Information Management Strategy
The society today is made up of complex sources of information that range from the internet to articles. It is therefore essential for both customers and workers within an organization to have access to the correct source of information in order to effectively carry run out the company’s duties. The basic aim of the information management strategy is to support an organization’s network through enhancing the organization’s management of data and creating a more accurate and efficient way of sharing information with other external stakeholders.
This paper seeks to establish an information management strategy for Intel Company which is a prominent semiconductor manufacturing industry. The company has its headquarters in the United States while its markets are concentrated outside the US with major targets being Latin America, Asia Pacific and in Europe. The company applies direct marketing and electronic order system in selling its products. It has no retail shops in its potential market and therefore having an appropriate data management system will help the company serve its markets better. The flow of information within the various departments such as the human resource department, the finance department, the manufacturing department, the marketing department, and the management department should be accurate, precise and easily understood to increase efficiency and boost performance within the company. Therefore, Intel’s directors, departmental heads and other senior officers and staff members are pivotal in ensuring that this strategy succeeds.
Reasons for Change
Intel’s product market has been declining in the recent past with operating costs increasing. This has resulted from both internal and external pressures that the company faces. The company faces internal challenges such as low inventory turnover, declining operating margins, increasing debt ration and wakened financial position. The company also faces other external challenges such as competition from key competitors like AMD Company, counterfeit products, growing popularity of some semi conductor’s instruments and apparatus, and major changes in regulatory framework. In order to adequately curb all these challenges, the company has to adopt a concrete information management strategy in specific departments and in its overall administrative processes. This strategy will help the company protect what it already owns and encourage appropriate dynamic capabilities and knowledge management.
The Information Technology Department
Adequate use and application of information technology can act as the company is sustainable competitive advantage. The company will come up with an information technology department that will play the roles of establishing a stable online data base which is to be maintained and well managed to provide appropriate data to both the customers and employees within the organization. The department will be in charge of ensuring that the company has a reputable online profile which provides all the basic information about the company’s products and the advantages that accrue from the use of those products. The department will also serve the purpose of ensuring that any online data about the company is constantly updated with relevance to dynamic market trends and technological changes. This will help the company continue meeting the ever changing customer demands in order to maintain its profit margins.
The department will also be ensure that the company’s products are secure from any form of fraud that may come as a result of online marketing and make the customers aware of such fraud so as to uphold the company’s high profile. The department will also act as an overall supervisor of the data system to ensure that it works accurately and efficiently to meet the company’s objectives, visions and mission. According to Haines, appropriate investment in the information technology system gives a company a sustainable competitive advantage over its competitors hence can help boost the company’s profit margins. It is therefore crucial for Intel Company to heavily invest in its IT department to ensure that it serves many customers as well as employees in an easy and accurate manner.
Promoting Online Marketing
The basic role of nay management strategy is to promote and boost the business needs of an organization. Intel Company aims at expanding globally to outdo its competitors. In order to succeed, accurate and precise online marketing is crucial. This is because it serves many customers and employees at the same time while reducing investment costs such as building retail shops. To attain this core goal of widening its markets the company should promote online marketing which can be facilitated by appropriate data management and construction of data systems that are customer oriented and store information in an understandable manner.
The online system will include an online store which shows all types of products and services offered and manufactured by the company. A complete description of the use of those products and advantages which come along with the customer purchasing those products will also be clearly explained in the online data base. It will also include appropriate ways in which customers can purchase the products and get the products delivered at their door step. The company’s website will also be enhanced to include proper adverts about the company’s products, and give the customer some hints as to how to avoid falling prey of counterfeits. All these steps will help boost the company’s online sales and its general performance since all information about the company will be easily accessible online without the customers all employees struggling with large files and logbooks to find more data about the company and generally reduce the company’s operating costs.
The data system should be maintained to promote accountability to the company for the form of products and services that the company offers. This will be achieved through creation of a common pool of information office from which all information about the company can accessed or even retrieved from. This will include clear ownership information, the records of products manufactured by the company and other performance records of previous years. This will help promote the consistency of the information used in checking the company’s performance and resolving disputes in circumstances where they arise. It will also help the organization in decision making and coming up with appropriate strategies to help boost the company’s performance.
Audit ability and traceability
The information management strategy that is to be initiated by the company should demonstrate a high level of information that ensures all the processes and the procedures undertaken in the company are in accordance to the vision and mission statement of the company. As such they should be fully traceable and the inherent audit standards that are to be undertaken should in place, thus fulfilling the utmost Duty of care that is required in any organization with imminent concern to the information system of the company.
Duty of Care
The information management system to be implemented by the company should put into consideration the confidentiality and privacy that is required in the organization in an attempt to comply with the regulatory and legislative constraints. The implementation should ensure that the customer’s confidence is restored in an attempt to handle the data for the organization effectively in the realization of the strategic goals for the organization. The organization is well known for the high number of profile data which ensures that the data available is secure and that the shareholders of the business entity are guaranteed.
