Barriers to the Effective Deployment of Information Assets: An Executive Management Perspective

Abstract

In the knowledge-based economy the wealth-creating capacity of organisations is no longer based on tangible assets such as buildings, equipment, and vehicles alone. Intangible assets are key contributors to securing sustainable competitive advantage. It is therefore critically important that intangible Information Assets (IA) such as data, documents, content on web sites, and knowledge are understood and well managed. The sound management of these assets allows an organisation to run faster and better, resulting in products and services that are of a higher quality at a lower cost with the benefits of reduced risk, improved competitive position, and higher return on investment. The initial stage of this research found that executive level managers acknowledge the existence and importance of Information Assets in their organisations, but that hardly any mechanisms are in place for the management and governance of these valuable assets. This paper discusses the reasons for this situation by referring to barriers such as lack of awareness and justification, ineffective management, leadership, and governance, as well as inadequate systems and practices. Without understanding these barriers, it is impossible to improve the management of these crucial assets and thus reduce risk, improve competitive position, and increase return on investment.

Consequences of ineffective information and knowledge management (IKM) in hospitals: junior doctors’ perspectives

“…IKM practices are defined as "the capability to manage information effectively over the life cycle of information use, including sensing, collecting, organising, processing, and maintaining information" (Jylhä et al, 2017: e30). Important aspects of IKM include the capability to instil and promote positive information behaviours and values in people to ensure effective use and sharing of information (Evans & Price, 2012). IKM is forecast to become the biggest growth area in health due to digital transformation of the healthcare sector (Fenton et al, 2017).…”

“…Evans et al (2018: 57) found that junior doctors believe IKM is almost their entire role and that their job is "99% information gathering and 1% what decisions you make from that information". Information and knowledge are often not accessed, used and managed effectively (Evans & Price, 2012). The adverse impact of ineffective IKM is very evident in health care environments.…”

Reaching out to stakeholders: The use of knowledge terminology on the websites of Australian public hospitals

“…Private hospitals were excluded from the study. The number of hospitals included from different states and territories were as follows: Australian Capital Territory (ACT) (1); New South Wales (NSW) (33); Northern Territory (NT) (1); Queensland (QLD) (22); South Australia (SA) (12); Tasmania (TAS) (11); Victoria (VIC) (33) and Western Australia (WA) (38).…”

“…Such a ‘knowledge focus’ relates to culture, values, and organisational structure. The organisational structure must support the organisation to deliver the right information to the right people at the right time [ 22 ]. Social norms such as openness and teamwork—where cooperation is fundamental—are key characteristics of knowledge intensive organisations [ 5 ].…”

Towards a Context-Dependent Approach for Evaluating Data Quality Cost

“…Repositioning into a data-driven organization, or at least turning the data available into a real asset [1], inevitably imposes the need to improve their quality. Indeed, organizations tend to depend on their data to make informed decisions.…”