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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

How do the information requirements of managers differ by management area?

Summary Introduction

To determine: The ways information requirements of managers differ by management area.

Introduction: Information requirement are those types of data with respect to the enemy and the condition that should be gathered and prepared keeping in mind the end goal to meet the knowledge necessities of an authority.

Explanation

The ways information requirements of managers differ by management area are as follows:

  • Financial managers: Financial managers clearly are most worried about their organization's accounts. They contemplate its debts and receivables, income, future funds requirements, financial statements, and other accounting data. With equivalent significance to financial managers is data about the current situation with the economy, financing rates, and expectations of business circumstances later on.
  • Operations managers: Operations managers are worried about current and future sales points, current stock levels of work in process and completed merchandise, and the accessibility and cost of the resources required to manufacture goods and services. They likewise should stay up to date with any inventive manufacturing knowledge that may be helpful to the firm.
  • Marketing managers: Marketing managers are required to cover comprehensive information about their company's goods and the goods offered by contenders...

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