1. WEEK 2 INFORMATION AS AN ORGANIZATIONAL RESOURCE

2. – A resource is a supply of something that an organization has which it can use to increase its wealth, production or output. – Organizational resources could be classified as either tangible or intangible. WHAT IS A RESOURCE?

3. – Information is an intangible resource that is common to all organizations in the world – Information is an important resource which needs to be managed as all other resources of the organization. INFORMATION AS A RESOURCE

4. INFORMATION MANAGEMENT – Information management is the application of systematic and scientific techniques or processes to the control of the total life of information. – Information management can also be defined as, “the process of planning, managing and controlling the creation, flow and distribution of information within an organization”. (Saville & Sowerbutts, 1990).

5. OBJECTIVES OF INFORMATION MANAGEMENT – To furnish accurate, timely and complete information for efficient decision making and task performance. – To process information as efficiently as possible. – To process information at the lowest cost possible. – To ensure and protect the integrity or authenticity of information.

6. ̶ To dispose of information as soon as that information becomes redundant or inactive. Objectives of Information Management continued…

7. VALUE AND COST OF INFORMATION – Information has a cost though it is quite difficult to determine. – The cost of information to most organizations is enormous. – Cost is incurred in relation to the creation, processing, storage, distribution and use of that information.

8. There are several areas where organizations incur cost. – Overhead cost – Supplies for Information Processing. – Equipment – Maintenance – Telecommunication. – Training and Emolument

9. Areas of Excessive Cost – Duplication in information acquisition and storage. – Irrelevant information (if more information than what one needs is supplied, the cost of information use is pushed up). – Unreliable information in your system could also push up cost in your organization. – Unnecessary or inadequate information dissemination.

10. – Is the information being created or received needed at all? – Is information being processed in the best way? – Is information being processed at the least cost? – Can existing methods be streamlined to save cost and improve operations? HOW TO REDUCE COST

11. ─Are there duplications in the system? ─Should the organization take advantage of modern technology to manage the system? Can the organization upgrade (automate) the system to achieve the purposes it has been created for? How to Reduce Cost continued…