Management Questions Assignment

Question 1

The two information overload instances that are highly experienced by Jim include the sharing of excessive information from several employees and clients in the workplace and the presence of various financial and legal terms which is complex to understand. The key step needed in the difficult situation for Jim would be applying the correct channels of communication. Being selective about communication channels will help to maintain and improve coordination among team members and other managers within the mortgage broking company. Jim has to adopt the strategy of using a particular news feed for his staff and clients rather than using blogs of internal companies and newsletters. In this way, tailored information can be accessed as well as received by choosing preferred devices and channels. Segmentation of the content will be an appropriate way to reduce information overload. This will only constitute a few topics that need to be covered and clarify the roles of employees in the firm so that content can be resonated and shared efficiently. The second step will be determining the company's internal communication system and taking it as a top priority. The potential measure that needs to be undertaken includes the determination of internal communication issues by asking staff members to consider the existing internal communication strategy. For instance, Jim can ask employees internal communication-oriented questions in various surveys of employee engagement carried out in the company. In any way, the survey can be conducted, but it should be ensured by the operations manager that feedback is regularly taken from employees along with motivating their voice share.

On an essential aspect, Jim should adopt necessary alterations after gathering feedback from all staff members. In addition, for resolving financial and legal-driven issues within the mortgage broking firm, implementing effective technology is the third vital approach that will play an essential part in reducing information overload. Placing an efficient accountable system will be useful for Jim in streamlining information flow in a better way and making sure the data established is shared with the correct personnel who can understand these lawful and financial concerns and aspects. Besides this, the presence of accurate technology would also assist Jim as well as other managers and leaders working to resolve the huge financial workload along with eliminating certain legal concerns. The development of a modern and latest solution for employee communications will help to generate internal content, distribute suitable content to staff members, and allow each one of them to join the conversation. The workload will be lessened as employees will be able to share data both externally and internally. Besides this, the segmentation procedure of the internal audience can be carried out effectively by applying various criteria like functions and roles of employees, departments, interests, languages, and locations. If the operations manager, Jim is able to schedule similar tasks together and recognize top priorities by taking the following necessary measures, then it can help in enhancing the productivity of the firm along with removing unnecessary information overload. This is because all staff members will be able to operate within regular intervals on similar tasks. The operations manager should also further remember to set a specific time limit based on data gathering and know the effectiveness that all decisions and tasks undertaken are equal.

Question 2

The new app idea of Claire and Harriet should be supported by vital information quality aspects so that it can help in getting the latest business opportunities. The first aspect would be choosing the right platform and enabling it to reach a broader audience number. An essential part is played by the audience when establishing the mobile app. Analyzing important factors like the target country, their age group as well as the industry and business type shall be necessary before the selection of a platform. For instance, if both individuals are targeting to set up the business in the United States, then they should mainly be giving emphasis on iOS and after that Android. This strategy should be followed because these two information technology systems are applied mostly around the US, and hence they can provide less effectiveness to Windows. To select the platform which is best suited, certain vital things must be given concentration like the use of hybrid or native applications if the focus is on development methodology. Native apps are used for a particular platform and they can further benefit in relation to various features of the operating system. This app contains the capability for using device-oriented software, and hardware and further it shall make utilization of the newly available technology on mobile devices like a figure print, touch pay, camera, or GPS. Besides this, hybrid apps can be another option as they are generally an amalgamation of web and native apps. These apps operate on deploy everywhere and write once principle and they are cross-platform in characteristics. Hence, it can be suggested for both Claire and Harriet that if they go forward by utilizing a native app, it can be time-consuming and costly yet at the same time, a rapid user experience can be provided by it. Elsewhere, taking the option of a hybrid app shall eliminate time and costs considerably yet developers of mobile apps shall have to bear its consequences anytime. Other than this, a mobile analytics approach can be chosen by them as analytics play an important role nowadays in bringing technological innovation successfully. Data related to mobile analytics can be efficiently applied, stored, and captured for enhanced engagement and interaction of users. Strengthening of user experience can be done potentially along with modifying various functionalities. Before the adoption of analytics is done, both parties must be clear with regard to the type of data they want to store and track. Well-planning within the phase of development can help in gaining correct outcomes for Claire and Harriet.

