Information Management Assignment: Study On Management Information System of METRO
Information Management Assignment Instructions:
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 – 750 words
1.1: Criticallydiscerntheprocess ofconvertingdatato information,understanding,knowledgeand wisdom.Criticallyreviewthekey featuresateach stage in the cycle, drawing conclusions and making robust recommendations. (250 words)
1.2: When making management decisions determine the criteria to be applied when selecting data and information to support decisionmaking.Consider the validityof sources of information. (250 words)
1.3: Describe the main functions of an organisation’s Management Information System (MIS). Evaluate the impact of a managementinformationsystem to anorganisation in terms ofcomponent efficiencies and widerorganisational effectiveness. (250 words)
1.1: Critically identifythe featuresof data andinformation.
1.2: Determinethecriteria tobeapplied whenselectingappropriatedata andinformationto supportstrategicdecision making.
1.3: Criticallyevaluatetheimpact ofamanagement informationsystem toanorganization.
Task 2 – 600 words
2.1: State the organisation’s responsibilities in sourcing, sharing and storing information to ensure legal compliance. Identify two types ofinformationwhich mayhave restricted access within the organisation. (200 words)
2.2: Criticallydiscuss sixtypesof informationwhich anorganisationcan offertoemployees andhow thisisaccessed. (200 words)
2.3: Critically evaluate four formats in which information can be offered and evaluate how effective these formats are within theorganisationalcontext. (200 words)
2.1: Determinethelegal responsibilitiesinsourcing, sharingandstoring information.
2.2: Criticallydiscusswheninformation shouldbeofferedandaccess allowed.
2.3: Criticallyevaluatetheformats inwhichinformation canbe providedandthe impactof usingvariousformats.
3.1: Selectoneform ofinformationfroman organisationandcriticallyanalyse ittoidentifyany patternsandtrends.Consider comparativeanalysis such as year on year or same month/period over a period of years. Review the impact that such patterns and trends have on thestrategicdecision-making processes.Electronic decision-makingtools maybeconsidered if appropriateto your scenario. (200 words)
3.2: Criticallyevaluatefourdecision makingtools. Determinetheir fitnessfor purposefrom acriteriondevised byyou, andstated.Explain theimportance of valid management information when supporting the decision-making process. Make clear judgements from your analysis and,explainhow it mayassist with future planning activities at strategiclevel. (225 words)
3.3: Determine two sources which may assist in analysing data and information. Consider the value of internal and external sources. Yoursourceaudit should be detailed, and consider allrelevant factors, legal, ethical, social, essential tooperations. (175 words)
3.1: Criticallyanalyseinformationto identifypatterns,trendsand impactonstrategicdecision making.
3.2: Criticallyevaluatearangeofdecision-makingtoolsandtechniquesavailabletosupporta strategicdecision.
3.3: Determinedataand informationsourcesavailableto assistinstrategicdecision taking.
4.1: 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. Wherepossibleconceptual evaluative techniques should be used, to add validityand robustness to processes. (250 words)
4.2: Describe how an organisation can analyse the impact of information on strategic management decisions. Explain why it is important tohavea rigorous process to analyse the impact informationcan have on strategic decisions. (150 words)
4.3: Review four methods an organisation can use to develop data collection to inform and support strategic decision making. Considerinternalandexternal sourcesof informationcapture andthe potentialbenefits ofutilising widersources forthe organisation. (150 words)
4.1: Criticallyidentifymethods ofevaluatingmanagement informationwithinanorganization.
4.2: Formulateprocessesandmethodologiesforanalysingtheimpactofinformation onthestrategicdecisionsmade.
4.3: Determinemethodsofdevelopinginformationcapturetoinformand supportstrategicdecisionmaking.
Data is the raw information containing facts and figures on the particular topic and after it is being processed it gets converted into meaningful information. For instance: the data collected in census is not useful until it is not being processed. Herein information management assignment, the management information system of METRO has been studied.
