Introduction ContentsC&C is a top producer, marketer and distributor of cider, spirits and liqueurs; and a distributor of wines and spirits. The aim of C&C is to make shareholder returns by a combination of solid medium term earnings growth and a progressive dividend policy. The Group will attain growth through its skills in marketing and brand management; focusing marketing investment on a number of high margin growth categories and markets; and the constant chase of effectiveness and improvements. The Group's assurance to a progressive dividend policy is supported by retaining a high return on capital employed and a regular approach to investment.Deliver growthOur vision is to be a successful manufacturer of premium and niche drinks that does not rely on scale for success. We have a state-of-the-art cider manufacturing facility. It is supported by h3 Research & Development and marketing potential. We are led by a superior quality management team and have a committed and responsive workforce. Taken together, these considerable assets make up a healthy basis from which to deliver future growth.Improve shareholder valueOur business is leaner and simpler to manage than it has ever been and it is ‘right sized' to meet our realistic medium term business objectives. We have a portfolio of outstanding premium and niche drinks brands and we are committed to introducing ground-breaking new products that will improve our portfolio. At the same time, we continue to focus insistently on improving both our cost competitiveness and the efficient running of our operations. Building on this three-pronged strategy, our objective is to deliver improved value for our shareholders.
LO1: Understanding the impact of management information on decision making
1.1 Identify the features of data and informationDATAData is a collection of raw facts and figures with which conclusions are made. Data could be anything it can be a list of names or numbers i.e. in an accounts ledger names will be the data and numbers in pounds can be the amounts in money.
When data is processed and is put in a meaningful form or way it becomes information. For example, in a sales day book there will be information about customers telling their names and how much amount they have paid and how much is left.
Information plays a vital role in any business. It is like blood circulating in the body. Without information we can not do anything. No business can run without having the relevant data and information it requires, it depends on its availability. A business without information is like a car without diesel. Hence, it is very important for a business to have the relevant information and data because it works as a fuel for the business.Data and information for C&CFor a company like C&C plc having the right information about the environment, customs, laws and customer needs is of key importance. As C&C is the manufacturer of wine, beers and alcohol it can only survive in an environment or society where these things are acceptable and in demand. To gather this information the company will firstly see the law of the country in which it is going to start business, as we are talking about their business in UK the law allows this business. Here in UK there is a high demand and need of alcohol like products so it was a rich environment for the company to run their business. Then comes the customer needs, which is actually information about what type of drink is liked the most in which part of the country and also information about taste. Data about this can be obtained by doing surveys and examining the current market i.e. by observing the similar businesses running in the country.
1.2 Determine the criteria to be applied when selecting data and information to support decision-making
Availability of the right data and information at the right time in the right place is really important, as it plays a vital role in the decision making process of the business. The following criteria is needed to apply when selecting data and information for the business.
The information should be accessible and available. Businesses know that the information or data which it requires exists. It has to access it or it can also hire any specialist to do this for them. The information about the business should also be accessible by the customers, say on the internet. Like C&C group plc website is http://www.candcgroupplc.ie/
Relevant information about the business should be available for customers easily. In the case of C&C group plc, this can be done by putting all the relevant information about the company's products on their website and reports. Easy for the customers to access and make the right choice.
And for the business the information required by the management should be properly examined. It should also be to the point but complete. The amount of time utilised in examining and managing the data should be according to its importance, it can sometimes be a time consuming task. In C&C group plc this can be the availability of the market survey information to the right people for example, the data gathered from the surveys should be put in an easy and meaningful way which will actually be the actual result obtained telling what is actually needed in the market. This information will then be used by research and development departments, marketing and selling departments, production department and others etc.
The information gathered for decision making should be in a form easily understandable by those who have to make decision on it i.e. comprehensible. Otherwise it can result in wrong decisions being taken.The time is also an important factor. The information retrieved and used for the decision making should be made at the right time. Spending too much time in making a small decision is obviously not good for business. This can also be about promoting or boosting the business more in heavy drinking seasons like carnivals, Christmas, St. Patrick's day etc.The information acquired should be sufficiently accurate to make a decision on it. It is also connected to the timeliness of the information, as early or quick acquisition of data or information can lead to errors.
