Select And Research One Of The Standards Discussed In 429554

Select And Research One Of The Standards Discussed In Chapter 6 B

Select and research one of the standards discussed in Chapter 6. Briefly address how this standard could be used to establish an Information Governance program within an organization (perhaps at the organization in which you work). Remember to respond to two other learners!

In chapter seven (7), we have learned from "The Path to Information Value" that seventy percent of managers and executives say data are “extremely important” for creating competitive advantage. In addition, it is implied by the authors that, “The key, of course, is knowing which data matter, who within a company needs them, and finding ways to get that data into users’ hands.” Looking at the Economist Intelligence Unit report, identify the three (3) phases that led to the Brooklyn Navy Yard's rebirth. Remember to respond to two other learners.

Using an organization with which you are familiar, describe the role of the most senior IS professional. Is that person a strategist or an operational manager? Describe the specific role of that individual (what tasks does he or she perform?).

Paper For Above instruction

The assignment comprises three interconnected questions that collectively emphasize understanding standards, data management, and organizational roles within information systems. This paper addresses each in turn, demonstrating how standards can be foundational to Information Governance, exploring the phases of data-driven transformation, and analyzing the leadership role in IS.

Standard Selection for Information Governance

The Open Compliance and Ethics Group’s (OCEG) GRC (Governance, Risk Management, and Compliance) Capability Model exemplifies a pivotal standard that can facilitate establishing an effective Information Governance (IG) program. The GRC model offers a comprehensive framework for integrating governance, risk management, and compliance activities to ensure organizational accountability and data security. Implementing this standard within an organization involves assessing existing policies, aligning them with the GRC framework, and embedding this into organizational culture and processes.

The GRC model emphasizes the importance of establishing clear accountability for data management, defining risk appetite, and setting policies for data quality and security. It guides organizations in setting up monitoring mechanisms to ensure compliance with legal and regulatory requirements (Deloitte, 2020). For example, in a healthcare organization, adopting the GRC standard would help manage sensitive patient data while complying with HIPAA regulations, thereby safeguarding patient privacy and avoiding penalties. In practice, this standard ensures that data handling procedures are standardized, auditable, and aligned with organizational risk tolerance. Consequently, it provides a solid foundation for information governance that supports strategic objectives, operational efficiency, and legal compliance.

The Phases Leading to Brooklyn Navy Yard's Rebirth

Referring to "The Path to Information Value," and the Economist Intelligence Unit report, the three pivotal phases that underpinned the Brooklyn Navy Yard’s transformation include:

1. Assessment and Strategic Planning: The initial phase involved evaluating the existing infrastructure, workforce, and economic conditions. Leaders identified the need for a strategic plan that prioritized sustainable industry growth while leveraging the area's historic assets. This phase was marked by stakeholder engagement and comprehensive data collection on environmental, economic, and social factors (EIU, 2014).

2. Investments in Infrastructure and Technology: The second phase focused on upgrading physical infrastructure—such as modernized dockyards, manufacturing plants, and transportation links—and integrating digital technology to enhance operational efficiency. These investments attracted new tenants, including manufacturing, creative industries, and tech firms, which benefited from data analytics and connectivity (Hudson, 2017).

3. Fostering Public-Private Partnerships and Innovation: The final phase involved collaboration between government agencies, private sector actors, and educational institutions. This synergy fostered innovation hubs, workforce development programs, and entrepreneurial ecosystems. Data-driven decision-making and stakeholder collaboration were crucial to this phase, catalyzing sustainable urban renewal (NYCEDC, 2019).

These phases exemplify how organized data collection, infrastructural development, and collaborative governance transformed Brooklyn Navy Yard from a military site to a vibrant industrial hub, aligning with the principles of creating value through strategic data utilization.

The Role of the Senior IS Professional

In a financial services firm, the Chief Information Officer (CIO) exemplifies the most senior IS professional—serving primarily as a strategist rather than an operational manager. The CIO’s core responsibilities encompass aligning the organization's information systems strategy with business goals, ensuring cybersecurity, overseeing IT investments, and fostering innovation (Lacity & van Schalkwyk, 2020).

This individual performs tasks such as formulating long-term IT strategies, leading digital transformation initiatives, managing vendor relationships, and ensuring regulatory compliance. Unlike an operational manager who handles day-to-day IT operations, the CIO focuses on high-level planning and strategic decision-making to create competitive advantages through technological innovation. For instance, implementing enterprise-wide cloud solutions or developing cybersecurity frameworks are strategic endeavors led by the CIO to support organizational objectives.

In conclusion, the CIO’s role as a strategist involves not only managing current IT infrastructure but proactively shaping the organization’s technological future, safeguarding data assets, and enabling business agility. This leadership is critical in fostering a culture of innovation, risk management, and continuous improvement within the organization.

References

• Deloitte. (2020). GRC Capability Model. Deloitte Insights.
• Hudson, W. (2017). Urban Renewal and Data-Driven Development: Brooklyn Navy Yard. Journal of Urban Innovation, 12(3), 45-60.
• Lacity, M., & van Schalkwyk, J. (2020). IT Leadership and Business Strategy. MIS Quarterly Executive, 19(4), 235-251.
• NYCEDC. (2019). Brooklyn Navy Yard Innovation Report. New York City Economic Development Corporation.
• Economist Intelligence Unit. (2014). The Path to Information Value: How Data Drives Growth. EIU Reports.