Information Management Vision
The strategic vision for the company will ensure that the information environment in which the organization undertakes his business is highly knowledge based, business driven, and secure. In the case of business driven, the manager’s collaboration with the entity’s staff and the partners will ensure that the processes of the information management are in the right place in an attempt to facilitate the achievement of the operational objectives and the core business functions. The knowledge based inspires the staff of the organization in the quest of providing the organizational learning through the intranet, and the frequently asked questions. The system should be integrated in an attempt to incorporate wide range of sources that will be available to the staff by means of a single interface. This will enhance the manipulation and easy comparison of information regardless of the management’s use of the source.
In accordance to the information management strategy in which the management should focus on the company and will ensure that the information available is valued as an asset and as such the attitudes and cultures within organization fostered towards the information assets. Professionalism of the business operations is enhanced when the organization is undertaken and as such the business undertakings are guaranteed. The information strategy will ensure that the information provided by the organization is accurate and with high level of integrity. Therefore, the investors will be able to rely fully on the company’s information. The employees are also able to identify the unambiguous and quick version of truth in the information presented. This will be done by the location of the master piece of information in which the business entity incorporates.
Content, Documentation and the record management
In accordance to the principles underlying the business entity and the competitiveness of the economy as a whole, the significance of the initiatives implementations in the case of the information management Strategy will articulate on the accessibility and the ease of sharing the information across the business entity. As such it ensures that the effort of filing, finding and accessing the information will be tremendously decreased and respond to the ad hoc queries will be efficient.
The practicability of the policies of the Information Management is embodied in the working practice and the business processes will ensure that retention policies applicable in the organization are effective. This will ensure that the information storage that are required in the entity are reduced hence facilitating the timely and coherent response on the organizations undertakings. Consequently, the increased collaboration between the various departments in the organization will enhance identification of various opportunities which will increase the sharing of the best practice that the organization relies on. This is enhanced by the overall creation of the electronic records which will enhance management facilitation across the whole organization; therefore, the company avoids the unnecessary overheads functions which will enhance record management. Ultimately, such an endeavor is deemed to decrease the litigation risk and the damages in which the organization will face in the long run.
The use of the Information management strategy will enhance e-processing, electronic workflow and the e-processing which will increase the standardization in the business operations. As such the business operations will ensure that there is increased target achievements, the complaints of the business operations are decreased, there is imminent increase in the customer satisfaction and as such the rework in the fire fighting. This will ensure that there is efficiency in the savings and the cost reductions.
Cost Savings Efficiency
E-processing, automation and the electronic documentation especially in the area of the correspondence tracking will ensure that there is efficiency in the expected delivery of savings by decreasing the fire fighting and the rework in the organization. In essence, there will be tremendous decrease in the staff’s effort through the avoidance of double handling which will enhance different formats as such error reduction is guaranteed as the data is keyed into the system once. The increase in the direct access to the information will be expected and as such generation of efficiency in the savings. The decrease in the paper storage space in the organization will be articulated to through they reduced archives in the form of papers and the basis of per employee, will also be expected t generate high level of savings for the organization.
The implemented Information Management System in the organization will be aligned to the dependable customer services strategy which will aid in the creation of the customer’s single view and also in the joining up of the various services buy use of the information sharing strategy. The increased level of customer satisfaction is advertently brought about by the Information Management System. For instance, the direct contribution of the system is seen when there are increased opportunities when there are increased joint operations through sharing of information and the increased information exchange integration among the strategic applications.
Performance Management Management Information
The establishment of the management system which focuses on the performance of the organization as a whole will ensure that there is increased accuracy, equity, performance coverage, timeliness and the management information. Such an establishment aims at ensuring that the effort spent and the amount of time used in production and report generation is decreased. As such there will be increase in the ability to understand one another in the organization and the management of the performances is guaranteed. This will go along way in increasing the budget allocation and demonstrate the best value of its operations in the long run.
Flexibility and Mobile Working
The information management system will ensure that there is provision of support which will enhance the flexibility and mobile working by ensuring that he employees are able to access the record and electronic documentation without regard to the geographical location. In the case of information security, training is considered a practical undertaking in an attempt to ensure that they achieve the required level of satisfaction.
The strategy implemented by the management will enhance an increased legislative awareness and the regulatory constraints which are placed on the organization which will enhance the sprouting of the Data Protection in the organization. There will be increased performance and increased compliance when responding to the requests. The effective compliance will be achieved when the enacted policies and the procedures that regard to the storage, retrieval, inventory and the destruction are implemented.
In conclusion, the enactment of the Information Management Strategy will be enhanced by the company upon realization of the company’s vision statements, missions, objectives and the strategic goals. This will enhance the company to ensure that the procedures undertaken in the organization will enhance the realization of its competitiveness in the economy.