...How Information Is Used and How It Flows In an Organization Student’s Name Class Title Due Date Instructor’s Name How Information Is Used and How It Flows In an Organization Information flows in different directions and different means: formally and informally, downward, upward and even horizontally through various levels. According to Opara, “information is the life blood of modern organizations” (Opara, 2003). Without “information”, organizations would most likely collapse as information is required to run the day-to-day doings of a business. Olowu states that “information entails data, facts, imaginations, ideas, opinions and cultural values in a variety of media which includes print, audio-visual materials and electronic processes” (Olowu, 2004). This shows how information flows within and between cultural groups. This represents an important part of “alternative conceptualization” (Nissen, 2002), which focuses on transaction (e.g. data to information, information to knowledge). This means data is necessary to produce information which, in turn, is necessary for creating knowledge that is conveyed (e.g. via paper, network, speech and observable action). And C.C. Aguolu feels that information is “the message of human experience” (Aguolu, 2002); rather, what is basically a stimulus assumes a response in the receiver, and possesses a response itself. This message can be made in any medium, in any language or in any subject. Some psychologists have even described...
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...of Phoenix INFORMATION USE PAPER IT/205 Ivy Chiangwa Matthew Juliana April 24, 2015 This paper will discuss various aspects related to how information is used and how it flows in an organization. I will try to gain further insight by identifying the information flow in my current place of employment. Other than discussing the use of information, this paper will also discuss the various challenges in controlling the information flow and how can organization keep it safe from unauthorized use. Information flow and use in an organization It is important to first discuss information before describing its uses and how it flows. Information refers to data that has been organized in a way to give meaning and value to the recipient (Rainer & Cegielski, 2011). In an organization, the information can refer to various events, activities in a workplace or various transactions that are recorded and organized to convey a meaning. Information can also be contained in facts, ideas, imagination, opinions which can be present in various media such as print, audio and video (Olowu, 2004). Data is gathered using information systems which further process this data to convert it into useful information. Information is a necessity in every part of the organization such as finance, human resource, management, sales etc. Without information, the organization would collapse since information is the life blood of modern organizations (Opara, 2003). Usually information flows in two ways in...
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...How information is used and how it flows in an organization is as follows: Information in an organization is used for a myriad of different processes throughout an organization. Information flow through an organization is a duplicate image of an organizations activities. Making a model of an organizations activities goes a long way in helping to build an effective strategy for competing in today’s business world. The three things that are generally looked at in the process of information flow is cost, time, and the information path. A break down of these three components is as follows: Cost will show how much the present implemented information processes cost. Time would show us the current speed of information being transferred to the user of said information. IE: how much time it would take for management to receive the right information from say a warehouse, etc. The third component is the path. The path gives information about the size of information flow net elements that information goes through to make it to the information user. These three components are closely relative to each other and therefore make any analysis difficult. Essentially, information runs in a circular pattern. It is very similar to how water flows down a drain in a circular pattern. Once the water is in the drainage line, it goes through a series of pipes, of different sizes and direction. Organizations utilize information in a very...
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...Information Flow in an Organization , information is created for meaning, decision making and sharing of knowledge. Just like a river flowing information flows from one place to another, into every house, school or organization. The flow begins with the creation of the data at a terminal; this is the beginning of the information flow. From there the information flows down the pipeline through the network which is like a pipeline. Within this network of pipes you have the switching and routing of the information flow, like the valves used to push water from one location to another. From there the information flows to storage facilities like large storage facilities, these facilities in a data network are the servers, mainframes are used in conjunction with software to store, collate, and share the data just waiting to be accessed and shared. Once a person turns on the faucet or access the information the flow starts again, from the storage facility to another set of switches/routers or valves. This information is accessed like getting a drink of water. Information flow within an organization is an ever evolving process; it is circular in nature according to its activities. Chesapeake Energy’s information flow starts with the design of the information network or pipeline, network circuits include cell modems, T1 and fiber circuits. From here the routers and switches are put in place to send the information to the right storage facility or server. Software is created to determine...
