Technology & Knowledge Management Course We are living in an ‘ Information Economy.’ As economies matured & developed from agricultural to industrial & then service & knowledge-based, the demand for information increased. The Industrial Revolution increased the need for information. Manufacturing began to be carried out on a large scale in factories by organised companies. This created a need for information for internal control for managers & on company performance for investors. Today, a modern organisation must produce financial & performance information for investors & managers, regulatory information for government agencies & personnel information as well as information for many other interested bodies, but it needs information to manage & control its operations. The information-intensive needs of managers cover many areas from individual information on specific customers to strategic information for a corporate takeover. Globalisation has increased the need for information by making the management task more complex, often requiring the co-ordination of staff & tasks in different countries. Development of economies has seen the production of more information-intensive & knowledge-intensive products such as computer software. The assets of companies such as Microsoft may be comprised largely of the value that stock markets place on their intangible assets of information & knowledge (intellectual capital). Tom Stewart (1991) describes intellectual capital as, ‘patents, processes, management skills, technologies, information about customers & suppliers & old-fashioned experience.’ Added together this knowledge is intellectual capital. On completion of this module you will be able to: Demonstrate a thorough understanding of the role of information in the business environment. Appreciate the need for skills & knowledge in the use of information for supporting decision-making. Effectively use & evaluate database systems for business decision-making. Develop the ability to specify suitable information systems for effective knowledge management.