Information Based Decision Making

3396 Words14 Pages
Information Based Decision Making Terms of Reference .................................................................................................... 3 1. Be able to identify and select sources of data and information ............................ 4 Data and Information .............................................................................................. 4 Characteristics of Good Information ............................................................................... 6 Sources of Information ................................................................................................... 9 Nature of Information...................................................................................................... 9…show more content…
STRATEGIC LEVEL At this level managers are largely concerned with long-term organisational planning. Decisions tend to be unstructured and are made infrequently. However, the decisions made at this level are likely to have a large impact on the organisation as a whole and cannot be reversed easily. An example of this might be a choice of new markets into which to move. At my place of work strategic decisions are mainly made by the senior management team. As a lecturer and course tutor, I would mainly fall into the operational level of decision making and am involved in the day-to-day planning and running of my tutor group. Although I am not a manager, as a senior member of the team I am sometimes also involved in strategic and tactical decisions. CHARACTERISTICS OF GOOD INFORMATION LO 1.1 • VALID Information should be valid, as misinterpretations, inaccuracies and misinformation could impact badly on decisions that need to be taken. For example if a lecturer teaching a subject must make sure they using an up-to-date syllabus otherwise the students could be receiving information that is not valid for when they sit their exams. • RELIABLE Information should be obtained from a reliable source to ensure that it is correct, particularly if the information will be used as a starting point for decision-making. For
Get Access