Information is considered an important resource for the success of any organization. The future of an organization mainly lies in disseminating and using information in a wise manner. Considering the case of Harriet and Claire it has been found that they are trying to make a new mobile application which they want to sell to a large company in the future. In order to make this new mobile app they need to research the market regarding the demand cost as well as various other factors for the particular mobile app they want to make. Hence, it is very important for them to collect some good quality information. Information that is of good quality, and the information is placed in the correct context at the right time, reveals much more regarding the issues and opportunities in advance. The aspects of information quality which have it and clear should be considered before including it in their business plan mainly include accuracy, believability, reputation, objectivity, timelessness completeness, and many more. The information which has been collected by them should be dependable and verifiable. Also, it must be current and it should reach the users well within time so that they can make important decisions. The information must be valid and it must reduce the uncertainties. It should also be free of any mistakes, errors, and deceptiveness and must be true. In order to determine whether the information collected is accurate or not, it is important to check that they information replaces the situation of the real world. Accurate is an important quality of data as inaccurate information chords important problems with serious consequences first the information collected by companies before it is to be included in the business plan. When the information is incomplete, it cannot be used. Along with all this, Harriet and Claire should keep in mind that they must not reach the condition of information overload. Information overload is referred to as the condition where there is much more information that cannot be handled. Information overload is considered a huge problem for people as it impacts the quality of their decision-making. The characteristics of information quality are very important in today's environment of business as they ensure that people get the most out of their information. When the information does not meet the criteria, it is not valuable.

Question 3

Streamlining process mainly refers to the practice of eliminating and recognizing unnecessary and repetitive steps as well as activities within a process to make it much more effective and efficient. The main goal of the process of streamlining is to reduce waste increase productivity and enhance efficiency. It also includes leveraging modern technology instead of manual labor. There are various tips that can be used to streamline the process at an organization. In the case study, it has been found that Mustafa wants to turn his business into a paperless office. He does not want any kind of wastage and seeks to embrace a much more office space that is environment-friendly. With the help of streamlining the process, Mustafa can study the process prior to automatic it, and also he can think of a long-term impact. Using readymade solutions is much more efficient as compared to choose any manual solutions. The streamlining process can help Mostafa in choosing technology over manual labor. There are various technologies that can help Mustafa in making her business a paperless office and also it will be environmentally friendly. Since the price of paper ink and printer would be costly and also it will not be environmentally friendly Mostafa can choose to use soft copies within his business. For instance, he can simply use Word file excel file, and any other source to create soft copies instead of printing a paper. This will reduce the use of paper in his business. A green office will save the money of Mostafa. All so a green office mainly aims to lower the carbon footprint while generating a much more mindful environment for individuals who inhabit that workplace. With the help of a streamlining process, he will be able to make a sustainable office that will meet the global criteria of sustainability.

Business process reengineering is considered the radical redesign of the processes of business in order to achieve dramatic enhancement in cycle Times quality, productivity as well and satisfaction of consumers. With the help of business process re-engineering, the business building company of Mustafa will start by evaluating what work is needed exactly in order to deliver value to the customers. Business process re-engineering helps to make important changes to the central process of the business. Hence this will help Mostafa to change the central component of his building business and he can choose ways which will help to enhance efficiency lower the cost and waste as well as enhance the quality of the product. Reducing the number of printers in the office will be much more convenient for Mostafa in this case. The business of Mustafa should not be heavily dependent on printing. It is much more important for him to transition his employees slowly over to the digital systems of document management and equip them with access to the PDF editors and appropriate tools prior to taking away the printers. He should also source products that are environmentally friendly. It should think of recycling the papers that are being used in its business. It is also important to reuse things that are reusable. Most business nowadays prefers paperless statements which will also lower the quantity of paper in the business. It is much more convenient to use email, PDFs, and documents as compared to paper statements. Also, in order to store the document, he can use cloud-based storage which is being used by lots of businesses in recent days. Cloud-based storage mainly helps people to go paperless in their business by offering the capability to collaborate on documents in a digital manner. It also makes sure that the documents are stored secularly and backed up. It eliminates the hassle and saves time for printing the paper copies.

