INFORMATION MANAGEMENT

Information Management Challenges

Information Management Challenges

Introduction

The term Information Management (IM) denotes the explicit strategies, tools, and practices applied by management that seek to make knowledge a resource for the organization. The field of KM is concerned with the development of concepts that illuminate or enhance the application of these practices. It is a hot topic in many business communities. Although, the title Information Management might suggest a rather simple definition, there are plenty of opinions as to what it is and how it should be used, if used at all. However, because of the ever increasing pace of business development, the task of effective and competitive management of organizations becomes essential and KM, if understood and implemented properly, may be a useful tool for business transformation as well as the key to competitive advantage. The paper discuss the information management challenges and the key risks concerned with the delivery of an online system for the submission of personal tax returns for a large European country. The expectation of the company is that their system will collect and process returns for 50% of the population within the first three years of operation and that this will represent taxes worth ~€93bn (£65bn, $132bn). Besides this, the paper also discusses the role that the information technologies and systems may have in addressing these challenges (Binney, 2008, pp: 34).

Discussion and Analysis

It is a recent realization that knowledge is the most valuable asset an organization possesses. Information management began as an outgrowth of database technology and was an attempt to assemble and control organizational information. It is difficult for those inside an organization to share their information with others if they believe that some person or group has control of the information. All organizations are political, and employees quickly realize that giving up information into a controlled, political system might not be to their advantage. The tendency of the individual is to hold onto information possessed. As organizations began to realize that knowledge is a strategic asset, managing it became more important than just arranging more data (Binney, 2008, pp: 37).

Actually, IM is a cultural change and growth process. First, information must be shared. Sharing information must be based in trust and in face-to-face interaction. To share information, tacit information — information internal to individuals—must be converted to explicit information and codified. Second, because information arrives in many modes, the users must be multi-literate. It is not sufficient to be 'information literate'; today's users must be able to employ many literacies: media literacy, visual literacy, numerical literacy, text literacy, social literacy. Third, IM is a disciplined approach to using information —not a specific technology or product. Any IM that creates value must link know information ledge to an organization's strategic goals, to the work processes, and to the cultural, physical, and virtual environments of the organization. Fourth, for an organization to successfully implement IM, the management must be aware of and be the driving force behind the cultural changes that will take place ...