(Abstract) 100 Great Business philosophy: Concept 6: information-oriented

Concept 6 Information Orientation

Considering that billions of dollars are invested every year in the IT software and hardware industries, we may expect managers to know exactly how the information industry improves their productivity. More specifically, what is the relationship between billions of dollars invested in the IT industry every year, product improvements, and employee performance? The answer lies in three aspects of information orientation that are linked with the IT business results.

Concept

Professor Donald Marchand and William J. ketinger. kettinger) conducted a study at the Lausanne Institute of Management (IMD) business school in Switzerland, which identified three key competency factors driving successful utilization of information. These three capabilities include 15 specific capabilities.

These three "information processing capabilities" jointly determine the effectiveness of information use in decision-making processes:

1. Information behaviors and values ). This is the company's ability to instill and promote behavior and values in order to effectively use information. Managers need to advocate the spirit of sincerity, courtesy, self-denial, transparency and selflessness. At the same time, they need to clear obstacles to information flow and improve information utilization.

2. Information management practices ). Information management includes information judgment, collection, organization, processing, and storage. Managers establish a set of procedures to train their employees and supervise information so that the company can focus on the correct information. They exercise caution to avoid (or minimize) information overload, improve the quality of information acquired by employees, and enhance the validity of decision-making.

3. Information technology practices ). The application and infrastructure of information technology should support the decision-making process. As a result, business strategies need to be combined with information technology strategies so that the application of infrastructure and information technology contributes to business operations, business processes, business innovation, and business decision-making.

Several companies have successfully implemented large information technology projects, including BBVA and skandiabanken, the first non-branch bank in Sweden ).

Bilbao biesopen bank jumped from a sub-behavior-based less successful small business banking enterprise within 1,000 days to become one of the most successful banks in Spain. The Bank was able to achieve this success because it was able to successfully implement cross-marketing by obtaining the correct information from its staff.

Icon: information-oriented Maturity Model (Source: Professor Donald Marchand)

The sub-Bank created an online banking model with a high profit margin and surpassed its long-standing competitors in terms of customer service and purchasing power. Although it's just a network and telephone bank, coanya's managers attributed their success to their business operation model (which integrates simple information technology infrastructure and smart network marketing systems) convenient access to information between employers and employees, corporate culture with emphasis on transparency, personal responsibility, and their actions.

Practical application highlights

§ Realize that management information depends on Common People: how they use the obtained information and methods, how they share knowledge with others, and how they are using information, how can we be motivated to realize value innovation.

Evaluate, study, and improve the information and knowledge management process. Remember, although technology is essential for success, it is not a panacea for the company.

§ Learn more about information orientation from Professor Donald mayande or IMD Business School. You can also read this details on the Internet (www.enterpriseiq.com) or his book making the invisible visible.

(Abstract) 100 Great Business philosophy: Concept 6: information-oriented