A.C. 1.1 - Identify the features of data and information | UNIT 7004V1

UNIT 7004V1: Strategic information management.

LEARNING OUTCOMES
The learner will:
1. Understand the impact of management information on decision making within an organisation
2. Understand the importance of information sharing within the organisation
3. Be able to use information to inform and support strategic decision making
4. Be able to monitor and review management information

Assignment Brief: Strategic information management.

Unit 7004V1: Strategic information management.

»         INTRODUCTION

This assessment is about using management information to inform and support strategic decision making.

»         SCENARIO

Learners may use their own employment context, or that of another organisation with which they are very familiar, to base their assignment. However, in the case that they are not able to do so, please use the below scenario: -

You are a manager at a medium sized organisation. You have been asked to develop your organisation’s management information system to ensure it conforms with legislation and provides accurate and relevant data. Analysis of historical data to inform future strategic direction is part of your current role.

»         TASK 1: UNIT 7004V1

Identify data and information and identify the key features of each. When making management decisions determine the criteria to be applied when selecting data and information to support decision making. Consider the validity of sources of information.

Describe the main functions of an organisation’s Management Information System (MIS). Evaluate the impact of a management information system to an organisation in terms of efficacy.

Guideline word count: 700 - 900 words

A.C. 1.1 - Identify the features of data and information

A.C. 1.2 - Determine the criteria to be applied when selecting data and information to support decision making

A.C. 1.3 - Evaluate the impact of a management information system to an organisation

»         TASK 2: UNIT 7004V1

State the organisation’s responsibilities in sourcing, sharing and storing information to ensure legal compliance.

Identify two types of information which may have restricted access within the organisation.

Describe six types of information which an organisation can offer to employees and how this is accessed.

Identify four formats in which information can be offered and evaluate how effective these formats are within the organisational context.

Assignment Brief: Unit 7004V1: Strategic information management

Guideline word count: 700 - 900 words

A.C. 2.1 - Determine the legal responsibilities in sourcing, sharing and storing information

A.C. 2.2 - Discuss when information should be offered and access allowed

A.C. 2.3 - Evaluate the formats in which information can be offered

»         TASK 3: UNIT 7004V1

Select one form of information from an organisation and analyse it to identify any patterns and trends. Consider comparative analysis such as year on year or same month/period over a period of years. Make clear judgements from your analysis and, explain how it may assist with future planning.

Describe two sources which may assist in analysing data and information. Consider the value of internal and external sources.

Guideline word count: 500 - 700 words

Start from first learning outcome: Understand the impact of management information on decision making within an organisation

Unit 7004V1: Strategic information management.

A.C. 3.1 - Analyse information to identify patterns and trends

A.C. 3.3 - Determine the sources available to assist in analysing data and information

»         TASK 4: UNIT 7004V1

Identify three decision making tools/techniques and evaluate how effective they are in supporting strategic management decisions.

Critically review three methods of evaluating management information in relation to its accuracy. Explain the importance of correct management information when supporting the decision making process.

Guideline word count: 450 - 550 words

A.C. 3.2 - Evaluate a range of decision making tools and techniques available to support a strategic decision

A.C. 4.1 - Critically review methods of evaluating management information within an organisation

»         TASK 5: UNIT 7004V1

Evaluate four methods an organisation can use to develop data collection to inform and support strategic decision making. Consider internal and external sources of information capture and the potential benefits of utilising wider sources for the organisation.

Describe how an organisation can analyse the impact of information on strategic management decisions. Explain why it is important to have a rigorous process to analyse the impact information can have on strategic decisions.

Guideline word count: 450 - 550 words

A.C. 4.2 - Evaluate methods of developing information capture to inform and support strategic decision making

A.C. 4.3 - Discuss processes for analysing impact of information on strategic decisions made

Assignment Brief: Unit 7004V1: Strategic information management

CMI MEMBERSHIP

Support when you need it.

»         MAKE THE MOST OF YOUR MEMBERSHIP

More and more managers like you are turning to CMI for no-nonsense support that will help you make better, faster, smarter decisions. As a member of CMI, you will benefit from a comprehensive range of products and services.

Membership pays for itself many times over, not only in monetary terms but also in the incalculable effect it has in helping you develop into a better performing manager, capable of making a greater impact within your organisation.

As a learner undertaking a CMI qualification you are automatically registered as a member, giving you access to the benefits below, full details can be found online www.managers.org.uk/individuals/existing-members.

MANAGEMENTDIRECT

Our online learning portal, accessible on any device means you have access to up to the minute management and leadership resources, including, books, articles, videos and CMI’s popular checklists. Click the ‘Study Support’ button to find resources aligned to each AC set out in your assignment briefs. What’s more, ManagementDirect records your activity, so you can always save content to go back to a later date.

NETWORKING OPPORTUNITIES

Be a part of our regional member networks. Make valuable business contacts and meet with like-minded people at our frequent events around the UK from regional conferences to more bespoke themed events and talks.

CMI MENTORING

Our mentoring scheme provides practical support to managers at all levels of their career. Members can sign up as a mentor or mentee on our online system. Mentoring provides the opportunity for a learning experience for the mentor and mentee and elevates knowledge sharing to a practical level.

PUBLICATIONS

Latest news and best practice delivered direct to you. Receive Professional Manager and Management Today (depending on your membership grade). You’ll also receive weekly e-newsletters.

CAREER DEVELOPMENT CENTRE

Whether you’re on that first rung on the management ladder or are a seasoned pro looking to progress, CMI have a wealth of information and advice available to support you via our careers development centre. Tools include, self-diagnostic tests to support learning styles, personality or assertiveness, CV building and review service, job hunting advice and interview simulator.

Assignment Brief: Unit 7004V1: Strategic information management.

Start writing from the first learning outcome: Understand the impact of management information on decision making within an organisation