Tutorial notes Level 7 in
Strategic Management and Leadership
These notes are designed to help you through your assignment. They will do this by: •Task Review - providing some helpful pointers for the tasks •Checklist – last minute checklist before submitting your assignment •Additional reading information – this section may contain articles, or website references which will extend your knowledge on the subject areas.
Your tutor will be happy to help you by answering any questions you may have about particular topic areas, and you can send questions by email or request a telephone tutorial.
Your tutor will also be happy to review one draft of your assignment prior to submission to check that you are on track and identify any areas for improvement or development before you make your final submission. To take maximum advantage of this facility your draft should contain all of the tasks for the assignment.
Research and evaluation
Remember that at level 7, learners would be expected to undertake some research, the results of which they could demonstrate in their assignment. In this way, assignments will have a good balance of description/evaluation of theory as well as practice.
What does this mean exactly? As a minimum this means “name dropping” relevant theories and theorists, and having a bibliography.
For example “as recommended by ABC Guru (2012) personal development should be linked to achievement of corporate objectives. With this in mind I have……
Some assignments will require more than this and will require critical evaluation of specific models, theories and techniques, and/ or how they are/can be used in your organisation. Always seek to evaluate organisational performance/practice where possible and relevant to the assignment.
As well as concepts mentioned in the learning materials you should review resources available from the CMI through Management Direct.
Assignments without a bibliography or referencing will be referred.
Remember that an 'MIS' is a planned system of the collecting, processing, storing and disseminating data in the form of information needed to carry out the functions of management. It consists of people, equipment, and procedures to gather, sort, analyse, evaluate, and distribute needed, timely, and accurate information to marketing decision makers."
The terms MIS and information system are often confused. Information systems can include systems that are not intended for decision-making. The area of study called MIS is sometimes referred to, in a very restrictive sense, as information technology management. That area of study should not be confused with the broader meaning for the purpose of this unit. MIS components do not all have to be computer systems although they do play a significant role to speed the collection, processing and distribution of information. Many “dashboard” type IT systems also exist to enable performance information to be managed and shared strategically.
It is important to remember that this task covers two separate learning outcomes. Learning outcome one deals with the general impact of management information, and learning outcome two is about information sharing. Both topics must therefore be covered by your answer, which should be guided by the points a to g in the task.
In terms of general impact of management information, clearly points need to be made about how management information systems support organisations and their ability to create strategy, make decisions, and monitor their progress and so on. It is also important that you can explain and demonstrate that you understand the difference between data and information, and that as a manager you can apply a variety of criteria to ensure that the data and information you select is appropriate. (Review the grid on page 13)
In terms of sharing information, there are a number of key points that need to be made,...
ManagementInformation Systems (MIS)
Information systems at the management level of an organization that serve the functions of planning, decision-making and controlling by providing routine summary and exception reports.
A combination of computers and people that is used to provide information to aid in making decisions and managing a firm.
Roles of MIS
Support To Strategic Advantage
Support To Managerial Decision-Making
Support To Business Operations
Features of MIS
MIS is a very important information processing system for all organizations. Some crucial characteristics of MIS are stated bellow:
MIS support structured and semi-structured decisions at operational and management control level.
MIS are very useful for planning purposes of senior management staffs.
MIS are generally reporting and control oriented.
MIS have little analytical capability.
MIS generally aid in decision-making using past and present data.
MIS are relatively inflexible.
MIS have an internal rather than external orientation.
Importance of MIS in Business
MIS Affects All Areas of Business:
Accounting & Finance
Human Resources Management
Systems from Functional Perspective
Information systems can be classified by...
Information Systems in Global Business Today
( OPENING CASE: SMART SYSTEMS AND SMART WAYS OF WORKING HELP TOYOTA BECOME NUMBER ONE
Toyota has flourished in a highly competitive environment because it has created a set of finely-tuned business processes and information systems that simultaneously promote agility, efficiency, and quality. It can respond instantly to customers and changes in the marketplace as events unfold, while working closely with suppliers and retailers. The experience of Toyota and other companies described in this text will help you learn how to make your own business more competitive, efficient, and profitable.
As part of its ongoing effort to monitor quality, efficiency and costs, Toyota management saw there was an opportunity to use information systems to improve business performance. Technology alone would not have provided a solution. Toyota had to carefully revise its business processes to support a build-to-order production model that based vehicle production on actual customer orders rather than “best guesses” of customer demand. Once that was accomplished, Oracle e-business software was useful for coordinating the flow of information among disparate internal production, ordering, and invoicing systems within the company and with systems of retailers and suppliers.
By helping Toyota build only the cars customers have ordered, its vehicle order...
...are also those who gather crucial information and act on them quickly. Making informed business decisions enables businesses to accomplish their business growth and enables them to utilize the information to their competitive advantage. An adequate infrastructure that provides information across the business is needed to execute this vision.
Information technology is needed to facilitate the creation of integratedmanagementinformation. It is crucial in improving coordination and access to information across all business units and allows more effective management of task interdependence. Enterprise resource planning is business management software. It usually consists of integrated applications. This is used to collect, manage, store and interpret data from all business activities that includes: cost, manufacturing, product planning, service delivery, Marketing and sales, inventory management and even shipping and payment.
EPR provides an integrated view of the business core processes and often in real time. This is done by usage of common databases maintained by a database management system. ERP also tracks the business resources (raw materials, cash, and production capacity) and also the status of business commitments (purchase orders, supply orders and payroll) the applications that make up the system shares data...
