Types of Information Useful in Businesses

Types of Information Useful in Businesses

  • Submitted By: HALA1990
  • Date Submitted: 02/22/2009 2:47 PM
  • Category: Business
  • Words: 359
  • Page: 2
  • Views: 650

There are many types of information which businesses found very useful, for their operational, tactical and strategic use. It can help the business monitor its activities on how they are analysing, co-ordinating and forecast their businesses in order to stay successful and also to create competitive advantages.

Strategic information

It is the process of specifying the objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies and plans to achieve the organization's objectives. Strategic management, therefore, combines the activities of the various functional areas of a business to achieve organizational objectives. It is the highest level of managerial activity, usually formulated by the and performed by the organization's

Organizations today face more competition than was the case even a decade ago. A successful business relies on the right combination of organizational resources working together in a dedicated effort to penetrate and achieve leadership in the marketplace, and information is such a resource. The identification and use of information play a large role in an organization's achievement of competitive advantage. Organizations most efficient in gathering, processing, and distributing information - as well as using it to make better business decisions - will enjoy an edge in achieving success.
Where records and information managers have traditionally concentrated on the evidential qualities of records, they are now realizing a greater interest in the informational content of records that can be used for decision making and action.
strategic information is clearly information that can be used to develop a plan for success and is integral to such a plan. An information strategy is a plan for dealing with information successfully.

strategic information management has been used by different groups at different times with different meanings, notably by the information...

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