"In today's fast-moving, e-commerce economy information is power. For years companies have been investing in IT, expecting to develop their ability to exploit the power of information and achieve better business performance. Frequently, a company's investment has been a cost with no clear payback - a competitive necessity rather than a strategic advantage."
A Manager's Guide to Creating Business Value with Information Content
In the e-business economy, managers struggle with excessive data and insufficient meaningful insights regarding markets, customers, products, and finances. The primary challenge is to identify, manage, and utilize the right information for competitive advantage. Information management is crucial for a company's performance and growth and should not be solely the domain of IT or financial specialists. This perspective emphasizes that every manager shares the responsibility for effective information use that generates real business value. Managers may lack IT expertise, but they must foster conditions that enhance information utilization. The authors encourage managers to understand their information responsibilities, enabling their companies to leverage information more effectively than competitors. By employing the framework of 'strategic information alignment,' the text illustrates how information can drive business value through customer satisfaction, innovation, risk management, and cost leadership. It provides insights into the why, what, and how of improved information management. This resource is tailored for business managers, drawing from the executive education and real-world research of a faculty team engaged with leading global companies, equipping managers with the mindset and guidance to harness information for business success.