1.3 Evaluate the impact of a management information system to an organisation
Management information system is the collection, managing and processing of data and putting it in a form which is easy to understand and access. A good management information system is where correct information is brought to the right place at right time in right form. MIS combines technology with business to get people the information they need to do their jobs better, faster and smarter. (wikipedia)Information system emerges when technological and social systems interact, Allen Lee (2008). The management information system clearly makes a significant impact on any organisation.It increases the productivity and creativity of knowledge in workers who are working with information resources. It will then increase the productivity of the organisation as well. When the workers have better information they can improve the quality of the product. And same is the case with the customer i.e. a customer having relevant and accurate information about the product will be able to make a clear choice. Having a good management information system can give the organisation a competitive advantage. A good MIS will also lead to a better management of resources in the organisation. Management will be able to make right and beneficial short and long term decisions for the business which means business will be able to run successfully in the long run.Like in the C&C group plc computers are used to store all the relevant information. Information system covers all the areas of a business i.e. all the data and information gathered regarding the products are stored in the computers and are accessible to the relevant people. The research department people will take information from the system and will use it in reaching a more advanced and developed idea or product. The sales and market people will be doing market researches through surveys by putting them online and also putting products' advertisements on the websites where there is most possibility of attracting the right customers. Information is also available about the products and services on the websites for the customers, shareholders and other stakeholders.Besides all this the top management of strategic level will retrieve only the relevant information quickly and in an easy way to make long term critical decisions for the business. All this is done to increase the efficiency and accuracy of work and to minimise the cost as much as possible.
LO2: Understanding the importance of information sharing within the organisation
2.1 Determine the legal responsibilities in sourcing, sharing and storing information
Safe information system managementWhen any important or sensitive information is provided it should be considered that it is ethically and legally secure.
The security of information system is about managing risks and considering the causes and effects if security is breached.
Ethical considerationThe following are the ethical considerations of an information systemPrivacy– there should be restriction in the information about the people and their interaction in business.Accuracy– information should be accurate.Property– ownership rights should be considered i.e. copyrights and patents etc.Access– information should only be accessible by authorised and concerned people.
Legal considerationAll organisations have legal obligations regarding information and its storage, processing and retrieval.Managers must be aware of the relevant legislation. There are four legal areas that managers need to be aware of relating to IS management;
Data protection actData protection act protects the information and data of people held somewhere and also a right to know how much is held.If you are processing personal information covered by the Act you must comply with the data protection principles. These require that personal information is:
(www.businesslink.gov.uk)For C&C group plc the information about their research, staff, customers and suppliers etc is kept confidential. Even within the organisation it is accessible by the authorised person who actually needs that information. The company fulfils its ethical considerations by taking reasonable actions to keep the information confidential where needed by keeping it separate from each other, keeping systems locked and passwords on the main database only accessible by authorised staff. And also the information about the customers and suppliers are kept confidential and are only used for their own business purposes. The information held is not transferred to others hence the company fulfils all the legal requirements of privacy of the information. Also the company is strictly following the data protection act by protecting all the data of customers, suppliers shareholders etc.Within their business boundaries the basic information about the research and development of products should be kept confidential in order to gain a competitive advantage. 2.2 Discuss when information should be offered and access allowedThe information should however be made available where it is required by law or needed within the business limits. People of concerned departments have access to the information they require to do their work. When it is required by law to disclose information about a certain thing for example, if there is a legal case going with any of the stakeholder it should be disclosed for the purpose of the case. Financial and other information is made available to the auditors which is part of the business and is legally required as audit is also a legal requirement. Also some financial statements telling the performance of the company are published. These are sent to shareholders and also available publicly. Although even at these times when the company is required to offer or disclose the information they are kept within the legal and ethical boundary as only the required information is disclosed.
