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Informational Technology For Entrepreneurs And Leaders

Informational Technology For Entrepreneurs And Leaders

Pick one of the options and respond to the following in a minimum of 175 words:

Option 1

Please review the path from data to information to business intelligence to knowledge

The use of today’s advanced information technology resources and systems in conducting business internal and external environmental scanning, generally produces large amounts of data. What are pitfalls the analyst must be aware when screening that data to determine its usefulness? What is, in your view, the most vulnerable stage to watch for “error” within the defined path above? In the presence of current business intelligence trends, what is the importance of continuously validating the information management process?

Option 2

Ethics and social responsibility go hand on hand; therefore, this is a multidimensional discussion. If morality is included then religion must be also included, and when we follow that path, the alternatives are endless. For our purpose, as strategist in information technology, we must be pragmatic and see these issues with a wider lens. Social Responsibility, hence, ethics, in general terms could be defined as “Acting with concern and sensitivity, aware of the impact of your actions on others, particularly the disadvantaged” (Entrepreneur) Many organizations struggle with how to be ethical and socially responsible. Some of those concerns are both financial and strategic. Many organizations in this country and abroad take their staff through training on how to be socially responsible and for that matter, within the context of standard ethics. But the operator, also needs to ensure that the decisions made would not harm or impact the overall mission and goals of the business. Reconciling this overarching endeavor and the impact on others is a fine line to walk.

After reading this, discuss your thoughts about ethics and information technology, in the context of business performance.

Expertise managing (KM) is a crucial tool to the expansion and competitiveness for any organization. Jelenic (2011) mentioned that KM is a vital resource for organizations of any size facing competition in any type of market. The amount of available data and the variety of their sources make it challenging to manage and use the resulting information for the benefit of the organization. Some companies utilize KM systems to manage complex knowledge. KM systems help organizations to identify patterns in data in order to create information and improve internal processes – such as the ones in financial, marketing, operations, and design managements – as well as those processes external to the organization. Nonaka (2007) presented in detail the significance of becoming a ‘knowledge-creating’ company. Figure 1 illustrates the way in which knowledge transformations generate the foundation of business intelligence (BI). Nonaka (2007) strongly argued that knowledge creation is the key to continuous innovation and that knowledge can transform from tacit to tacit, explicit to explicit, tacit to explicit, and explicit to tacit. Figure 1 also shows that the transformation of knowledge from tacit to tacit and tacit to explicit constitutes the foundation of BI.

A expertise domain name entails expertise from various components of the external and internal conditions. Shaikh et al. (2018) provide a list of elements within each category. They list competitors, information and communication technology (ICT), social networks, suppliers, distributors, government policies, and sustainability issues as the most prominent. The key elements of the internal environment are employees, resources, designers, and planners, among others. Competitors are at the top of the list of external elements, indicating their significance. The knowledge surrounding this element is of paramount importance if the organization were to survive in the current business environment. The investment made in acquiring knowledge from competitors is part of an organization’s BI. BI is therefore an inherent element of KM and experts utilize various tools to find valuable information to formulate internal and external business strategies.

Nielsen (2006) proven eight pastimes as aspects of KM: knowing design and style, expenditure, documenting, putting together, speaking about, incorporation, benefiting, and exploitation. He then categorized these activities into three dynamic capabilities such as knowledge development, knowledge (re)combination, and knowledge use. He argued that it is imperative to study BI in detail as well as the link between KM and BI. Figure 2 depicts the interactions between the two concepts.

While BI is fairly a recently readily available terminology, the initial operate accentuating the value of gathering info for fiscal good reasons extends back towards the Initial Entire world Warfare. Other historical facts also point out that information collection was already carried out in the wharves of ports on newly arrived sailors. ‘Under the reign of Louis XIV, the official envoys of the kingdoms of France, England and Spain already called upon the systematic collection of economic, political, social and strategic information to inform their monarch, not only about the state forces of the enemy but also on the state of its economy’ (Harbulot and Baumard, 1997: 4). It was in 1915 that the German engineer Siegfried Herzog wrote the book The Future of German Industrial Exports in order to anticipate the country’s economic policy after the end of the war by creating a ‘commercio-industrial federation’ for collecting information and using it to preserve the competitive advantage of the German industry (Herzog, 1918: 132). In the mid-19th century, Japan began to collect and process information at the national level, highlighting the importance of information and considering it a ‘collective resource to be fully exploited’ (Jakobiak, 2001: 68). In 1979, Michael Porter emphasized the effect of information technology on competitive advantage. In the book Competitive Strategy: Techniques for Analyzing Industries and Companies, he speaks explicitly of the term ‘competitor intelligence system’ (Porter, 1980: 72). Thus, BI began to emerge in the economic world and made its official appearance in France in February 1994, following the recommendations in a report by the group ‘BI and Business Strategy’, chaired by Henri Martre (Martre, 1994: 3). It was only in 2006 that BI was mentioned in an official speech of the Algerian government (Fekir, 2009).

The international setting of your firm comprises quite a few industries just like the technological, institutional, government, economical, legitimate, and sociological. It is evident that competition at the national and international levels is becoming increasingly more intense, and the competitive advantage that some organizations hold is comprised of only a few small differences. In simple words, competitiveness is the ability of an organization to face its competitors. It represents its long-term performance and growth based on three criteria: price, quality, and cost (Okamba, 2005: 18). It is well acknowledged that measuring and managing business performance is a challenging process. Rajnoha et al. (2016) presented BI as a key information and knowledge tool for strategic business performance management. They argued that due to fierce competition and the unpredictable environment, the organization needs to establish a surveillance and monitoring system for information collection to detect threats and seize opportunities. Information is therefore the pivotal element in the functioning of this system.