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Functional Classification of Information for Effective Decision Making
As a manager, decision-making is a critical aspect of your role. Making the right decisions can be the difference between success and failure. However, to make informed decisions, you need access to relevant information. Thus, a functional classification of information based on the types of decisions can be useful. Operational, tactical, and strategic are the three types of information that…
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Managerial Decision Making: Information Needs of Managers
A manager performs various functions and requires information to make informed decisions for each area of responsibility. Although there are different types of users of information within a business enterprise, the manager is perhaps the most frequent user of corporate information resources. Different Levels of Managerial Hierarchy Information needs are different at different levels of…
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