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Management of Information Systems & Business Strategy

Please help with the following discussion questions:

ONE:
In dealing with "information" systems you will encounter the terms "data", "information", "knowledge" and sometimes "wisdom."

Is there really any difference or should a business focus on the "facts" and forget all of the hocus pocus of the more fancy terms? What is important to corporate or operational success?

What do you understand by these terms? Are they related one to the other and if so what would you suggest is the interconnection? Where do people fit in? Can knowledge be managed?

Where does wisdom fit in? Can wisdom be managed?

TWO:
What level of IT information and knowledge, does an Information Systems Manager need to know, about information architecture and computer technology, in order to do the job effectively? Discuss and describe your views on the above questions.

THREE:
Are you more of a "geek" or more of a "computer illiterate/computer phobic" end-user? What skills do you need to communicate effectively with "geeks"? What skills do you need to communicate effectively with "computer illiterate/computer phobic" end-users? Explain your answer briefly.

FOUR:
Strategic management involves formulating and implementing strategies that can provide business firms (or other organizations such as the military) with a competitive advantage relative to the firms that they compete with. Briefly discuss one information systems application that you have thought about or are aware of from your work that provides (or promises to provide) a competitive advantage to your organization. Be sure to explain why you think this IS application provides a competitive advantage and what would be important elements to consider in selecting a particular system.

FIVE:
What is the relationship between the systems development process and IT project management? How do managers fit into the systems development and project management processes? Be sure to note any assumptions that you are making in your responses.

Solution Preview

ONE:
In dealing with "information" systems you will encounter the terms "data", "information", "knowledge" and sometimes "wisdom."

Is there really any difference or should a business focus on the "facts" and forget all of the hocus pocus of the more fancy terms? What is important to corporate or operational success?

What do you understand by these terms? Are they related one to the other and if so what would you suggest is the interconnection? Where do people fit in? Can knowledge be managed?

There is a difference between all of them. Knowledge Management (KM) is the "process through which organizations generate value from their intellectual and knowledge-based assets. Most often, generating value from such assets involves codifying what employees, partners and customers know, and sharing that information among employees, departments and even with other companies in an effort to devise best practices (Levinson, 2007)." To define data you need to ask "who, what, when, and where". Information is the raw form of knowledge and when it is transformed, it is valuable. Knowledge is the last phase in the form of true facts. Wisdom is knowing the difference between all of them.

References
Levinson, M. (2007). Knowledge Management Definition and Solutions. Retrieved, from the
World Wide Web: http://www.cio.com/article/print/40343
STI. (2003). Knowledge Management (3rd ed.). US: STI.

Where does wisdom fit in? Can wisdom be managed?

Wisdom is knowing the difference between all of them and being able to apply the wisdom in the use of all knowledge. Wisdom can be managed only in as much as the data is accurate, the information proves to be ...

Solution Summary

The solution discusses management of information systems and business strategy.

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