This report covers the process of conversion of data and criteria which is applied to support the decision making along with its validity. Moreover, the plethora of functions of management information system has also been studied. It also enables the information which has restricted access within the organisation. It is observed that the importance of valid information system is for controlling the records, to deduct the operational cost being incurred, to improve the productivity, to adapt new information technology, to reduce the legitimate risks being involved, to ensure regular compliance to information and many more. SWOT analysis tool serves an organization with various strategically analysis. It is based on the people viewpoints and also helps in action plan formation. The company uses it for rewarding their people, improving themselves, utilization of their resources to fullest and be ready to face any unforeseen problem. There are different methods of data collection which includes interview, focus groups, observation, questionnaires and many more.
- The Company must focus on different analyzing techniques through which they can improve the performance of the company.
- It must also check the criteria which support the decision making of the company so that the better decisions can be taken.
So, from above it is observed that the importance of valid information system is for controlling the records, to deduct the operational cost being incurred, to improve the productivity, to adapt new information technology, to reduce the legitimate risks being involved, to ensure regular compliance to information and many more.
METRO is a main global expert in discount and food retail which works in 34 nations and utilizes in excess of 97,000 individuals around the world. In monetary year 2019/20, METRO created deals of €25.6 billion. METRO Cash and Carry is the discount division of METRO. The organization provides custom answers to meet the provincial and worldwide necessities of its discount and retail clients. Data is the raw information containing facts and figures on the particular topic and after it is being processed it gets converted into meaningful information. For instance: the data collected in census is not useful until it is not being processed.
The Aim and objective of this report is that it controls the functions of management to provide quick, timely and accurate information to them.It helps an association's leaders settle on choices that further develop the association's plan and consolidate the organization's authoritative design and elements to all the more likely influence the association for an upper hand. The importance of valid information system is for controlling the records, to deduct the operational cost being incurred, to improve the productivity, to adapt new information technology, to reduce the legitimate risks being involved, to ensure regular compliance to information and many more. The scope of the report is that it covers the course of transformation of information and standards which is applied to help the decision making alongside its legitimacy. Additionally, the plenty of elements of the executive’s data framework has likewise been examined. It likewise empowers the data which has confined admittance inside the association. It focuses on re-creation measurements which assists the executives with peopling to take productive choice. This report covers the process of conversion of data and criteria which is applied to support the decision making along with its validity. Moreover, the plethora of functions of management information system has also been studied. It also enables the information which has restricted access within the organisation. Furthermore, the various methods of data collection have been studied.
1.1 Answer. Data is characterized as the crude information containing raw numbers on the specific theme and later it is being handled it gets changed over into significant data. For example: the information gathered in evaluation isn't helpful until it isn't being handled.
The course of transformation of data into significant information is given beneath:
1. Data collection: The chief point during the time spent changing over data into information is that the crude raw numbers. It is the social event of every single required reality, figures and rationales whether or not it is useful, essential or not, solid or not. A decent pioneer ought to consistently separate that information which ought to be identified with the subject of the subject and it ought to expand the extent of use of the data. Sometimes, the data is not provided correctly and timely.
2. Storage: The subsequent stage of the data change to valuable information is that the manner by which it tends to be put away fittingly. The capacity is vital piece of the information transformation since it is both science and expressions as putting away the information can incorporate numeric structure, alpha-numeric structure or some other method of data recovering. For instance, books put away in library are for the most part kept in alpha numeric structure with the goal that when any book information is required it very well may be handily looked out. Sometimes, the data stored can be removed or deleted.
3. Finding Manipulations: The subsequent stage of the data change to valuable information is that the manner by which it tends to be put away fittingly. The capacity is vital piece of the information transformation since it is both science and expressions as putting away the data can incorporate numeric structure, alpha-numeric structure or some other method of data recovering. For instance, books put away in library are for the most part kept in alpha numeric structure with the goal that when any book information is required it very well may be handily looked out. Sometimes, the data is manipulated through which the correct information is not received.
