Up-To-Date, Accurate and Complete Information and There Needs

Why Managers Need Information

All levels of managers have to make secisions using information obtained from the day-to-day operations as well as from external information, and the types of decisions can be classed under the following headings ; Planning, Directing, Controlling and Forecasting.

The lower layers of management are responsible for:

• the day-to-day management of the operations staff
• allocating work to subordinates
• arrangement of staff rotas, dealing with staff sickness or absence
• motivating staff
• handling a departmental budget

The higher levels of management are responsible for:

• strategic planning - this involves the setting of overall objectives and policies
• market share
• cash flow
• profits
• growth in profits

Information is need to make all the decisions above but the informtion they need and recieve can vary depending on the need for it and the level of the manager. For example, the directors of an organisation would not need informtion on which customers had not paid their bills, but they would need information on projected turnovers and profit for the business.

All information may be classed as a commodity and like all commodities it has a value and may be bought and sold. The monetary value information may have depends on: 

• the accuracy of the information
• the potential and intended use of the information

If information is collected and stored but not used it has no actual value since no decisions will be based upon it so the data is superfluous/unnessary and should never have…