Business Organization

In: Business and Management

Submitted By Mvictoria82
Words 873
Pages 4
Management plays a substantial role in how business operates. The variety of methods to the speculative and practical background of management has come up with varieties of what is meant by such key words as management and organization. The required reading outlines three key elements needed in the successful running of a business. The three key elements are Information and decision making, planning process and techniques and strategy and strategic management. The reading covers a general outline of the elements required for a manager to make familiar decisions among alternate courses of action. The reading also lists types of managerial decisions, information competency, and information needs in organization, why managers plan and the planning process and benefits of planning. In the following I will describe the various components that comprise the main aspects of the required readings.
Information, technology and management. Information is basically data that is used when made meaningful in the decision making process. The reading shows how valuable and useful data is and that it is accessible by everyone but not everyone makes data that is readily available to them useful information. When we are able to gather, analyze and use information for decision making and problem solving this is called information competency. In order for companies to have top performance employees should have the right information available to them. The reading outlines information systems. This system is used by IT to collect, organize and distribute data for use in the decision making process. When it comes to decision making, we all know that with management it is an essential part of the job. The reading gives the meaning of the decision making process which is to identify a problem and end with an evaluation of implanted solutions. There are five steps in the decision making…...

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