4. Retrieving Data: The other part of extraction of information is the manner by which the data can be gotten at the hours of criticalness and how promptly it would be accessible. The valuable information is being isolated independently and the ones which are not utilized they are being scratched or placed into various information. Sometimes, the data is removed due to some reasons, it is not easy to retrieve the data.
5. Distribution of Information: It means to fill the need of the report through the information base given. For example: the data can be assembled through the structure given to the competitors at the hour of prospective employee meeting. Sometimes, it is not possible to distribute the information as the base is not cleared.
It has been observed that one of the problems at this stage of conversion of data into information is that the appropriate way in which the data can be stored and it can be kept confidential.
The recommendations at this stage are the adoption of security tools and segregation of information as important and unimportant or confidential or un-confidential.
1.2 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.
Answer: Data is the most important thing for an organization concern. It is very important that the data should be collected very carefully because while taking decision of the organization concern the data collected becomes the base for it and if data collected turns to be irrelevant or not reliable than wrong decisions can be taken. There is set of criteria which should be applied in this case and is mentioned as below:
1. Accuracy of data: an accurate data is very important to have highly valuable results and a great base to make decision. For the collection of accurate data, it is important to have in mind the timeliness which can otherwise be declared as void.
2. Completeness: the data extracted should be completely be authenticated if it is complete in its own self. If data is incomplete than it cannot serve as proper sound base for decision making.
3. Validation of data: the validation of data is marked by the careful collection of data and from the verified source.
4. Consistency: the data should be consistent in nature because it is important that all the data collected should have linkage between them.
The validity of data can be determined by the following ways:
1. You need to examine the authenticity of the information
2. The time line also plays an important role here as the data should be collected at the recent times only while taking the decisions.
3. Determine that any biased data is being involved in it or not.
4. Cross verify the evidence from where that data has been extracted.
1.3 Answer: The main functions of the Management Information System of Metro are mentioned as below:
1. Improve decisions: It helps to serve as the base on the variety of management issues and also to improve the decision-making skills of the company to a great extent. The faster pace and accurate information being retrieved by MIS helps the managers to take quicker and better decisions and adopting this into their daily practice.
2. Improvement in efficiency: Management information system helps to improve efficiency by easy retrieval of information and one central point to gather the information. It gets reflected in the increase of productivity rate.
3. Connectivity: Management information system provides a linkage between the various departments of the organization.
b) Its impact:
It provides better access to the information resources.
1. Formulation of policies: an effective management information system helps the company to formulate policies in regards to their planning, implementation of course of actions.
2. Strategic information use: it helps the company to increase their productivity and for enhancing innovation. The strategic information sources are used for paying attention towards increasing creativity and for productivity.
3. Accessing information through ICT: information and communication technology is being used for extracting information. These kinds of tools help the companies to achieve information like products, researches, quality, communication with customers etc.
1. Can be used to serve the purpose and legal in nature.
2. It should be processed well and should be updated.
3. An individual’s information should be kept safe and should not be retrieved to anybody.
4. It should not be transferred to the third party until consent has been taken.
5. It should be secured from any kind of threats.
The process by which the company assess the data that may hold and also protect information is called information classification.
In most of the cases, the classification according to confidentiality the companies - who is being granted to access or see the information. A very common system of information includes four level of confidentiality:
1. Confidential (only the top management would access)
2. Restricted (to this most of the employees have access like dongle usage, email Id)
3. Internal (all the employees of the organization have right to this kind of information)
4. Public Information (this is the kind of information to which everyone has the access to)
The major kind of information which is being restricted to use are as follows:
1. Restricted Information: The information should be regarded as restricted to use when that data involves a magnitude of risk in it to be disclosed or leaked out to the public or other parties being involved. For instance: restricted data includes the data stored and protected by the state or central government and is under confidentiality. Even the national defense related is also secured and restricted to disclosure.
2. Private Information: The private data by the name is clear that the data information which is being confined to one individual and it involves moderate risk level in it. The reasonable level of security is being implied on it. For instance, record of employee income, age, background, personal details etc. are some of the examples of private data. Even the data stored with doctor about the patient is private data.