Analyzing the benefits of both the approaches of streamlining and business process re-engineering, it can be said that the business process re-engineering approach will be much more helpful for Mustafa in order to turn her business of contracting buildings into a paperless office. Moreover, it will help him to reduce both the cost and wastage and will make his office sustainable, environmentally friendly, and green. Business process re-engineering will help to deliver the outcomes that Mostafa wants. Hence, Mostafa should choose the approach of business process re-engineering.

Question 4

Three organizational advantages of a bank-specific information governance approach are mitigates risk, enhances capital flow, and improves corporate reputation. Karen should develop risk mitigation which includes the method of discovering and minimizing risk. Corporate governance reduces risk by establishing rules and processes that guarantee important individuals inside the bank have the ability to detect and analyze issues as they occur. This also gives shareholders along with other interested parties peace of mind that the bank is looking out for their best interests by minimizing risk. Comprehensive corporate governance structures incorporate risk reduction strategies and exit plans that give credible choices to potential investors even if stock prices fall. There are several sorts of risk factors that may be mitigated by corporate governance, for example, financial efficiency, operational effectiveness, and financial well-being. The next organizational advantage is strong company governance influences capital flow as well. This is due to strengthening investors, banking institutions, and other types of lender trust in the bank making it easier to get funds when the bank requires it. Along with improving access to funds, strong corporate governance often reduces the expense of capital along with the value of equity, resulting in appropriate capital flow. Effective corporate governance serves as essential for banks that are dependent on outside funding or help because it displays a bank's reliability and quality to other parties while rendering a bank less of a danger possibility for lenders. The third organizational benefit is that corporate governance has an impact on the image of a bank. The improvement of a bank's corporate governance enhances openness in internal affairs and indicates that the bank has adequate control systems to properly manage quality, hazards, and performance. This boosts the bank's reputation in the field and raises brand value. Increasing bank reputation has become a significant benefit of corporate governance since it influences many other areas of a bank's performance. A high professional reputation not only makes it simpler to get funds and recruit fresh personnel but also implies that partner banks are more interested in collaborating with the particular bank and that individual or consumers are more inclined to regard the bank favorably.

Two principles that must be followed while adopting a knowledge governance approach are to communicate and develop a framework along with clear policy and ensure the integrity of information. A policy, similar to an objective or statement of purpose for information management (IM), is critical to establishing a framework regarding information governance within a bank. It defines IM standards and practices in order to establish the groundwork for a larger framework. The policy must outline the advantages of strong information governance, define roles and duties, indicate a commitment towards satisfying corporate, legal, and regulatory needs, and influence information management practices. A more detailed information governance structure goes a step further. It creates critical standards, protocols, and guidelines for information resources, as well as the legal and regulations in which materials are generated, utilized, and maintained, and it conveys each employee's role like Karen. To ensure success, top management should convey the bank's policies and structure to employees on a regular basis. These initiatives are more likely to work in banks that promote a culture of understanding and value for information management. As data is most valuable when it is accurate, authentic, and reliable because protecting data integrity is an important component of data governance principles. This concept is concerned with the consistency of techniques used to generate, keep, preserve, disseminate, and track data. Document audit records can help in legal procedures by demonstrating a document's past and movement. So technology is going to be important towards this.

Are you struggling to keep up with the demands of your academic journey? Don't worry, we've got your back! Exam Question Bank is your trusted partner in achieving academic excellence for all kind of technical and non-technical subjects.

Our comprehensive range of academic services is designed to cater to students at every level. Whether you're a high school student, a college undergraduate, or pursuing advanced studies, we have the expertise and resources to support you.

To connect with expert and ask your query click here Exam Question Bank