Brief Outline Of The Problem

Brief Outline Of The Problem 1. Introduction: 1.1 Background: In today’s world of business, information is considered as wealth. The more an organization knows about a particular course of action, the better it is equipped to get on such a pursuit and almost certainly yield success. Information is an empowering advantage that enables an organization to optimize and maximize itself and at the same time move towards their goals and missions. It allows contact with other organizations whether in a competitive or alliance stance (Claudia Klausegger et all. 2007). Managing all the information is the critical function of any organization and needs to be efficiently managed, otherwise it will lead to â€Å"information overload†, which then will contribute to inefficiencies, rising costs, and hinders in business success (Varian, Hal R, 2000). Information is gathered around the key functions of management such as planning, organizing, staffing, controlling and communicating. Among these functions, MIS is c loser to the controlling function as it provides feedback on organizational performance and helps in monitoring. Information management provides a practical insight into the techniques used in assessing the impact of information technology in a business. It uses technology for collecting, processing and considering information with a goal of efficient management (Gordon B. Davis, 2003). Information and communication systems address the absolute need for effective use of information and communication technologies in monitoring and acquiring data, computer-based modelling, and decision support and knowledge-based systems. 1.2 Brief outline of the problem: There so many new technologies out there in so many ways that one may now feel an overload of information, hence, achieving a diminishing marginal utility status in our brains. We have now therefore a need to organize and reorganize these pieces of information constantly as to be able to keep track of which of them are valuable to us and which ones are not. 1.3 Approach and Methodology: All the above will be achieved through desk research or secondary research, the use of recommended materials and lecture notes, internet and related industries. 2 Analyses: 2.1 The glut of information: Attention is undoubtedly one of the most scarce resources around the globe in both public and private sector organizations and increasingly so. There is load of information all around us, on our hard drives, our organizations’ databases, the Internet, printed documents, commercial publications, emails, subscription-based services yet we’re frustrated when trying to locate and use it (Kevin A. Miller, 2004). Organisations are being turned inflexible due to excessive growth or mismanagement of information – this state of overloaded information is called ‘the information glut’. Constant introduction of the information and communication systems does not make the situation any better; in fact it is lay ered over existing systems thus significantly increasing the information load. Therefore, planning and co-ordination of information and communication become of supreme importance to business success (Guus Pijpers, 2010). 2.2 Dearth of attention: Attention involves understanding how to work within an overabundance â€Å"information competition†, whether interfacing with customer, co-workers, or our own priority list. Leaders of organization, for example, must manage attention on several levels. They must direct their own attention to particular project and information, they must focus the attention of their employee on the most profitable activities, and they must attend to the most important buyers, suppliers, and other stakeholders. If the organization is to achieve its goal effectively, the need of managing its information is of critical importance (Iselin, E. R. 1999). The over increasing amount of digital information should not be viewed as a simple data resource or stora ge burden. Rather, it is an asset which holds an organization together. With the right approach, information growth can stimulate growth in the business. Without it, information can be a burden that contributes inefficiencies and rising costs, hinders growth and stiles innovation (Hanka, 2000).