Strategic Information Management

Part 1: By completing this unit, you should now be able to understand the impact of management information on decision making within an organisation (Learning Outcome 1)

• Identify data and information and identify the key features of each.

• 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 an MIS to an organisation in terms of efficacy.

Illustrate your answers with examples from your own workplace where possible.

(Indicative word count: 700 – 800)

Assessment Criteria

1.1 Identify the features of data and information

1.2 Determine the criteria to be applied when selecting data and information to support decision making

1.3 Evaluate the impact of a management information system to an organisation

Part 2: By completing this unit, you should now be able to understand the importance of information sharing within the organisation (Learning Outcome 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 within the organisation.

• Describe six types of information which an organisation can offer to employees and how this is accessed.

• Identify four formats in which information can be offered and evaluate how effective these formats are within the organisational context.

Illustrate your answers with examples from your own workplace where possible.

(Indicative word count: 700 – 800)

Assessment Criteria

2.1 Determine the legal responsibilities in sourcing, sharing and storing information

2.2 Discuss when information should be offered and access allowed

2.3 Evaluate the formats in which information can be offered

Part 3: By completing this unit, you should now be able to be able to use information to inform and support strategic decision making (Learning Outcome 3)

• Select one form of information from an organisation and analyse it to identify any patterns or trends. Consider comparative analysis such as year on year or same month/period each year over a period of years. Make clear judgements from your analysis and explain how it may assist with future planning.

• Describe two sources which may assist in analysing data and information. Consider the value of internal and external sources.

(Indicative word count: 600 – 700)

Assessment Criteria

3.1 Analyse information to identify patterns and trends

3.3 Determine the sources available to assist in analysing data and information

Part 4: By completing this unit, you should now be able to:

Use information to inform and support strategic decision making (Learning Outcome 3)

Be able to monitor and review management information (Learning outcome 4)

• Identify three decision making tools/techniques and evaluate how effective they are in supporting strategic management decisions.

• Critically review three methods of evaluating management information in relation to its accuracy. Explain the importance of correct management information when supporting the decision making process.

Illustrate your answers with examples from your own workplace where possible.

(Indicative word count: 450 – 550)

Assessment Criteria

3.2 Evaluate a range of decision making tools and techniques available to support a strategic decision

4.1 Critically review methods of evaluating management information within an organisation

Part 5: By completing this unit, you should now be able to monitor and review management information (Learning Outcome 4)

• Evaluate four methods an organisation can use to develop data collection and support strategic decision making. Consider internal and external sources of information capture and the potential benefits to the organisation of utilising wider sources.

• 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.

Illustrate your answers with examples from your own workplace where possible.

(Indicative word count: 550 – 650)

Assessment Criteria

4.2 Evaluate methods of developing information capture to inform and support strategic decision making

4.3 Discuss processes for analysing impact of information on strategic decisions made

Reflective Statement

Describe how you believe the knowledge and understanding you have gained from completing this unit will help you in your role as a strategic manager in the future.

(Indicative word count: 250 – 300)