2.2 Answer: There are different kinds of information which the company should make its employees aware about. The some of the kind of information’s to be disclosed are given below of Metro:
1. Descriptive Information: It includes Description of rules, explanation of the state of organization and about changes. Organization must explain the rules as well as the culture and any changes that took place must inform to employees and updated information must be provided.
2. Probabilistic Information:
Data under this class is by and large dependent on factual induction, projections or presumptions about conduct. Arranging information fell into this class. Venture choices depend on it. Frequently this data is gotten from models that of surmised this present reality numerically.
3. Judgmental Information: It includes the opinions of other subordinates.
4. Information about disclosure of terms and conditions: The employer should make his worker mindful with regards to the agreements being relevant to his administrations and furthermore that how should he deal with delegate his obligations dependably. For example, the residency of administrations, method for applying for renunciation, disciplines on non-execution, reward framework and so forth ought to be unmistakably referenced in the agreements.
5. Disclosure of Company management information system (MIS): An employer should make his representative have any familiarity with the agreements to be followed once the executive’s data framework is being material in the association.
6. Logical and Evaluated Information:
This is the foundation information utilized by chiefs to get what is happening around them. The configuration MIS may give an extent of this individual correspondence and experience supplement it. Once more, these might be sub classifications, as a result of the presentation by a contender of a full of feeling item. Quite a bit of this data is casual and proposes the justifications for why numerous PC frameworks are not exactly effective as the architect has disregarded the casual part of the general framework.
The rules are not informed timely to the members and sometimes the rules can be changed in a very short time. Organization culture involves the different fields and it is not adaptable. These can be assessed through the higher authorities or human resource department.
All the formats are given as:
In this data are given through different electronic means, for instance, PC created E-mail, Ms Word record, Excel sheet, etc while manual data are almost are given on papers for instance printed or physically composed, for instance, log books, letters, books, reports, etc.
Arrangements of Individuals
Rundown of individual could be PC created or manual, which contains insights regarding representatives and different subtleties
Libraries are effective and particularly coordinated data storing structure used in PC to holds data archives, envelopes, records, and accounts in an authentic solicitation, etc. Now days there are various electronic libraries holding computerized book, e-journal, etc. Not simply
These are utilized by PC framework for getting sorted out different organizers, projects and documents on a plate in graphical UIs (GUI) generally addressed with a graphical picture (symbol) of record envelope on the screen.
The above formats in which information can be offered are very helpful as these helps in cost saving and also time saving. Sometimes, the information provided through these formats can be leaked, and not from the effective sources. There are chances that the folders can b removed or system might be hanged.
Answer: The one of the information that is Restricted information in an organization named Metro. We have considered SWOT as a decision-making tool.
S stands for Strength- it counts about the plus points of the organization and also what the organization is good at which makes it different from its competitors. It is basically the competitive advantage over the rivals. For instance, it can involve the uniqueness of the product or software being used. W stands for Weakness: it involves the factors which can lead to the minus of the organization. It includes the lacking points.
O stands for Opportunities: it involves the scope of improvement in the organization. T stands for Threats: it involves the uncertainties which may arise in the near future for the company. Like entry of new entrants in the organization. It is the challenge which can arise any time for the organization. For instance, strikes and lockouts.
Threats can be risk for the organization assuming that they are not being distinguished at the ideal opportunity and took care of toward the actual starting. So the organization ought to be well cognizant with regards to it.
SWOT analysis tool serves an organization with various strategically analysis. The company uses it for rewarding their people, improving themselves, utilization of their resources to fullest and be ready to face any unforeseen problem.
1. Critical success factor: In this sort of approach of dynamic the necessities of the association are considered. There are many elements which assume a significant part in the association for its prosperity, which are known by the name basic achievement factor. In the event that an association is neglect to do as such than it can affect it contrarily.