2.3 Evaluate the formats in which information can be offered.Effective decision making is very much influenced by the information presentation format . The insidious nature and ease of use connected with information display formats in widely used personal productivity software suggests that decision-makers are likely to create and/or use documents with both text-based however; empirical research has not extended to more complex tasks, more comparable to the types of tasks decision-makers face every day. Outcomes from the empirical analysis suggest that the relationship between information presentation format and decision performance is moderated by the complexity of the task. More specifically, spatial formats result in greater decision accuracy for simple- and complex-spatial tasks and faster decision time for all tasks except the complex-symbolic task where graphs and tables result in equivalent decision time. Academic Press, Inc. Duluth, MN, USA C&C group plc makes the information as required available in different formats i.e. paper and web by publishing their annual reports on the website and also on paper. This includes the chairman's word on the performance of the company and also some other key factors are identified. Financial information is also published under financial reports to show the wealth and position of the company making it attractive to stakeholders for investing.For management level financial information is made even more extracted like calculating ratios of the financial statements make it much more easier for the management to focus on the areas where attention is required the most. In this way they are able to make the most effective decision for the right thing at the right time.LO3: Use information to inform and support strategic decision-making3.1 Analyze information to identify patterns and trends
The management of C&C plc should select the relevant and accurate information from its reliable sources to arrive at relevant decisions. Both qualitative and quantitative information is to be analysed. The information should be analysed correctly in a way which identifies patterns and trends which are significant to take decisions. Clear conclusions should be made with reasonable arguments and appropriate evidence. When results of the analysis are presented, there should be a clear differentiation between facts and opinions. The assumptions and decisions made at each stage should be recorded.
3.2 Evaluate a range of decision making tools and techniques available to support a strategic decision.
Although numerous decision making tools and techniques are used within organisations to enable creativity and effective management decision making, some will be discussed here. C&C plc can take advantage of any of these tools and techniques;
Decision treesTo sort out complex problems decision trees are an analytical tool that can be used by individuals and groups.By determining the root of the problem and indicating the potential consequences of alternative decisions. The relationship between decisions, outcomes, payoffs and available possibilities are shown over a period of time.
Forcefield analysisThe two mutually opposing forces (driving and restraing) that support or constrain a proposed decision. In order to enable the change process to proceed the role of the manager is to minimise the two forces Lewin (1951).
Pareto analysisThe 80/20 rule has been established to determine which 20% of concerns are causing 80% of the problems of the organisation. In order to focus the efforts to the greatest profits.
Cost/Benefit This is an evergreen you've probably used a dozen or more times; estimate the costs and the benefits and decide if the delta is worth the hassle. As ever, be sure to account for allthe costs of a change, including the meta stuff.
Image generation Morgan (1997) utilises metaphors to ‘find new ways of seeing, understanding and shaping...actions', a means of seeing the world anew and facilitating the learning of new knowledge perspectives about a situation, in order to make organisaitonal change interventions.Metaphors allow us to understand something by name or description that is not literally applicable to it. For xample,
C&C group plccan obtain data from different sources which are as follows;
Internal company informationThe data can be obtained from internal sources of the company such as sales, orders, customer profiles, stocks, customer service reports.
Market researchThe internal sources may not provide sufficient information. The company may need to study the industry of alcohol and wine in order to acquire data required to support their marketing strategy.
LO4: Monitor and review management information
4.1 Identify methods of evaluating management information within an organization
The following criteria can help you to evaluate any information you find:
Relevant information about the business should be available for customers easily. In the case of C&C group plc, this can be done by putting all the relevant information about the company's products on their website and reports. Easy for the customers to access and make the right choice.
It should be considered when the information is obtained. Means that how old is the information on which we are going to depend while making strategic decisions. A report of 2004or older is obviously not required rather the results and reports of 2008 and 2007.
The information should be gathered form reliable sources of C&C group plc.
The information acquired should be sufficiently accurate to make a decision on it. It is also connected to the timeliness of the information, as early or quick acquisition of data or information can lead to errors
4.2 Discuss process for analyzing impact of information on strategic decision madeManagement information has a key role in these systems. These systems are used to evaluate and improve the effectiveness and efficiency. The following are the stages in evaluating management information.Goal settingGoals are made from the company's objectives. The aim of C&C group plc is to make shareholder returns by a combination of solid medium term earnings growth and a progressive dividend policy. Performance measurementThe company then take measures to check weather goals are being achieved or not i.e., Doing gap analysis.Performance diagnosisAssess reasons for variance from target to actual. In this stage knowledge is applied to the performance.Corrective actionNew approaches are then implemented to achieve or gals are modified. Information on the new approach should be obtained and recorded.
4.3 Determine methods of developing information capture to inform and support strategic decision making
Information captureis the process of collecting paper document s, formsand e-documents, transforming them into accurate, retrievable, digitalinformation, and delivering the information into business applications and databasesfor immediate action.( wikipedia)The objective of information capture is to;
