State the relationship between Information and Decision.

Open in App

Solution

As a system, every organisation accepts inputs and transforms them into outputs. All organisation system pursue certain objective through a process of resource allocation, which is accomplished through the process of managerial decision - making . Information facilitates decision regarding allocation of resources and thereby assists an organisation in pursuit of its objective .

Suggest Corrections

Similar questions

Q. An organisation is a collection of interdependent decision- making units that exists to pursue organisational objective . In the light of this statement, Explain the relationship between information and decision . Also explain the role of transaction processing system in facilitating the decision - making process in business organisations.

'An organisation is a collection of interdependent decision-making units that exists to pursue organisational objectives'. In the light of this statement, explain the relationship between information and decisions. Also explain the role of transaction processing system in facilitating the decision-making process in buseness organisations.

‘An organisation is a collection of interdependent decision-making units that exists to pursue organisational objectives. In the light of this statement, explain the relationship between information and decisions. Also explain the role of Transaction Processing System in facilitating the decision-making process in business organisations.

Q. Identify the option whose decision making is flexible and informal.

Q. Business research helps management in making better decisions. Relevant information about consumers, employees, or competitors might be good to have, but its value is limited if the information cannot be applied to a critical decision. State whether true or false.

Join BYJU'S Learning Program