2. Model driven DSS: Under this sort of model the association finds support to pick the most ideal choice accessible. This is a framework which is being utilized by the association to cooperate with its kin. There are various ways of utilizing it like through equipment/programming or through customer association module.
3. Data mining: Under this kind of model the affiliation tracks down help to pick the best decision available. This is a system which is being used by the relationship to help out its kinfolk. There are different methods of using it like through hardware/programming or through client affiliation module
4. Data driven DSS: under this framework the staff or individuals included can get some information about their inquiries from the organization data set administration framework and it is being addressed appropriately through utilizing this framework as it were. This framework is typically utilized through the web mode.
Above are the dynamic apparatuses that assist us with having every one of the potential options in contrast to our choice that we had made, its expense, just as odds of coming out on top or disappointment. These are extremely useful as it helps us in productivity, cost in future.
The various importance of valid information system is as below:
1. For controlling the records.
2. To deduct the operational cost being incurred.
3. To improve the productivity
4. To adapt new information technology.
5. To reduce the legitimate risks being involved.
6. To ensure regular compliance to information.
The above-mentioned methods can assist in the strategic decision-making process in the following manner:
1. It can reveal the importance of various kind of information.
2. It gives a comparison between the various alternatives available, thus helps to make a best decision.
3. It solves the queries of the people.
4. It looks after the need of the people of the organization.
3.3 Answer: The information source is the most important part of any organization, the data or the information being gathered should be kept carefully and their authenticity must be checked as they are going to serve as the base for the decision making. This may include employees, customers and other organizations as their source of information. There should be criteria to measure the authenticity, validity and reliability of data.
1. Technology oriented: for running and storing information about the products, employees, stocks etc the software should be available with the managers. By usage of such resources it can reduce time and cost.
2. People resources: the resources like employees and managers should be considered important as they can provide the information about internal affairs like cost, quantity, stocks etc available.
These aides in investigating information and data as we will utilize innovation just as individuals’ assets to extract data from various sources
Other than this it can be divided as internal and external sources value. As internal source it includes: memos, emails, notices, circulars and bulletins. As external source it includes source of marketing information obtained by the external forces. Value is the number of emails received, circulars, bulletins and many more that depend on company.
wo kinds of Sources which helps us in investigating information and data are:
The Information framework assessments the information collected from the market and considering the appraisal the alliance can pick about the thing quality improvement, increment viability, change thing cost and can pick about the start of new things and connection future planes (Mishra et al., 2015)
Considering the Information structure appraisal of the market information alliance can pick about what regard decrease, works on quality, further make propelling effort, more work environments to client and monetary sponsor, enough receptiveness, and so on as challenge with other connection.
4.1 Answer: The four different ways or methods of data collection using the internal and external sources are as follows:
1. Observation: observation implies to noting down the behavior of others through their actions. Making observations is a quick way of data collection with minimum input.
- This is the simple way of noting the data.
- The interpretation to this data is very simple.
- The time and cost involved in this kind of observation method is minimal.
- More difficult observations cannot be interpreted well.
- It needs expert’s advice on it.
- There are chances that the important information can be missed out.
This method is used for orderly tasks, manual interventions etc.
2. Questionnaires: the other method of data collection is questionnaire preparation. It includes number of questions which are interrelated to each other.
- It gives the chance to the researcher to frame the questions in a well-structured manner.
- It can be filled as per respondent convenience.
- It is limitless search on it.
- Cannot check the real authenticity of the respondent.
- May lack knowledge
- Respondent may not feel free to answer about personal details.
- It can be used in the fields like newspaper reading habits, project reports etc.
3. Interview: it can help to overcome the limits of the previous data collection types.
- It can help the researcher to unfold the deep topics and gain knowledge about the relevant information.
- The respond can get a comfort in the presence of the interviewer and can seek help from him if needed to understand the topic.
- The interview method can draw better results.
- The reach to large number of masses becomes difficult in this case.
- The interviewer may lack knowledge to have good communication with respondent
This method is generally used in the selection of the person on the appropriate position.
