information and data will helps in acknowledging which
data is present at which place without checking entire documents (Mittal and Dhar,
2015).
d) Different adjustments to improve this situation
To improve this situation, Mariana can advise the business owner to launch an mobile
application so that customers can easily share their issues and grievances without waiting for
extended periods on telephone hotline. Beside this, Mariana can interact with suppliers so that
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they will provide resources and material of good quality. This will improve the products of
company due to which rate of return can decrease.
QUSETION 4
a) Describe why decisions must reflect value, objectives and procedures of an organisation
It is very crucial for decision making to reflect upon organisational value's, objectives and
procedures. Values of an organisation consist of values and philosophies which acts as a guiding
principles before taking decisions. The decisions taken should carry the purpose for which an
organisation have been formed and fulfil all criteria on ethical and operational grounds.
b) Role of risk management in decision making
Risk Management is an approach which focuses on identification of critical risk to the
business, prioritising the same and lastly devising strategies to effectively deal with the situation.
Before making a crucial decision a business on the basis of severity can decide whether to share,
accept or control the risk (Campanella, Rosaria Della Peruta and Del Giudice, 2014).
c) Consequences of not conducting a risk analysis
Risk analysis attempts to identify and evaluate major challenges which can harm
organisational working. Not conducting a risk assessment can result in disruption in business
operations, harm to organisational reputation, missing opportunities and most importantly
dissatisfaction of customers. Therefore it is an extremely important for an organisation to
conduct a detailed risk analysis.
d) Ways to ensure decision are taken within delegated accountability
Accountability in an organisation can be ensured by setting clear expectation and setting
up of goal which are attainable by an individual. The goal oriented approach can be further
enhanced by forming of checkpoints. These checkpoints will be helpful in understanding and
determining the progress and providing timely feedbacks.
e) Three quantitative method to assist decision making
Different qualitative method which will assists in taking right decisions are decision tree,
payback analysis and simulations. These aspects will benefits in simplifying complex aspects so
that right decision can be taken.
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f) Three strategies to assure organisational procedure and regulatory requirements are met during
decision-making
 Collection of information related with organisational procedures and regulations so that
all the aspects can be considered during decision making.
 Identification of alternative policies and regulations in case modification is required
 Review of decision to ensure organisational procedure are met (Glenn, 2015).
QUESTION 5
a) Complete table according to communication plan of Ella
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Objective: Main objective of Ella is to prepare procedures for new
performance management system
Information checked for
accuracy, sufficiency,
currency and relevance
To check accuracy, sufficiency and relevancy of information, Ella
is going to include face to face meeting with manager of
employees, professional development plan and online personal
performance checklist.
Audience Board of directors, CEO, staff members, managers and executive
management team
Location Information will be given to different audience at different location.
Staff members will be given information during working hours at
office auditorium. Boards and executive management and CEO will
be given information during conference. For managers, Ella can
provide them information by face to face interaction after office.
Dissemination methods To share information and content with audience, Ella can use
DVD's and documents
Time line To communicate information in a proper manner, Ella require a
time period of one week so that sharing of information at
conference and auditorium can take place desirably.
Policies/procedures to
be met
While formulating professional development plan, online
performance check-list, Ella needs to ensure that no employee or
employer of company will get impacted in a negative manner.
Policies required to be follow are employee conduct policy,
attendance and time off policies, workplace security policies etc.
Security/confidentiality
status Work performed by Ella will be remain confidential unless the
entire project will complete. In this way work can be performed
without any unnecessary interference.
Action  Ella has met with the IT administrator of company so that
work on new performance management system can be
started as soon as possible.
 Decisions are taken to meet requirement
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b) Checklist to record information Ella disseminates to staff during her communication plan
Basis Yes No
1. Are you able to understand concept of new performance
management system
√
2. Do you have issues with involvement of procedures like
Online performance checklist, face to face meeting and
professional development plan
√
3. Does communication plan has clear statement of
employment criteria
√
4. Providing information through DVD and document is
beneficial or not
√
5. Does auditorium/ conference session waste your time √
CONCLUSION
From above mentioned report, it can be concluded that to achieve desired results, it is
important to manage information and knowledge in a desired manner. If company will not follow
aspect like risk management, appropriate decision making. Statistical analysis and sensitivity
analysis benefits in adopting those aspects which will be beneficial for company. A
communication plan benefits in sharing information with entire staff in a proper manner.
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REFERENCES
Books and Journals
Orna, E., 2017. Information strategy in practice. Routledge.
Webb, S. P., 2017. Knowledge management: Linchpin of change. Routledge.
Paré, G. and et. al., 2015. Synthesizing information systems knowledge: A typology of literature
reviews. Information & Management. 52(2). pp.183-199.
Glenn, A. D., 2015. Using online health communication to manage chronic sorrow: mothers of
children with rare diseases speak. Journal of pediatric nursing. 30(1). pp.17-24.
Alberghini, E., Cricelli, L. and Grimaldi, M., 2014. A methodology to manage and monitor
social media inside a company: a case study. Journal of knowledge management. 18(2).
pp.255-277.
Blanchet, K. and et. al., 2017. Governance and capacity to manage resilience of health systems:
towards a new conceptual framework. International journal of health policy and
management. 6(8). p.431.
Mittal, S. and Dhar, R. L., 2015. Transformational leadership and employee creativity: mediating
role of creative self-efficacy and moderating role of knowledge sharing. Management
Decision. 53(5). pp.894-910.
Campanella, F., Rosaria Della Peruta, M. and Del Giudice, M., 2014. Creating conditions for
innovative performance of science parks in Europe. How manage the intellectual capital
for converting knowledge into organizational action. Journal of Intellectual Capital.
15(4). pp.576-596.
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