Information resource management is a broad term in information technology that refers to the management of information, data sets or records as a resource. It can be used to attain either government or business objectives or goals. It is all about the identification of data as an asset, classifying it, and offering various kinds of active management. According to experts, information resource management is the process whereby the life cycle of information sets is managed, right from the time they are created until they are utilized in IT architectures. It also involves storage of information and subsequent deletion of non-permanent data. The term can refer to physical material and supplies, software resources or manpower used to manage data at any stage of use.
Information resources can be divided into three classes: business, system, and data resources. When looking at its intent, the resource management concept is not much different from MRP (materials resource planning) as applied to manufacturing. Both are all about the cost effective and efficient utilization of resources. Their main objectives include sorting out and control of the various resources. They are sorted out so as to confirm their uniqueness in a way that does not bring about redundancy while at the same time promoting sharing. Control is needed when it comes to collecting, performing inventory, and retrieving resources as required by the organization.
While MRP deals with management of products and the components required to produce them, IRM is all about managing information as well as the resources needed to produce it. Among the most crucial by-products of cross-referencing and cataloguing information resources is the business model that includes how it is organized and its mode of operation. Other advantages include the fact that all the information resources can be controlled, making it possible for integrated systems to be designed and carry out an impact analysis of any proposed resource alteration. There is also a simpler way of searching for information for reuse, meaning that redundancy of resource definition is done away with. Another benefit is that there is updated and complete documentation of all data resources, in a meaningful and organized manner. Communication within the business is made even better since users and developers utilize standard and well-known definitions for information resources. All these terms would be found in standard business terminology.
The effect of information technology on the strategies adopted by businesses nowadays cannot be ignored due to the crucial role it plays in competition. Given that competitiveness is growing stronger in most industries as time goes by, new competitors are mushrooming. In addition, the environment is changing as well as expectations of customers and clients. Thus, managers should not allow themselves to remain indifferent in these situations. Nowadays, information is no longer perceived as a source of competitive advantage but rather a competitive necessity. It makes its way through all aspects of a business organization, crossing through the information systems and data processing department. It is possible to realize the information potential through having knowledge of the cultural and organizational aspects together with the appropriate management. No automatic profits have been attained from investing in IT as the management is responsible for exploiting the IT potential.
Over the last two decades or so, business organizations have figured out how to manage material, human, and financial resources. Changes in how these resources are managed depend on the manner in which information is accessed and processed. It is not possible to present an information resource management receipt. Also, it is not desirable as the approach is supposed to be flexible and structured, and under the managers control. The business organizations management should be well aware of the profits being made by the respective information and information technology. The organization should figure out a number of things. For one, it needs to find out the information required so that the company can achieve the set strategic aims. The management needs to know the products or skills that will give it an edge over competitors. The current strategy to overcome competition needs to be known as well as the information required from it. Successful business organizations are those that learn and adapt while possessing a flat simple structure. Also, information should be a crucial part of their activities- a top reason as to why managers need to undergo training on how to effectively utilize it. IRM outlines the manner in which the company will go about its businesses while utilizing different information resources so as to achieve its short-term strategies. Such kind of management is unique even for business organizations offering identical products or services. IRM is inclusive of the management of all forms of data, texts, sounds, numbers, and images available to make the ideal strategy at any given time. This explains why managers have a responsibility of providing the right information to do with decision making and business in general.
Information has an effect on all aspects of a business, including production, distribution, marketing, and operations management. Communication and information technologies present a continuous flow of information that the organization can use to come up with a corporate strategy and achieve its management activities with respect to decision making. A flexible style of management is quite important to organizations. This is why a large amount of information and its optimal utilization is required, particularly by policy makers during decision making. The greater the quantity of information that is utilized, the better for the business organization. The more effective the tool for utilizing this information, the more desirable the decision turns out to be. Consequently, a good decision means there will be less risks for the organization. It is due to this reason that information is considered a crucial resource that, if managed the right way, increases the business organizations chances of succeeding. Thus, short-run strategies are required because of this, meaning that long-run plans are no longer required. Bearing this in mind, the planning of information resources is of immense value and is expected to satisfy the business needs.
Most of the measures taken by business organizations are meant to increase production, boost the amount of sales, or raise challenges. It is possible to achieve all these with the help of information. The effect that it has varies depending on the business and industry. For instance, it is managers who decide what information technologies are needed and how they will use it. Should they wish to put their organization on the marketing axis, information plays a crucial role in increasing the amount of sales, in comparing competitors products, shaping the product mix, and figuring out customers tastes.
References
Abdelhak, M., Grostick, S., & Hanken, M. A. (2014). Health Information-E-Book: Management of a Strategic Resource. Elsevier Health Sciences.
Peppard, J., & Ward, J. (2016). The strategic management of information systems: Building a digital strategy. John Wiley & Sons.
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
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