4. Focus group discussions:
It involves interaction cum survey method to collect the data.
- It involves several people together and they share their thoughts and viewpoints together.
- The ideas can be shared with each other.
- Finding people for participation becomes difficult.
- The voice of other can suppress if there are loud members in the group.
This method is widely used in universities by lecturers.
Potential benefits of utilizing wider sources are that they possess a greater range of possibilities for data analysis and conceptual evaluative techniques should be used, to add validity and robustness to processes at the time of collection and also at the time of applying different methods.
4.2 Answer: 1. Setting objectives: The investigation of the data settles on the leader to design some arrangement of goals that must be accomplished. It assists the high-level administration with settling on the essential choices.
2. Evaluate the goals achieved: it assists the association with survey they have accomplished the objectives of the association or not. It suggests to use of assets, expatiation, care and cautious examination.
3. Revision and implementation of new goals or new improvements: Assuming there is any deviation in the accomplishment of objectives then it becomes vital that you should search for those elements which can be the givers towards their disappointment. The variables for spillages ought to be changed and should then be carried out productively and see the outcome.
The below factors are included in the assessment of such points:
1. Decisions involved
2. Problems solution.
3. Covering solutions
5. Learning new things.
It is critical to have a thorough cycle to investigate the effect of data on essential choices as it is utilized as a reason for the judgment on the ramifications of doable options for the choice to be made in a particularly levelheaded interaction and furthermore for the accompanying reasons:
1. It serves as the base for future planning.
2. It can shape the way of working.
3. It can impact the working of the organization.
4. It covers the interest of key stakeholders.
1. Surveys and Forms
Surveys are a solid technique for social event data from your potential outcomes and customers. They can be both closed gotten done or open-got done, dependent upon the prerequisites of the particular review.
Focus Group are a famous technique for gathering information also. Like the meeting information assortment technique, center gatherings aren't led in a one-on-one setting, yet rather through a gathering conversation
3. Google Form
Google Forms is incredible for fast and straightforward overviews and offers simple investigation. Results are naturally traded into an accounting page for usability.
4 Document and records
Now and again you can have a great deal of data without asking anyone anything. Document and records-based assessment utilizes existing data. Records of investment, meeting minutes (MOM), and financial records are of this kind of assessment.
We had as of now examines about inside and outer wellsprings of data catch and the advantages of utilizing these are:
Simple to gather
Helps in taking exact choices
In the wake of breaking down the four techniques for information assortment and considering the inner and outside wellsprings of data coming up next are the possible advantages of using the data as a major extension in the association:
1. Criteria appraisal:
It incorporates recognizing techniques for assessing the executive’s data. This strategy is helps in using various techniques for guaranteeing dependable and nature of data the board framework.
2. Data administration: it guarantees the ease of use, accessibility and security of the information. It incorporates the execution of the right methods to be followed.
3. To use the information which is time confined and reliable:
4. It ensures usage of information on constant basis: it implies on the consistent usage of the information and also ensures the smooth flow of the business.
5. Timeliness: it is basically confined to the time limit and validity of the data is also checked.
6. Content: the information system provides the various essential contents to look for the different kind of information.
7. Format: there is a particular defined format for retrieving and storing the information under MIS of the organization.
8. Cost: an effective MIS system reduces the cost of maintain data and thus add into its overall value.
Conclusion & Recommendations
So, from above it is observed that the importance of valid information system is for controlling the records, to deduct the operational cost being incurred, to improve the productivity, to adapt new information technology, to reduce the legitimate risks being involved, to ensure regular compliance to information and many more. SWOT analysis tool serves an organization with various strategically analysis. It depends on the conversations and individuals’ perspectives and helps in real life plan arrangement. The company uses it for rewarding their people, improving themselves, utilization of their resources to fullest and be ready to face any unforeseen problem. There are different methods of data collection which includes interview, focus groups, observation, questionnaires and many more. There are different sources through which the data can be analysed. The company must focus on different analysing techniques through which they can improve the performance of the company.
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