Business Management (ICT)

The ICT notes

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  • Created by: Rachael
  • Created on: 10-11-10 20:30

Data and Information

 

  •  Data is facts that have been formally collected
  • Information is data that has been processed into a form that can help decision-making, planning, control and performance.
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The VALUE of Information

  • An organisation must have high quality information, it must be;
  • Accurate
  • Appropriate (fit for purpose)
  • Timely (up-to-date)
  • Objective (free from bias)
  • Available (can be obtained easily)
  • Cost-effective
  • Concise (to the point)

Explain why information must be... (the reasons above)

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The USE of Information

 

  • To monitor and control the business
  • Info can be used to make sure business is running properly
  • Can be used to check progress so that the company can see where the problems are
  • For example; the profit and loss account
  • To Assist in the decision making process
  • Quality information would allow owners and managers to make decisions on setting prices, choosing suppliers, meeting targets, hiring and firing of staff.
  • To Measure Performance
  • You can evaluate how well the business is performing using information gathered
  • To identify New Opportunities
  • In identifying new or changing opportunities to be involved in, you may have to collect written and oral information
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TYPES of ICT

  • PC
  • Blackberry/smart-phone
  • Email
  • Internet
  • Video Conferencing
  • Networks
  • E Commerce
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Costs and Benfits of ICT

Costs

  • Development, installation, maintenance, retraining costs.
  • New skills must be learnt by staff and retraining can be difficult
  • Production will stop during implementation of the new ICT
  • Staff motivation will decrease when workers no longer have to use their own skills
  • Staff do not respond well to change.
  • 

Benefits

  • Productivity increases
  • Reduction in waste
  • Speed of work increases
  • Accuracy is improved - (computers make fewer mistakes)
  • Labour costs decrease
  • communication is improved
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SOFTWARE

 Word Processing

  • application that allows users to type and edit text
  • create memo to staff, write letter to customers.

Desk Top Publishing

  • application allows user to create page layouts using text and pictures
  • Create leaflet, poster.

Presentation software

  • used to create presentations, quizzes, information points and other multimedia products.
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LAN and WAN

 

LAN - Local area network - covers small area, such as a building (school)

WAN- Wide area network - covers geographical area (Internet)

  • Files can be shared easily between users
  • Data is easy to back up as all the data is stored on the file server
  • Viruses can be spread to other computers throughout a computer network
  • Danger of hacking. Security procedures are needed to prevent such abuse (e.g. firewall)
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Sources of Information

Primary information

  • researched by people inside the business
  • used for business own purpose
  • collected by observation, interview, returned questionnaire
  • Its fit for purpose
  • However; may cost lots of money to collect
  • researcher may be bias (loaded question)
  • pressured into saying you like it.

Secondary information

  • gathered from published sources
  • books, newspapers, the Internet
  • e.g. hair magazine
  • usually less expensive
  • unreliable, could be inaccurate
  • competitors can access information
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Sources of Information

Internal information

  • Data taken from records within a business
  • financial statistics, previous sales figures, customer databases
  • Trends can be identified
  • Past performance can be looked at and interpreted in order to predict future performance
  • May be irrelevant or out of date
  • competitor may also be able to find it (PLC &LTD)

External information

  • Gathered from outside sources such as the government and competitors
  • info on PESTEC factors can be gathered
  • broader range of opinion
  • may be out of date and available to others
  • will be expensive and time consuming to gather
  • may have bias
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TYPES of information

Written

  • form of text - report (can keep on file)

Pictorial

  • Form of pictures and photos - health and safety poster (make people more aware)

Graphical

  • Form of graphs and charts - sales figures

Numerical

  • form of numbers - financial predictions (spreadsheet)
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Quantitative Info and Qualitative Info

Quantitative info

  • measured information expressed numerically
  • helps analyse information and make predictions

Qualitative Info

  • descriptive information, involves opinions or making judgement on something
  • allows business to find out peoples opinions on their product
  • May be bias and difficult to analyse
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