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...Information at Work Information at Work Have you ever wondered if information is useful in day to day life? Information is used every single day by everybody. Whether it is information used by a single person, or information that is used by organizations, it is useful every day. Information is used both formally and informally within my organization. Information flows through various methods including verbal and non-verbal methods. In the restaurant I currently work for, we receive information from many different resources including customers, corporate offices, the internet, the owner of the restaurant and many other sources. Information that comes from the customer is often the most valuble information within the restaurant. This is usually information that gathered from the opioions and comments of the customer. We use comment cards, and send customer survey requests for those who provide their email address. This information is used to gather information on how well a product is doing, and also helps us to know how the food is being prepared by the cooks. Information is very useful within the business; it helps to keep the business process flowing. Another major way information is used within the organization is through advertising. Information is dispersed from the business to the advertiser and to the potential customers. This is information dispersed through the use of radio, paper, and electronic methods. After customers order and use specific codes heard...
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...from Withdrawals and Net Loss c. Balance Sheet vi. “Statement of financial position” vii. Lists all Assets, liabilities, and owns viii. As of a specific date + d. Statement of cash flows ix. Cash receipts and cash payments 2. Describe how changes to a company’s revenue and expenses affect their Income Statement and Balance Sheet. Revenues & Expenses on the income statement affect the Net Income, by increase whith revenue and decreasing with expenses. All of which effect the Owners Equity on the balance sheet. 3. How do changes in the Income Statement and Balance Sheet data affect a Statement of Cash Flows? Revenues in the form of payment receipts and expenses in the form of payments are both reflected on the cash flow statement from operating activities which are derived from the P&L. Cash flows from investing activities are which increase or decrease the cash flow come from the balance sheet. 4. Explain how you can evaluate the financial condition of a firm by reviewing the Balance Sheet. To discover the total entities assets, liabilities, and owners equity. By using the current ratio (total assets/ total liabilities) which shows the financial health of a company by determining how quickly, if at all, a company can pay it’s liabilities. If a company has a current ratio of 2.56 then they have a 2.5x the assets to liabilities, therefore can pay all it’s liabilities if needed. This is a good indicator if...
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... Courtney Wilson Financial Statement Paper In any business or organization that is established there has to financial records kept consistently to be as follows; (1) compliant with federal business laws, (2) in accordance with Internal Revenue Service, and last no fraudulent reporting in profit gains. In this paper I will attempt to explain the four basic financial statements, describe their purpose, and the usefulness to both external and internal users. The four basic financial statements of any company or organization are as follows; (1) the income Statement, (2) retained earnings, (3) balance sheet, and (4) statement of cash flow. These statements are usually prepared at a specific time of the year, either on a monthly, quarterly, or yearly basis (Lewis, 2009). . The Income Statement basically shows the fees earned minus operating expenses to show if the company o organization is profitable. The Income Statement uses what we call a matching concept, which is, seeing if the expenses are matched with the revenue that is generated in the same time period as the expense. If the records show that the earning fees are more than the operating expenses, then the company or organization has definitely generated a net profit. However, if the operating expenses are greater than the earning fees than we can consider that company has a net loss The Retained Earnings Statement provides information based on previous income distribution to the owner and shareholders in the...
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...Information Use Information Use Information can be used in a variety of ways in today’s world. Companies use it to track profits and losses others use it to see into future trends so they can make informed decisions about where their business should be in a certain market. According to Opara (2003) “Information is the life blood of modern organizations.” Without information organizations would be making decisions blind. Information in a modern organization flows in a circular motion. For an example of how a major car dealership uses information it gathers. A customer who is prospecting for a new vehicle enters a car dealership not sure of what kind of vehicle he or she may want. An associate greats the new customer and asks a few question to discover what the customer is looking for. This would be the input information that the associate will use to enter into an information system (IS) from this system the associate can help the customer choose what vehicle he or she may be looking for. The information is presented to the customer, after looking at the information the customer chooses a vehicle he or she wants to purchase. The associate inputs his or her personal information into an IS to qualify the customer for financing the vehicle. The information is used by the finance department to set up the financial obligation that the customer will have to pay. Once again the information is cycled back to the customer for his or her input. After the sale of the vehicle the information...
