Question & Answer: What information and knowledge is important to various stakeholders inside and outside the…

Expert Answer

The inside stakeholsers are organization’s employees , key business partners, board of directors etc. The outside stakeholders are customers, vendors, retailers , competitor’s, government etc. The following information and knowledge is important for various stakeholders inside and outside the organization:

1. The various information regarding products and services offered by the organization is very important to the outside customers .

2. The government might ask an organization to disclosure of every material information of public importance to organization’s websites.

3. The internal employees seeks information regarding employment , work policy, their growth and careers development avenues etc.

4. The key Business to Business transaction and any deal of such type requires a lot of transparent information for closure of the deal.

5. The consumer may seek information like health safety and quality standards of products. The pricing , expiry dates etc are general information that every consumer may seek .

6. The investors may seek information while investment like earning per share, growth trajectory, last year trend, net worth, dividend, normal profit , maximum and minimum level of returns, risk factors etc about a particular organization.

Value creation through technology , information and knowledge management:

In modern era, the use of information and technology helps an organization to develop a system of smooth decision making . A sustainable management may be achieved through innovation and by achieving the informational goals.

Information management is also a critical success factors for many organizations in business world. We can see the example of Facebook. Com and twitter , these organizations core competency is to manage information and disseminating of knowledge across the world. The various views about a products or services can be easily achieved.

The value added services now a days focus on personal management of customers. To add value to the enterprise , the IT applications and knowledge management best practices may be integrated .

The main functions of Management like Human resource, marketing, finance, operations , business analytics etc may be enriched through valuable information and key innovative practices. So the success of organization ensured.