Information management in financial institutions in Botswana

M. Inf.Enterprises are becoming more dependent on information than ever before and, in this new millennium, the survival and success of these enterprises will highly depend on the ability to manage information as a resource for competitive advantage. This study is concerned with establishing the extent to which information management is practiced in financial institutions in Botswana. The main problem under investigation is the importance of information management within an enterprise and to ascertain how information can ensure competitive advantage in an enterprise. In the first four chapters, a literature survey is done to get a better understanding of what information management is and how information management can transform business and how information management can be used as a source of sustainable competitive advantage. The second part of the study is the empirical survey where qualitative research was conducted on financial institutions in Botswana, including commercial banks and insurance companies. The aim of the research was to determine the status of information management in these institutions as well as to investigate what people generally understand the concept information management- to mean. It was further investigated if at all information management was an issue in the enterprise culture of Botswana and if the concerned institutions regard information management as a source for competitive advantage. Structured interviews were conducted with top management in ten business institutions. The data obtained from the interviews was analysed and interpreted according to the grounded theory. The findings of the research revealed that information management, as a formalised concept, is fairly new to most business enterprise managers, and that there is no common understanding of the concept. It is however evident that most business managers accept the fact that information management is a necessary condition for ensuring the sustainability of their business enterprises. Most of them acknowledged that information is very critical for the survival of the business and for staying ahead of others. It is recommended that enterprises should adopt a holistic approach towards information management. Business enterprises should employ people with proper information management skills and trained personnel in this area