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...In today’s society, businesses and organizations complete various financial statements that will inform management, creditors, and investors of its financial status. Corporations complete financial statements, such as the income statements, balance sheets, retained earnings statement, and statement of cash flows on a monthly or annually basis. Financial statements must indicate true, accurate, and precise information according to the rules and regulations mandated by the United States of America government. Management, creditors, and investors review the financial statements that will provide him or her with precise information to answer his or her questions. Income Statement When businesses and organizations want to identify how the company is operating for a certain period of time the business or organization will complete an income statement. According to Kimmel (2009), the income statement identifies a business or organization’s revenues and expenses; the expenses are subtracted from the revenues, which determine the company net income or net loss (p. 12). A business or organization revenue is the income the company made through sales or services rendered. The company expenses are the costs to produce and sell a product or service (Kimmel, p. 11, 2009). The income statement is used to determine if a business or organization is successful or unsuccessful. In addition, the income statement would be of most interest to investors, creditors, and management. The income statement...
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...Information Flow and its use in Business Organizations John J. Miller II CIS 207/Information Systems Fundamentals University of Phoenix Information Flow and Business Use Historically information flowed into organizations via many different methods, and often still is, and was very difficult to access, verify, and otherwise use the information simply because many of the systems in place did not communicate with each other. The purpose of this paper will be to briefly describe how information moves into, around, and out of an organization and why that information is important to the organization. I will also discuss how this information is safe guarded from unauthorized use. Information “Information refers to data that have been organized so that they have meaning and value to the recipient.” “Data items refer to an elementary description of things, events, activities, and transactions that are recorded, classified, and stored but not organized to convey any specific meaning.” (Rainer, Cegielski, 2011, pp. 13) The purpose of Information Systems (IS) is to gather data from various sources and compile it into information that is of use to the person requesting it. As stated above though, this has not always been the case. In the matter of Executive Information Systems (EIS) data was not outputted into a standardized format, and it was extremely difficult to generate customized or ad hoc reports. Information Technology (IT) architecture...
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...Information Use Crystal Mays-Hammond IT/205 July 27, 2014 Juan Vega Information, an essential asset for organizations, is always difficult to manage effectively—and it is even more so in periods of economic turmoil and transition, when complexity increases and the stakes are higher. For the past decade or more, organizations have been striving to build more open and collaborative relationships with their customers, partners, suppliers, and other stakeholders. When the recession took hold, many such initiatives took a back seat as cost-cutting became first priority. Organizations collect and distribute information. An organization uses information strategically in three areas: to make sense of change in its environment; to create new knowledge for innovation; and to make decisions about courses of action. These apparently distinct processes are in fact complementary pieces of a larger canvas, and the information behaviors analyzed in each approach interweave into a richer explanation of information use in organizations. Through sense making, people in an organization give meaning to the events and actions of the organization. Through knowledge creation, the insights of individuals are converted into knowledge that can be used to design new products or improve performance. Finally, in decision making, understanding and knowledge are focused on the selection of and commitment to an appropriate course of action. By holistically managing its sense making, knowledge building...
