Information Management Flashcards
Where does Value reside
Control, monitoring
Forecasting, predicting
Understanding, innovating
Decision making
What does information technology translate
It translates Activities, objects and events into data.. and metadata (data about data) transactions and the tracking of transactions
Is data collection still how it used to be ? How was it before? Now?
Data collection is no longer the separate and costly process that it used to be. Now it’s an automatic process that is embedded in and tied into almost any move,ent, interaction, we engage in …L eg contracting, online and credit card payments, physical movements, communication etc
How can data be a risk for and say an example for it
Data can be a risk to individuals, organisations and society
Risks: Privacy, security, law and regulations
Example: October 2022 Shein parent company fined 1.9m over data breach. Data of people’s accounts leaked and lying about it to people
What is the definition of ‘data’ ‘information’ ‘’knowledge’ and ‘wisdom’ in management
Data are symbols that represent the porpertjes of objects and events
Information is processed data. Knowledge is the application of data and information and wisdom is evaluated understanding ; ‘ wisdom deals with values. It involves the excessive of judgement’
Explain The DIKW pyramid
Bottom to top:
Data
Information
Knowledge
Wisdom
What can data be (examples)
Text and numbers
Images
Audio
Structured (coded maybe)
Unstructured
- example: in 2012 the Olympic sailing events in Weymouth had the Dorset police working with crowd vision overlooking the crowded scene of interest , connected to computer with screen. The CrownVision measurement analytics software entangled accurate people count and analysed the crowds in real time.
The way the heads were moving provided info on pedestrian flows
Explain information
Information in management is processed data
Th meaning and significant we extract from data. This will greatly depend on how it is processed, when, by whom and why
Explain what knowledge is
Knowledge is familiarity, awareness or understanding of someone or something, such as facts (propositional knowledge), skills (procedural knowledge) or objects (acquaintance knowledge)
Knowledge is an asset for organisations to be valued and nurtured
There is tacit and explicit types of knowledge
Explain the SECI model of knowledge (process of knowledge generation on organisations)
Four modes of knowledge conversion:
Socialisation (tacit to tacit).. top left
Externalisation (tacit to explicit) … top right
Combination (explicit to explicit) …. Bottom right
Internalisation (explicit to tacit) …. Bottom left
What is socialisation
Socialisation is a process of sharing knowledge (including observation, imitation and practise through apprenticeship with other. It’s about capturing knowledge by physical proximity , wherein direct interaction is a support method to acquire knowledge. It comes from sharing the experience with others. Can also just be direct interactions with customers or from inside the your own organisation interacting with another section or working group. E.g. brainstorming with colleagues. Tacit knowledge is transferred by common activity in the organisations such as being in the same environment
What is externalisation
Externalisation (tacit to explicit) is the process of making tacit knowledge explicit. Where knowledge is crystallised so is able to be shared by others, becoming the basis of new knowledge. Knowledge becomes understandable to others as well. concepts, images, written documents etc.
What is combination
Combination (explicit to explicit) involves organising and integrating knowledge. Different types of explicit knowledge are merged (e.g. in building prototypes) . The creative use of computerised communication networks and large scale databases can support this mode of knowledge conversion.
Explicit knowledge collected from inside or outside the organisation then combines, edited, processed to form new knowledge. Can then me given to other people in the organisation
What is internalisation
Internalisation (explicit to tacit) involves the receiving and application of knowledge by an individual, enclosed by learning-by-doing. On the other hand, explicit knowledge becomes part of an individual’s knowledge and will be an asset to the company.
It can also be the process of continuous individual and collective reflection, as well as the ability to see connection and recognise patterns, and the capacity to make sense between fields ideas and concepts
Examples of strategies to support sharing of tacit knowledge and examples of strategies to support explicit knowledge.
Tacit:
formal; organisation of events e.g. conferences
Informal; Office space e.g. office kitchen, open plans.
Explicit: organising, adding to it, integrating it, and sharing it.
