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Chapter 17

Chapter 17. Success Factors and Management Information Needs. Objectives. After studying this topic you should be able to: Understand management information needs; Explain the principles of CSFs; Know how to conduct CSF identification and practical uses; and

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Chapter 17

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  1. Chapter 17 Success Factors and Management Information Needs

  2. Objectives After studying this topic you should be able to: Understand management information needs; Explain the principles of CSFs; Know how to conduct CSF identification and practical uses; and Appreciate industry research into CSFs and industry-wide CSFs.

  3. Management information needs To function effectively managers’ need to have facts (information) to make informed decisions. In modern businesses there is ample raw data – every bill, invoice, bill, email, letter provides raw data, but the important factor is how this is turned into information that is of use to managers. Raw data = raw, isolated, unordered facts Management Information = data that has been processed into a form that is meaningful or relevant to the receiver and aids management decision making

  4. Criteria for good quality information Appropriate volume Relevant to the decision being made Understood by the user Arrive on time Be accurate Be complete Frequency to meet needs

  5. Designing management information systems (MIS) The starting point can be led by: Accountants Computing system Head office management Operational management Best to focus on needs of the specific management role

  6. Defining Critical Success Factors (CSFs) Originates from the 1970s It starts by defining an organisation's strategy, goals, critical success factors and measures and has a number of uses.

  7. Corporate CSFs Framework

  8. Goals, CSF and Measures

  9. An explanation of CSF terms, using an airline

  10. The use of CSFs in an organisation A tool for identifying management information needs For organisational planning purposes, both operational and strategic To aid the planning of an organisation management information system

  11. A tool for identifying management information needs A number of research projects have consider this – see references in the textbook Finding show goals are often implicit and this make them explicit Aided management in understanding own role and matching management information to their needs

  12. For organisational planning purposes, both operational and strategic Can aid developing strategic direction Ensures resources follow areas critical to success – targeted resource allocation to ensure CSFs are met Sector specific studies can aid in understanding the external market

  13. To aid the planning of an organisation management information system Allows a system to be built that relates to specific CSFs MIS directly matched to strategic goals and needs of managers It provides the inputs required, alongside the output reports needs (reported measures)

  14. Summary Management need good quality information to make fully informed decisions. Designing MIS’s can be fraught with issues and need careful planning. CSFs can aid an organisation in a number of ways. CSFs are the few key areas where things ‘must go right to meet organisational objectives. CSFs can change with time and by management role or function.

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