The Value of Information- Decision Making

10 Mar

In this blog I am going to discuss the value of information when making important decisions. I will also use the example of a sports club.

Firstly, when making a decision it is imperative that you gather the correct information and analyse it. Only after all this information is collected and analysed can you make the best possible decision. Information is what separates making either a  good decision or a bad decision and I feel this is true in every area of work. Making a rash decision, in business especially, can have drastic effects, e.g causing your company to go bust.

It is very important that sports clubs research relevant information when making decisions for a number of reasons. They need to ensure that the decisions they make will benefit all the members of the sports club. One example of when the club would  need to gather information  is when they are planning trips. It is vital they research all the costs to make sure they don’t over or under charge the members. By doing the research before they make decisions, they can ensure that all decisions are made in favor of the members.

2 Responses to “The Value of Information- Decision Making”

  1. sad111708665 March 10, 2013 at 11:26 pm #

    As seen time and time again on this project, the correct information is imperative :). Communication also needs to be correctly utilised in all I.S. project 😄. Best of luck in your project

  2. sad111510923 March 10, 2013 at 11:48 pm #

    I enjoyed this blog because their was no irrelevant information. Very much to the point 🙂

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