The Importance Of Making Valid Decision And Strategizing On Business, Polity And Market Front Essay

Information Management has to do with capturing information, efficient planning, organizing and evaluating the information to interpret for an organization to make well informed decisions. (Hinton, 2006) The main reason organizations depend on information is to improve its overall management in

The recent trend in the global business has been largely driven by the mechanism of the internet and more broadly the cyberspace. This has created a more elaborate platform for all business activities to be coordinated through an information system protocols. The information system is the management of the information data base of an organization or an institution. Information is assumed to be a significant asset, organisations strive to gather, retain and protect their valuable intellectual property to place them in a prominent business platform over their competitors.

It’s not data, it’s competitive intelligence.  Information is competitive intelligence that drives strategic business decisions.  Decisions that are made by global organization with the power to change the world.

Information is the key to any organization in the world today; it is what makes an organization successful, accurate and proficient in an increasingly competitive market. Without information a company is powerless, it does not know its customer or understand them,

Dissimilar sources plan altered steps involved in the planning process, but in this case I will discuss on seven steps that are involved in the entire process. The first step is goal setting. This basically involves coming up with the main objectives and goals that the company wishes to establish within a particular period of time. It is a very important section because the company will operate with a view of the goal in mind, if it is not clearly established, and then the business could lose direction along the way. After goal setting, we have development of the planning premises, where the plans are prepared and any underlying conditions defined. This is where there is an assessment of the environment and any constraints or

Information theory is the modern theory of organization that views organizations as requiring constant input of information in order to continue functioning systemically and productively; assumes that a lack of information will lead to chaos in organizational operations (p.165). Decision making includes making a choice to alter some existing condition, choosing one course of action in preference to others, expending some amount of organizational assets or individual resources to implement the decision, and acting with the expectation of gaining something desirable (p.194). Things that are important to the decision-making process includes increasing potential gains, monitoring the ongoing decisional process, and reducing the resource expenditure, uncertainty, and risk involved in achieving whatever gains are made (p. 195). Through every carefully thought out decision the government makes on behalf of its citizens there are risks involved. A risk involved in routine decision making is that decision makers may fail to perceive a need to reconsider existing policy or program assumptions on which routine decisions are based (p.195).

Meeting information requirements of management is a key focus for many organizations. Companies are constantly looking for ways to improve how they manage information. Information is essential for any decision making process and day-to-day operation. Therefore, it is important that information is managed and disseminated properly throughout the organization. Management use information to establish policy and strategic planning.

IT (Information Technology) management entails all the routine issues faced by any type of business manager in addition to the issues of software development, technology purchasing (not necessarily physical items), systems integration, the limits of technology and the related budgetary issues. General information literacy is important for any level of IT manager, as he or she needs to communicate successfully using many different modes, media, and technology with all types of IT workers, upper management, and technology product vendors. IT management also entails leadership of projects or departments. Information

3 1.1. 1.2. 1.2.1. 1.2.2. 1.3. 1.4. Data and information as source of management information ............................................................... 3 Gathering management information and making decisions ................................................................ 4 Environment Scanning ...................................................................................................................... 4 Management Information and Decision Making .............................................................................. 5 Managing Information Systems at DTZ ............................................................................................... 6 Strategic Importance of Information management at DTZ................................................................... 7

Organizational behavior helps managers to improve the organization in a good way. Decision making process is the one of the behavior in human organizational behavior. According to McShane and Von Glinow (2000), “decision making a conscious process of making choices among one or more alternatives with the intention of moving toward some desired state of affairs”. Decision making is a linear process and it includes six steps such as identifying the problems, gather and evaluate data, list and evaluate alternatives, select best action, implement the decision and getter feedback (refer to Figure 1 in Appendix 1).

Thinking critically and making decisions are important parts of today’s business environment. It is important to understand how the decision making process works and the steps involved. The nine steps of the decision making process are: identifying the problem, defining criteria, setting goals and objectives, evaluating the effect of the problem, identifying the causes of the problem, framing alternatives, evaluating impacts of the alternatives, making the decision, implementing the decision, and measuring the impacts. (Decision, 2007.) By using various methods and tools to assist in making important business decisions an individual can ensure the decisions they make will be as successful as possible. In this paper it

Inadequate information, data, and knowledge. For rational decision-making to be accurate, reliable, and complete, information about various aspects of the problem under investigation is necessary. Possible future trends can be estimated with the help of such information. This facilitates rational decision-making. However, adequate and reliable information may not be available at the time of decision-making. As a result, the decisions may become defective or irrational or may prove faulty in the course of time. This is how decisions become irrational.

The strategic management process is sometimes improperly perceived as a unidirectional flow of objectives, strategies and decision parameters from management to the employees. In fact, the process should be highly interactive since it is designed to stimulate input from creative, skilled and knowledgeable people working at every level of the business.

The focus of my term paper is the decision making process used by today's top-level managers. Top-level managers, such as Chief Executive Officers (CEOs), Chief Operations Officers (COOs), and Chief Financial Officers (CFOs), must make critical decisions on a daily basis. Their choices and the resulting outcomes affect the company, the employees, and the stakeholders. Due to the high importance of their decisions, the process they use to reach them merits a close examination.

Information is important. It is essential. Club it with technology and it becomes vital. Now, add management to the mix and we have a modern, futuristic way of life. Technology and management, both have been around for years now, but individually. While they are solid on their own, when we bring them together we have a true game changer. My enthusiasm for information technology developed around the time I started studying engineering. My fundamentals were rock solid. And I thought I had found my future, my career, until management arrived. And I became extremely passionate about studying the various managerial aspects of technology along with technical aspects of management. Having a sound base in software