Information Management and Strategic Management

This study examined real-time innovations in organizational management leading to the integration of information management systems and strategic management systems within organizations in both the private-sector and the public-sector. This chapter presents a summary of the study, a discussion of the study findings, and a statement of conclusions drawn from the study findings.

Information technology has been and continues to be applied in a wide range of economic activities. One of the latest and potentially most significant advances in IT in relation to organizational performance is the development of innovations in information technology that hold the potential to influence the structure of strategic management systems in organizations.

Information is critical to organizational performance in the contemporary knowledge-based economy. As a consequence, information systems have become a primary organizational resource. The management of information systems in contemporary organizations is in a period of transformation.

An effective strategy is not necessarily one that promises maximum efficiency or least total cost, but rather one that fits the needs of the organization and strives for consistency between the organization's capabilities and the competitive advantage being sought by the organization. The successful application of strategy in the contemporary global environment requires an organizati

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hared Identification of the form in which shared knowledge would be most useful The technology component of the knowledge management strategy focused on the application of information technology to organize, codify, distribute, and maintain the knowledge resources required in the new product development process. Specifically, the knowledge management strategy required the: Determination of the information technology assets required to support the knowledge management strategy Development of the funding necessary to provide the required information technology support The Virtual Mentor information management tool developed by Nortel Networks to support the integration of knowledge management and the strategic process at the company provided rapid access to relevant knowledge to individuals involved in the new product development process. This access to knowledge assets within the company minimized the problem of poorly structured ideas. The necessary knowledge support was made available on-demand through context-specific advice for each question or activity in the first three phases of the new product development process. The Virtual Mentor provided decision-making support to facilitate comparing and contrasting differen
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Approximate Word count = 3746
Approximate Pages = 15 (250 words per page)

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