In this blog I am going to discuss the importance of time in relation to ” The Value Of Information”.
It is key for an organisation to deliver information on time, when making decisions, to ensure they have enough time to analyse everything and make the best decision. With the company getting early information, they can see what consumers are looking for and this will allow them to make the decision which benefits both the consumer and the organisation. E.g. Creating a new product based on the results of a survey.
Information arriving late can have a very negative effect on an organisation. It could cause the organisation to miss out on becoming a market leader and creating a monopoly because some other firm got their information together quicker and were able to create a product/service which filled the niche in the market.
Another member of my group previously stated in one of their blogs that, ” It is important that duties are performed in the most time efficient manner in an organisation”(sad111510923). They also noted that setting goals and attaching deadlines to these goals was one of the duties. By setting a goal you give your employee a target to reach, normally if the target is reached either before or on time a reward is given. This will motivate the employee to finish the job on time and to a high standard. Eventually the manager will be left with high quality information that has been delivered on time, which will give them the best chance of gaining domination in the market.