Strategic Information Management

2916 Words Jan 15th, 2013 12 Pages
Final Assignment: CMI Level 7: Strategic Leadership and Management

Unit 7004: Strategic Information Management

Table of Content

What is Information Management | Page 3 | Importance of Information Sharing and Legal obligations for sourcing, storing and sharing information | Page 7 | Using Information for Strategic Decision Making | Page 14 | Monitoring and Reviewing Management Information | Page 17 | References | Page 19 |

What is Information Management

Information Management is the collection and management of information from one or more sources and the distribution of that information to one or more audiences.
Chaffey, D. & Wood, S. (2005) in their book “Business Information Management: Improving
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To help support this every organisation has an Information system. The UK academy for Information Systems defines information systems as “the means by which organisations and people, using information technologies, gather, process, store, use and disseminate information”
Cashmore and Lyall (1991), explain that the purpose of Information System is to: * Collect and store data which may be converted into information at some later point in time * Provide operational information to ensure that everyone can do their job as well as possible and to assist in the general running of the organisation * Extend the value chain of the business so that the organisation’s information system can link with the information system of customers and suppliers. This should result in benefits and improved information flows

Importance of Information Sharing and Legal obligations for sourcing, storing and sharing information
In the previous section we determined the impact of management information on decision making process within an organisation. One of the Critical Success Factors (CSF) that enables effective decision making is “Information sharing”. This allows managers to take the right decision at the right time.
According to C. Cashmore and R. Lyall (1991), information needs of managers across the organisation can be linked to the decisions they make. They suggest these can be split into two broad categories: * Strategic Decisions: relating to
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