¶ … Governance
Information management is similar to information technology and this term is usually used as a synonym of information technology. In this modern era, information technology is an essential part of almost every organization due to vast competition and globalization. On one hand information, technology provides a number of benefits to the organizations but, on the other hand, it has been commonly observed that a sudden failure in information technology results in heavy losses. In order to avoid these losses, certain steps can be taken by the organizations. These steps vary with the nature of information and different organizations take different measures to avoid this failure (Weill & Ross, 2005).
Some of the imperative and useful steps taken to avoid the failure in information technology are described below:
Hiring a technical expert
A common person cannot easily understand how to check the information technology. Since every field requires experts, it is the case with information technology. A technical expert is the only one who can keep a check and balance on the information technology of an organization. Therefore, organizations can hire the technical expert personnel for this reason and assign him the duties of regular check and balance on the information technology. However, it may increase the cost of an organization, but this cost is less than the cost of failure in information management.
Purchasing the best quality hardware and software
This is another positive step that can reduce or probability of failure in information management. Low quality hardware has less life as compared with the high quality hardware. Besides this, low quality software may have certain viruses that can cause the failure. In addition to this, it is also imperative that organizations standardize the software applications and hardware constituents in the entire organizations. Not only is this, but old equipment, after the completion of their life...
Furuholt, (2006) argues that lack of management engagement to the acceptance of information systems has been a barrier to the implementation of information systems. The issues are even common with organizations in the developing countries where management does not give enough priority to the information systems implementation. Importantly, implementation of information systems requires management support since management will need to approve fund that would be used for IS implementation.
Management accounting is an important factor that helps organizations to map their future directions through providing managers with necessary information for the establishment of strategies that ensures all inputs, processes, and outputs are in line with the organizational goals. Through the information provided by management accounting, managers access information that is critical in formulating policy, making comparison between alternative situations, and evaluate and examine performance. While management accounting has similar
Management Philosophies Samsung Group Samsung group is South Korean company headquartered in Seoul Samsung town. Samsung group comprises of many subsidiary groups that are under the Samsung group. Founded in 1938 by LeeByung-chull as a trading company, Samsung group has grown to diversify into insurance, textile industry, retail and security industries. Samsung entered the electronics industry in the 1960s. It has grown to be the leading manufacturer of cell phones in the
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