Milestone 2 - 6 pages - 48 hours

Introduction

This individual Project is responsible for making sure the culture of the company is maintained by keeping an eye on what staff are doing. The CIGO is responsible for developing, implementing, leading, and managing an organization's information governance strategy. There is a lot of data that retail businesses have to deal with, both public and private. Sam Walton founded Walmart in Arkansas, the United States, and it now has operations all over the world (McMillon, 2017). More than 12,500 retail outlets serve 260 million people each week in 28 countries, making Walmart one of the world's largest and most dynamic corporations (McMillon, 2017). Walmart is a non-profit company that aims to connect small-scale farmers to contemporary markets by promoting collaboration. Walmart's primary goal is to satisfy the needs of its consumers, and this is achievable through strategic management and effective organizational culture of customer satisfaction and needs. They choose for efficient transportation of commodities and modular data storage. To keep track of inventory, boost sales, and streamline operations, Walmart needs an information system. Beginning with a small shop that brought farmers and customers together, Walmart has grown into a global retail powerhouse (Elder, 2019). Thus, accommodating information governance and utilization for Walmart for effective performance and customers’ needs satisfaction is an underscoring aspect of the project.

An outdated information system at Wal-Mart needs an upgrade to handle a greater volume of data. They employ customer relationship management (CRM), electronic data interchange (EDI), and radio frequency identification (RFID) to engage with customers, transmit data externally, and monitor products. To make transactions as simple as possible for its consumers, Walmart also makes use of transaction processing systems (TPS). Additionally, Walmart utilizes a wide range of technologies, including the usage of a website for the convenience of shopping, an application for a pre-order of items that can be picked up at local stores, and home delivery of goods (Barragan, 2019). Employees are expected to comprehend the value of information governance (IG) via the CIGO, which also shares the company's mission and vision. Board members, CEOs, and other high-level managers consult with the CIGO to develop policies and procedures, which the CIGO then oversees across the company. Board members, executives, and group employees must work together and adhere to the IG to effectively handle information.

By improving performance, boosting the company's value, and safeguarding the interests of shareholders, information governance enables multinational corporations like Walmart to compete successfully across borders (Barber, 2018). Leading to a shortage of technology progress, Walmart had difficulties integrating the IG from the beginning. A customer relationship management system (CRM) was put in place to deal with the influx of new client data, reduce errors, and keep things organized. The structure and principles provided by IG helped the company adapt to the shift. It acted as a road map for the company in terms of educating its workers on the new technology. TPS, RFID, and EDI are new technologies that have been deployed recently, and training staff on these new technologies enhances their self-confidence and helps them perform better. Management of healthcare and access to data is also part of the CIGO's responsibilities. When IG is properly implemented, better and more efficient outcomes may be produced.

The Walmart Company has accommodated significant information governance and management practices that constitute multi-dimensional articulations toward comprehensive information governance and decision-making. Specifically, data policies regarding information management for the Company constitute global record management, global data governance, data roles and responsibilities, classification of data, data sharing, and data products for effective IG management for the organization in ensuring the obligation of stakeholders, and customers and organizational culture towards performance. For example data, sharing enables Walmart to understand effective data management practices including data collection, processing analysis, and transmission from one point to another accommodating significant privacy and security concerns towards effective consumer protection and privacy concerns in data sharing. According to the author, information governance is an integrative platform and task that requires a multitasking force and stakeholders to ensure comprehensive information management and execution in providing an effective platform for information governance (Saffady, 2015). Similarly, Walmart has accommodated specific information management and governance policies such as control and monitoring, risk assessment, training, Cybersecurity, and effective information governance. Specifically, the Walmart information security program resonates and accommodates the fundamental framework of NISTFIC that provides an effective platform for secured information management. Therefore, Walmart will be an effective organization to describe the change in information governance and data security.

Despite notable strategies in Walmart's information governance and management framework, there are notable information governance challenges that prompt the need for the project in challenges with information governance in industries. There are notable challenges including data management, electronic discovery, security and privacy issues, compliance and regulations, effective data storage management, defensible disposition, and productivity that Companies like Walmart should put into consideration for effective information governance challenges management. Currently, Walmart uses customer relationship management (CRM), electronic data interchange (EDI), radio frequency identification (RFID and transaction processing systems that needs an upgrade to counteract challenges to information governance as the main objective of the project.

References

Barber, D. (2018). Rule of Logistics: Walmart and the Architecture of Fulfillment by Jesse LeCavalier (review). Technology and Culture, 59(4), 995–997. https://doi.org/10.1353/tech.2018.0112

Barragan, S. P. (2019). Information governance maturity model: Should retention be rethought?. In Diverse Applications and Transferability of Maturity Models (pp. 92-119). DOI: 10.4018/978-1-5225-7080-6.ch004

Elder, S. (2019). The impact of supermarket supply chain governance on smallholder farmer cooperatives: the case of Walmart in Nicaragua. Agriculture and Human Values, 36(2), 213–224. https://doi.org/10.1007/s10460-019- 09911-8

McMillon, D. (2017). Reflection on what we’ve Built: Walmart’s Global Ethics & Compliance Program. Retrieved from https://corporate.walmart.com/globalresponsibility/global-compliance-program-reporton-fiscal-year-2017

Saffady, W. (2015). Records Management or Information Governance? Rim fundamentals. https://magazine.arma.org/wp-content/uploads/simple-file-list/2015_04_records_management_or_IG-Saffady.pdf