All organisation require information for hes different different purposes. these can be subdivided as follows.
1 Information for Planing
2 Information for Controlling
3 Information for Recording Transactions
4 Information for Performance measurement
5 Information for Decision making
1 Information for Planing
Planning Requires a knowledge of the available resources, possible time-scales and the likely outcome under alternative scenarios. Information is required that helps decision making, and how to implement decisions taken,
2 Information for Controlling
Once a plan is implemented, its actual performance must be must be controlled. information is required to assess. whether there is some unexpected deviation from the plan. It may consequently be necessary to take some form of corrective action.
3 Information for Recording Transactions
Information about each transaction or event is required. Reasons include
(A) Documentation of transactions can be used as an evidence in a case of dispute.
(B) There may be legle requirement record transactions Ex:- For accounting and audit purposes.
(C) Operation information can be built up, allowing control action to be taken.
4 Information for Performance measurement
just as individual operation need to be controlled, so overall performance must be measured Comparisons against budget or plan are able to be made. this may involve the collection of information on, Ex:- Costs, revenues, volumes, time-scale and profitability
5 Information for Decision making
Strategic planing, management control, and operational control may be seen as a hierarchy of planning and control decisions
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