How can Organization Utilize Data and Information to Gain Competitive Advantage?

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Introduction3

The Research Problem3

Purpose of the Study4

The Objectives of the Study5

Research question(s)5

Literature Review6

Proposed Methodology15

Research Design15

Data Collection Techniques16

Issues of Reliability and Validity16

Sampling techniques16

Definitions of key terms, concepts and variables17

Data analysis and interpretation18

Ethical Considerations18

Confidentiality18

Informed consent18

Provision of debriefing, counseling and additional information19

Pretest or pilot study19

My Personal Work Plan19

Introduction

The Research Problem

In any business or industry, competitive advantage is accomplished when a specific company performs more efficiently and effectively compared to the others in the same industry. The competitive advantage does not require being all-inclusive of the entire industry and might just encompass small sections. Either the company implements a cost-price differentiation, a low cost strategy, or any other function; there is always an information system that supports these functions. It is imperative for an organization to have a well planned as well as well employed information system in today's business world. Well planned and well employed information system is a major tool for the acquisition of a competitive advantage. Developing and planning for an effective information system are the two steps towards the acquisition of strategic success for any organization.

In the current world of business, influential information based technologies based on the internet are in hand and even the smaller organizations are able to afford them. They are transforming the internal business procedures of the companies that are leading in the market. The organizations may no more afford to depend on a word of mouth for ineffectively and inefficiently communicating its business data and information to all those requiring it. What was once adequately good is now a latent death sentence in a progressively fast paced and cost conscious business setting(Becerra, Gonzalez & Sabherwal, 2004). This is the business information issue an organization is probable of facing in today's world. This study explores the way business problems of today may turn out to be the competitive advantage of tomorrow. Technology may impart a strong competitive advantage to all sorts of organizations which make the most of their IT investments.

The development of business data and information, being a significant tool of a business, may and should, be analyzed from the technological as well as business perspective. From the business perspective, more comprehensive, faster, and more accurate transfer of data and information to the authorized recipients within an organization merely provides better competitive advantage to that organization. The internal business procedures consume lesser amount of effort and time. The business procedures facing the customers are better informed and create increased customer satisfaction. The interactions with the suppliers are more effective and interactive. From the technological standpoint, the world has passed through the eras of the departmental mini computers, the centralized mainframes, and the expensive yet powerful free for all transformation of the client server and personal computer architectures (Awad & Ghaziri, 2004).

Purpose of the Study

The study mainly seeks to focus on the competitive advantage gained by the organizations using data and information, which would not only highlight the importance and significance of data and information but at the ...