Information and Knowledge Management of Sky News

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Table of Contents

Task 1: Information and Knowledge Management of Sky News2

Introduction2

Role of I.T as Competitive Advantage2

Information Technology as a Strategic Advantage3

Strategic Information Needs3

Knowledge Based Systems4

Inter Organizational Relationships5

Channel Relationships5

Strategic Information System Planning5

E-Business6

C.R.M7

Conclusion8

References9

Task 1: Information and Knowledge Management of Sky News

Introduction

Sky News is a world leader in the electronic broadcasting industry. It brings an innovative approach to its operations. The target audience is exposed to timely availability of news and top stories. It boasts of having a monopoly in the U.K market. It is considered the most reliable breaking news channel in United Kingdom (Sky News, 2012).

The distinction between Sky News and other broadcasting channels is the speedy coverage of news. The success of Sky News is due to the speedy coverage of news. It provides authentic news within the shortest possible time. It is not only accessible on Television but also it is available on other portable devices as well.

Sky News lays special emphasis on strategic significance of all processes. We will look at the strategic needs of Sky News with respect to the Strategic Information. The importance of Strategic Information systems holds the key for success in today's highly demanding professional environment. Organizations should have a futuristic approach. By taking a strategic approach towards its processes, Organizations can maximize returns.

Modern Concepts like E-Business and Enterprise Resource Planning should be implemented by the Organizations today. We need to take every department on board with regard to decision making as well as information sharing. The specific Strategic Information system should be designed in which all departments are taken on board. Developing a centralized information database is necessary.

Role of I.T as Competitive Advantage

Companies have looked at different avenues for sustaining their competitive advantage. The concept of Information Technology has gained recognition in recent years. The Significance of Information Technology as a force in sustaining Competitive advantage is gaining importance day by day. Electronic channels are continuously evolving. The role of information technology (IT) in creating competitive advantage has been an important area of work over the last two decades (Datta, 2012).

Information Technology has the potential to add value. It has been observed that I.T can reduce costs significantly and thereby adds value. Earlier there used to be reliance on Traditional systems but with the advent of Technological advancements, I.T has replaced the traditional systems. Information Technology strives to make the processes transparent and less time consuming. Whereas traditional systems took much time in giving output, Information Technology gives desired outputs in a short period.

Organizations were having the problem of late access to information and there was not a centralized database. To counter this problem, Information Technology not only formed a centralized database for Information sharing but also if emphasized on efficient flow of information (Padmavathy et al, 2012).

Information Technology as a Strategic Advantage

As far as Strategic advantage is concerned, Information Technology can play a huge role in it. Once an Organization has a strategic advantage based on ...