...company produces, delivers, and sells a product or service to create wealth.
Answer: True False
4) Information technology (IT) consists of all the hardware that a firm needs to use in order to achieve its business objectives, whereas information systems consist of all the software and business processes needed.
Answer: True False
5) Computers are only part of an information system.
Answer: True False
6) The dimensions of information systems are management, organizations, and information technology.
Answer: True False
7) In order to understand how a specific business firm uses information systems, you need to know something about the hierarchy and culture of the company.
Answer: True False
8) Business processes are logically related tasks for accomplishing tasks that have been formally encoded by an organization.
Answer: True False
9) A substantial part of management responsibility is creative work driven by new knowledge and information.
Answer: True False
10) Intranets allow firms to work easily with third-party suppliers and vendors.
Answer: True False
11) An IT infrastructure provides the platform on which the firm can build its information systems.
Answer: True False
12) The six...
...In 2008, ICT (Information and communication technologies) sector of the Canadian economy totaled $59.2 billion
Cellphones, delivery service, social medias, internet advertising are growing and growing
Three changes 1) emerging mobile digital platform (iphone, bb, netbooks ) 2) growth of online software as a service and 3) the growth in “cloud computing” where more and more business software runs over the Internet
→ organizations can rely more on telework, remote work and distributed decision making, think decentralization, firms can outsource more work, and rely on markets rather than employees to build value. It also means that firms can collaborate with suppliers and customers to create new products or make existing ones more efficiently.
Thomas Friedman world is now “flat”, Internet and global communications had greatly reduced the economic and cultural advantages of developed countries.
Digital firms: most of significant business relationships (with customers, suppliers, and employees) of an organization are digital.
Core business process are accomplished through digital networks spanning the entire organization or linking multiple organizations.
Key corporate assets- interellectual property, core competencies, and financial and human assets are managed through digital means.
Time shifting ( 24/7) and space shifting (globally accomplished) are the norm
There is a growing interdependence between a firms information systems and its...
Accounting Information Systems: Theoretical foundation and overview
Drivers for business & I.S change
o Force behind globalisation is technology.
o Changed the way we communicate, transport goods and services, and travel.
o Enabled organisations to interact with partners, suppliers and customers in virtual environment.
o Removal of constraints on competitive market forces through free trade agreements. E.g. Australia-China, Australia-New Zealand, Australia-USA.
o Controls over commercial and financial systems have relaxed and business competition has increased.
Advances in technology
o Metcalfe’s Law – Description of the rapid growth of the World Wide Web. Also explains the rising wave of IT that we are riding through the 21st Century
o Moore’s Law – Rate at which computer power is accelerating.
o Companies need to use information systems to be more efficient and reduce cost of transactions with customers, such as Enterprise Resource Planning (ERP) system which integrate all aspects of an organisation’s activities into one system.
Outsourcing & Downsizing
o Companies are outsourcing and downsizing programming functions and activity to cheaper labour countries, such as India.
o A set of two or more interrelated components interacting to achieve a goal. E.g. A business has multiple departments.
o Occurs when components act in their own interest...
...Strategic Planning for Small Business
In today’s highly competitive environment, budget oriented planning or forecast based planning method, large companies should ensure that they will survive and prosper. The firm must engage in Strategic Planning. Before defining what Strategic Planning is? We should distinguish first the strategy and planning.
STRATEGY may be defined as a “course of action aimed at ensuring that the organization will achieve its objectives”.
PLANNING refers to “the management function of anticipating the future and determining the best courses of action to achieve company objectives.
With these definitions, we can identify what Strategic Planning means.
STRATEGIC PLANNING refers to “the process of determining the major objectives of an organization and defining the strategies that will govern the acquisition and utilization of resources to achieve these objectives.
Procedures for Strategic Planning
Components of the StrategicManagement Process:
1. Strategic Planning which consists of:
a. Assessment of organization strengths, weaknesses, opportunities, and threats.
b. Formulation of organization mission
c. Formulation of organization philosophy and policies.
d. Determination of Strategic Objectives; and
e. Determination of Organization Strategy
2. Strategy Implementation and control which consist...
...Global e-Commerce: Market Entry & Market Management
The growth, integration, and sophistication of ICT are changing our society and economy. The emergence of the Internet as a general communication channel has opened the opportunity for e-Commerce to expand worldwide. E-Commerce is now viewed by researchers and practitioners as providing the future direction in which organizations must move. Diffusion of the Internet has led to significant shifts in the methodology of operating business globally. Therefore, it is both an interesting and challenging issue to address, explore, and conceptualize proliferation of e-Commerce and also adoption and cultural resistance and evolution for global consumers.
This analysis will use four different class reading to discuss the topic, global e-commerce. The readings are “Getting Paid For Your Sales-by Dagmar Grieder”, “Educator Insights: International Marketing Blunders Revisited-Some Lessons for Managers-by Tevfik Dalgic & Ruud Heijblom”, “Information ICTs and Small Enterprise: Findings from Botswana-by Richard Duncombe & Richard Heeks”, and “Trade Wars: The Exaggerated Impact of Trade in Economic Debate-by Richard B. Freeman”. The analysis will be discussed from four different directions, the knowledge of export sales, the blunder of getting into international business, the relationship between international business and consumers in ICTs environment, and the impact from global...