Assessment task 1 – BSBINM601

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Assessment task 1 – BSBINM601

BSBINM601

Manage Knowledge and Information

Assessment 1

  • Review staff and customer feedback and business performance data
  • Data can offer managers a wealth of information but can also overwhelm them with conflicting outcomes that can hinder or limit their decision making capabilities.

    Too often business owners don’t realise the power behind identifying their most desirable customers and targeting sales and marketing efforts to draw those customers to them. Responsibility for a business owner is to make the business work for them and their employees that will provide the best possible return on investment. Review staff and customer feedback and business performance data to help you identify factors that may hinder performance objectives and track progress against performance objectives.

    Staff reviews help employees know how they have been doing and what further development or training they need to do to improve. Enabling a process to receive responses from customers provides a company the opportunity to address issues or customers may have with their products or services. Decisions made from negative feedback can be widespread if it relates to a product deficiency and possible lawsuit. Managers can make decisions based on feedback to determine if a product is discontinued or a new product is manufactured.

    Without information, you sometimes can’t act at all. In most organisations, information is piecemeal. It’s on a ‘need to know’ basis only and the assumptions about ‘who needs to know what’ rarely get questioned and usually run along the lines of the hierarchy. In this environment, information becomes a control and access to it becomes part of the organisation’s structure that shape activity and behaviour. The result being that people who are tasked to ‘get it done’ rarely know everything they need to know to recognise and interpret early signs of change or trouble.

  • Identify, define and analyse business problems and issues
  • The Internet and search engines – these can be a powerful source of knowledge, although be certain to check the credibility of your information source. Internet newsgroups can be specific sources of business information, but check the authors’ other postings before deciding how to view their opinions and claimed facts.
  • An intranet is a secure internal network for the sole use of your business.
  • An extranet is similar to an intranet but can be extended to customers and suppliers.
  • Customer relationship management software helps you build up a profile of your customer database and enables you to target them through e-mail, telephone or postal marketing campaigns.
  • Call-centre systems enable you to serve large numbers of customers if you sell by telephone.
  • Website log-file analysis helps you to analyse how customers use your website so you can improve its effectiveness
  • Identify information required to reach a decision on problems/issues
  • Companies that recognise information is the most important tool to performance institute an open book management style. Here employees understand financial information and the opportunity to see the real financial implications of everything the company does, including the effect on the whole business of their own department and job role. Essentially, employees in this environment are more comfortable to take the ‘right action’ if they have the whole picture.

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    Assessment task 1 – BSBINM601
    Last updated: Feb 2024

    Page 1

    entially, employees in this environment are more comfortable to take the ‘right action’ if they have the whole picture.

    It depends on how the decision impacts the overall vision of the business and its ability to meet its objectives. If a business is looking to grow by acquiring new businesses, then the information right for this decision is whether the potential business fits into the overall vision of a company. What do you know about its people, systems and resources in order to integrate its operations effectively and smoothly with our own.

  • Source and gather reliable information
  • Locating Useful Resources

    When you chose a paper topic and determined your research questions, you conducted preliminary research to stimulate your thinking. Your research proposal included some general ideas for how to go about your research—for instance, interviewing an expert in the field or analyzing the content of popular magazines. You may even have identified a few potential sources. Now it is time to conduct a more focused, systematic search for informative primary and secondary sources.

    Using Primary and Secondary Sources

    Writers classify research resources in two categories: primary sources and secondary sources. Primary sources are direct, firsthand sources of information or data. For example, if you were writing a paper about the First Amendment right to freedom of speech, the text of the First Amendment in the Bill of Rights would be a primary source.

    Other primary sources include the following:

  • Research articles
  • Literary texts
  • Historical documents such as diaries or letters
  • Autobiographies or other personal accounts
  • Test information for reliability and validity, and reject where contradictory or ambiguous
  • Reliability will first be check by the author. If the author is an experienced or established author, the source is generally more trustworthy. The next would be the type of source. Magazines, news papers, blogs are not reliable sources. Government websites, factual books, encyclopaedias are reliable.

    Validity

    To check the validity of information the business will check:

    Publication Date

  • Regardless of whether you’re getting your information online or offline, the publication date will play a role in its validity. Some subjects will never change over time. You can easily look up information regarding historical events or the arts and see factual information even in older books and websites.
  • Sources

  • As you review information you know isn’t first-hand knowledge, look for its sources. Not all authors list their sources; when they don’t, that might be a red flag, and when they do, it gives you the opportunity to validate it, as questionable sources are another red flag.
  • Credentials

  • Anyone can produce information, but that doesn’t make them…
  • ...

    Assessment task 1 – BSBINM601
    Last updated: Feb 2024

    Page 2

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