Unit Code & Title :- 704 Information Management And Decision Making
Assessment Type :- Assignment
Introduction :- The unit will address the volume and complexity of data and information available to organisations and how to analyse apply and determine its value in making strategic decisions.
704 Information Management And Decision Making Assignment – UK
Scenario :-
Learners may use their own employment context or that of another organisation with which they are very familiar, to base their assignment. However, in the case that they are not able to do so please use the below scenario: –
You are a manager at a medium sized organisation. You have been asked to develop your organisation’s management information system to ensure it conforms to legislation and provides accurate and relevant data. Analysis of historical data to inform future strategic direction is part of your current role.
Task 1:
Critically discern the process of converting data to information under standing knowledge and wisdom. Critically review the key features at each stage in the cycle drawing conclusions and making robust recommendations.
When making management decisions determine the criteria to be applied when selecting data and information to support decision making. Consider the validity of sources of information.
Describe the main functions of an organisation’s Management Information System (MIS).Evaluate the impact of a management information system to an organisation in terms of component efficiencies and wider organisational effectiveness.
A.C. 1.1 – Critically identify the features of data and information
A.C. 1.2 – Determine the criteria to be applied when selecting appropriate data and information to support strategic decision making
A.C. 1.3 – Critically evaluate the impact of a management information system to an organisation
Task 2:
State the organisation’s responsibilities in sourcing sharing and storing information to ensure legal compliance. Identify two types of information which may have restricted access with in the organisation.
Critically discuss six types of information which an organisation can offer to employees and how this is accessed.
Critically evaluate four formats in which information can be offered and evaluate how effective these formats are within the organisational context.
A.C. 2.1 – Determine the legal responsibilities in sourcing, sharing and storing information
A.C. 2.2 – Critically discuss when information should be offered and access allowed
A.C. 2.3 – Critically evaluate the formats in which information can be provided and the impact of using various formats
Task 3:
Select one form of information from an organisation and critically analyse it to identify any patterns and trends. Consider comparative analysis such as year on year or same month/period over a period of years. Review the impact that such patterns and trends have on the strategic decision making processes. Electronic decision making tools may be considered if appropriate to your scenario.
Critically evaluate four decision making tools. Determine their fitness for purpose from a criterion devised by you and stated. Explain the importance of valid management information when supporting the decision making process. Make clear judgements from your analysis and explain how it may assist with future planning activities at strategic level.
Determine two sources which may assist in analysing data and information. Consider the value of internal and external sources. Your source audit should be detailed and consider all relevant factors legal ethical social essential to operations.
A.C. 3.1 – Critically analyse information to identify patterns, trends and impact on strategic decision making
A.C. 3.2 Critically evaluate a range of decision-making tools and techniques available to support a strategic decision
A.C. 3.3 – Determine data and information sources available to assist in strategic decision taking
Task 4:
Critically review four methods an organisation can use to develop data collection to inform and support strategic decision making. Consider internal and external sources of information capture and the potential benefits of utilising wider sources for the organisation. Where possible conceptual evaluative techniques should be used, to add validity and robustness to processes.
Describe how an organisation can analyse the impact of information on strategic management decisions. Explain why it is important to have a rigorous process to analyse the impact information can have on strategic decisions.
Review four methods an organisation can use to develop data collection to inform and support strategic decision making. Consider internal and external sources of information capture and the potential benefits of utilising wider sources for the organisation.
A.C. 4.1 – Critically identify methods of evaluating management information within an
organisation
A.C 4.2 Formulate processes and methodologies for analysing the impact of information on the strategic decisions made
A.C 4.3 Determine methods of developing information capture to inform and support strategic decision making
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