Information Management in Modern Business

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Table of Contents

Introduction
Information Management Today
Ackoff Revisited
CPA Vision Project
Skills Needed for Accountants
Conclusion
References

Introduction

It is paramount to note that technologies that are related to information management have been significantly improved over the last few years. However, many significant issues are still present and should be addressed. For example, some information that is collected is completely irrelevant, and it leads to numerous complications. It is also necessary to understand that several limitations prevent implementation if information management in various companies (Hinton, 2006). The biggest problem is that enormous amounts of resources are required in most cases, and it is not an easy task to justify storage of information is viewed as not valuable. However, it is imperative to note that data analysis tools that are often introduced can be used to process the information, and some organizations also offer similar services.

Information Management Today

The article that was written by Ackoff in 1967 is one of the best examples of works that are tested by time. The author had discussed five assumptions that are related to information systems and explained why he disagrees with them in great detail. It needs to be said that the first statement that is listed in the article is no longer accurate because some systems have been developed to address this significant issue. Information is now represented in a comprehensive manner because tools for visualization are often used. Nevertheless, it is true that an enormous amount of unnecessary data is still present.

The biggest issue is that all the information is connected, and it is nearly impossible to evaluate which correlations are meaningful without human interference. It is paramount to say that the second assumption is true because managers nowadays have much better understanding of information that is necessary. However, the problem that needs to be discussed that some essential data is not taken into account most of the time, and it needs to be considered because it is possible to find correlations that are valuable. The third assumption is also true in most cases because a qualified manager should be able to utilize the information that was provided to its full potential. Assistance or tools that help with decision-making process may be necessary in some cases to achieve best possible results (Ozz, 2008).

Nevertheless, it is paramount to understand that the results are extremely dependent on the resources and tools that are available. Similarly, the fourth assumption is also correct even nowadays. Communication was viewed as one of the most significant aspects of management, and many methods and techniques have been developed to address the issues that may occur. Such tools as smartphone applications are especially valuable because they can be used to interact with employees and supervisors in most environments, and this is extremely useful.

The last assumption is also correct because most information systems are relatively easy to use for managers once they are trained to use them and gain enough experience. However, one may want to understand the way in which it functions to improve personal knowledge significantly. Such individuals will also have an understanding of limitations that are associated with similar systems, and these factors will be taken into account during the process of decision-making.

Ackoff Revisited

It is necessary to understand that these assumptions were developed long time ago, and a vast range of technologies and strategies has been introduced that have helped to address some of the most significant problems. However, they may be updated with the knowledge that is available today. The first assumption is that new methods of analysis can be used to overcome the difficulties that managers have to face in the workplace that are associated with the lack of information. However, it needs to be said that it is not true, and most professionals have to deal with this issue even nowadays.

It is true that they have access to a broad range of data, but some essential information may still not be available. The second assumption should focus on the fact that expectations for information managers are currently too high, and most believe that one should be able to identify the information that is necessary in the particular case. However, it is not true because each situation needs individual approach. Enormous experience in the industry and cooperation with other professionals may be required. The third assumption should state that decisions that are based on the available data are correct in most cases. It is paramount to understand that it may not be true in some situations, and may lead to severe complications.

Numerous factors should be considered before the final decision is made, and should not be based solely on the data. The fourth assumption also needs to be updated. Most believe that modern tools of communication are extremely efficient, and personal conversations are not as necessary as they used to be. However, it should be said that this opinion is questionable. One of the central problems that need to be discussed is that interactions on the Internet are extremely different. The last assumption that is currently popular is that information managers should understand the way information systems function. It is paramount to address the fact that they became incredibly complicated over the years, and it is not an easy task to comprehend such systems, and it requires knowledge in different areas.

CPA Vision Project

CPA Vision Project has been developed to provide a perspective on the profession of an accountant in the future. Its primary goal is to evaluate the issues that are currently related to this job and to find the ways to solve them. It is understandable that perception of accountants has changed over the years, and many companies view it as not as necessary as it used to be. The main problem is that numerous operations that were previously performed by professionals are now performed with a use of modern technologies. However, it is imperative to note that an enormous number of tasks have been introduced that may be solved only by qualified professionals.

The framework that was developed is extremely useful because it provides a broad range of competencies that are required for an accountant. The values that are listed are essential for this job, and every individual should understand that they should be focused on to be a successful professional. The information about core services is also paramount because it helps to identify the areas that interest managers the most. This project focuses on aspects that are related to new technologies, and it is suggested that they should be used to guarantee that the information is delivered to managers according to their demands. Issues that are related to communication are also addressed.

It is essential because an accountant should be ready to cooperate with supervisors and create relationships in the workplace, and every qualified specialist should be able to voice their opinions to make sure that operations are performed efficiently. It needs to be understood that profession is changing at an incredibly fast rate, and one should be able to accept the situation that occurred. One should be able to meet the expectations of any company if he or she follows the principles that are suggested in the framework. However, it is in need of improvement because it does not address some of the fundamental problems that are currently present.

Skills Needed for Accountants

A broad range of skills is necessary for every accountant to make sure that correct information is provided. It is imperative to understand that requirements often vary from organization to organization, and experience is also necessary most of the time (Sin & Jones, 2003). Analytical skills also essential because some tasks are incredibly complicated, and accountants are often faced with tough decisions in the workplace that require an understanding of numerous processes.

Communication skills also should not be disregarded because this job is associated with interactions, and one must be able to express his or her opinions about financial statements. Information must be delivered to subordinates and supervisors in a comprehensive manner with the use of such methods of data representation as numbers, info graphs and others. Outstanding computer skills are extremely necessary because new technologies are often introduced, and it is paramount to keep track of latest trends. Excellent knowledge of computer programs is of utmost importance in modern society because data is mostly recorded and stored in spreadsheets, and an ability to use databases is incredibly valuable. It is imperative to have access to the Internet because the software is updated quite often, and some of those updates are crucial.

Also, it is necessary to understand the measures that should be taken to guarantee the safety of information. Leadership skills may also be required because it is necessary to organize the process of data collection and to motivate workers to make sure that correct information is being produced. Supervision can be one of the most imperative of accountant’s responsibilities and should not be disregarded. Ability to work in a team is also crucial, and it needs to be said that it is nearly impossible to be successful as an accountant if an individual cannot cooperate to achieve common goals. Overall, various career opportunities for an accountant are currently available, and the profession has faced numerous changes over the last few years. It should be noted that an ability to adapt is of utmost importance in most cases. In is extremely necessary to develop as a professional if one wants to stay competent.

Conclusion

In conclusion, it needs to be said that information management has dramatically improved over the last few years because of the introduction of numerous new technologies and tools. Some of them are incredibly disruptive, and various enterprises are not ready to face such changes. Many issues that are associated with accounting information systems are still present and need to be addressed. Overall, it is imperative to understand the aspects that may cause complications if one wants to become a successful accountant in the future.

References

Hinton, M. (2006). Introducing information management. Oxford, UK: Elsevier Butterworth-Heinemann. Web.

Ozz, E. (2008). Management Information Systems (6th ed.). Boston, MA: Society for Cengage Learning. Web.

Sin, S., & Jones, A. (2003). Generic skills in accounting. Frenchs Forest, AU: Pearson Education Australia. Web.

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