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...sufficient data Data is generally used by machines Data is useless unless it is process to create information Information: Processed data Data process by machines giving information Information is used to run an organization efficiently Information used by managers to initiate actions TYPES OF INFORMATION Operational Information - used to day to day operations Example information needed by a shopkeeper: Daily sales account List of low stock items to be re-ordered List of overstock items Long overdue payments Profit loss account Tactical information - used to improve profitability Example information needed by a shopkeeper: Slow or fast moving items Reliable supplier of items Sales trends Strategic Information - information to expand business and explore new opportunities Example information needed by a shopkeeper: Whether to stock different varieties of items Whether to diversify Whether to start a new branch in a different locality Whether to start an e-shop Statutory Information - used to provide information to the government Example information needed by a shopkeeper: Income tax account Sales tax account MANAGEMENT HIERARCHY AND INFORMATION NEEDS QUALITIES OF INFORMATION Accurate Complete Timely Trustworthy Relevant Brief Up-to-date SignificanceEnsure correct input and processing rules Include all data Give at the right time Do not hide unpleasant information Understand user needs Summarize relevant information Include all data up to present...
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...Financial Statements 1. List the components that comprise a typical financial statement. Income statement, statement of owner equity, balance sheet, statement of cash flow 2. Describe how changes to a company’s revenue and expenses affect their Income Statement and Balance Sheet. Income statement presents the summary of revenues and expenses for a period of time. Changes in these two entity’s will affect the report of the company net income and net loss. 3. How do changes in the Income Statement and Balance Sheet data affect a Statement of Cash Flows? The statement of cash flows reports the cash coming in and out during a period which is supported by the balance sheet data and the income statement date of specific date. The order of financial statements are income statement, statement of owner’s equity, balance sheet, and statement of cash flows. 4. Explain how you can evaluate the financial condition of a firm by reviewing the Balance Sheet. The balance sheet is a snapshot of the business at a specific date that showcase the company assets, liabilities and owner’s equity. 5. How can you determine the contribution margin from an Income Statement? Perform a breakeven analysis. This give information for the decision making purposes. 6. How is a horizontal and vertical analysis calculated? Horizontal Analysis – 1. Compute the dollar amount of change in sales from Year 1 to Year 2. 2. Divide the dollar amount of change b the base-period amount. This computes...
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...How Information Is Used How Information Is Used The role of an organization is to collect and distribute information. No matter the type of business or organization, information is a key component in its success. Each portion of an organization: management, billing, etc. information needs to be provided to each one separately, as well as information that needs to be shared. Information is considered to be what is known beyond random chance predictions. Information must surprise and reduce the uncertainty from recipient. In this day in age, computers and information processing are everywhere. The use of computers influences when decisions are made, as well as what decisions are to be made. The use of computers also affects how a business is organized, and how an employee feels about their job. Basically, information processing and computing can be pervasive. Information in an organization flows in two major ways: Vertically; where the information flows up and down between managers and CEO’s, General Managers, etc. Information also flows horizontally, where the information is shared between each department in the organization. A great example of this would be in department stores; each department may have their own marketing, and sales; however, they do need to share their information to avoid any confusion. In my line of work, the proper use of information and how it flows, is extremely important; Life or death important. Each morning I head to my sister-in-laws house...
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...financial information within the context of your organisation. You are then asked to explain the process of budget setting in the organisation and how budgetary techniques are used to contribute to controlling cost in your own area of operation.If you are not currently working within an organisation, then you may complete this task in relation to an organisation with which you are familiar. This could include experience working in a voluntary capacity.The tasks you need to undertake are:- * read all the questions * complete the learning activities associated with this course * discuss the assignment with your coach at your tutorial * complete any other activities that you need to undertake for your assignment * answer the questions in the spaces provided Here are some tips on completing the assignment, based on submissions from previous students: * make sure you read and answer all the questions! Even the most accomplished writers have fallen down by providing answers that are exceptionally well written – but well off the mark. This is usually because they have not gathered a full understanding of the questions before embarking on the answer. * read the assessment criteria on the next page. They are built into the questions, but it is useful to know the detail against which your work is being assessed * use a combination of your own observations, the course materials and other readings when answering questions. * make sure you follow the guidance on how to achieve...
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