Information is defined as some tangible or intangible entity that reduces uncertainty about some state or event.
Information used primarily for control in the organization reduces
uncertainty about whether the firm is performing according to plan and budget.
Various factors influence the way in which information is interpreted.
The organization itself affects the interpretation of information.
People who have different ideas interpret information differently.
Personal and situational factors also influence the interpretation of information.
Information can be characterized in a number of ways; some kinds of information
are more suitable for decision making than others.
Knowledge is a strategic resource for many organizations. We can define knowledge
as "information plus know-how".
An important role of information systems is to support
There are various cycles and stages involved in decision making in organizations.
Different types of organization produce different decision making procedures.
Managers work in an information-rich environments and use and communicate information in a variety of ways.