Corporate strategy essentially focuses on achieving the highest top line (profit), reducing the bottom line (expense), increasing margins, differentiating products to match the VoC (Voice of the Customer), and incorporating best practices such as lean manufacturing and zero inventory to gain competitive advantage.
You want to demonstrate that it is indeed possible to tap vital information from a well-organized IS set-up.
List the important information and metrics that are deliverable through knowledge management/business intelligence systems for Donna and Debbie's formulation of FYC's corporate strategy for the current year. These metrics and information should be retrieved internally from the various departments and externally from the company's suppliers, customers, and wholesalers.
Your task can be in the form of a Word document report with not more than 4 paragraphs, a diagrammatic representation (flowchart, process diagram, fish diagram, DFDs), or a simple list of bullet points categorized into subtopics.
Knowledge management refers to practices used by companies to create, store and distribute information for reuse by the organization for its improved functioning, awareness of problems and learning to cope with the environment. In several companies this is a part of information technology or human resources management department. In case of FYC there is great scope for the use of knowledge management. Important information can be collected from the point-of-sales at its stores. This information can be used to improve customer service, reduce inventory costs and streamline the supply chain. Similar information can be garnered from every process at FYC and the results analyzed to give insight into FYC's business process.
By using knowledge management FYC can be transformed into a learning organization. FYC employees need to be trained into knowledge workers and learn to use intellectual capital. FYC will need to use enabling technologies like expert systems, extranet, content management and document management. If FYC wants to implement knowledge management properly it must appoint a Chief Knowledge Officer who will provide leadership in this area. Even though there are three approaches to knowledge management, namely techno-centric, ecological and organizational, it is recommended that FYC use the organizational approach to knowledge management.
Business intelligence system refers to functions and information methods that are used to collect access and utilize information about company functioning. In case of FYC if companies if the company can have a detailed knowledge of its functions then ...
This solution talks about information and metrics deliverable through knowledge management/business intelligence system. These issues are discussed in the context of For Your Comfort (FYC).