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Managing Communications, Knowledge and Information - Essay Example

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Managing Communications, Knowledge and Information Table of Contents Q. B1 3 Q. B2 4 Q. B3 5 Q. B4 7 Reference list 9 Q. B1 There are several kinds of decisions that every business has to consider at the time of working on a particular project. The various types of decisions include strategic, tactical, and operational decisions…
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Download file to see previous pages With regard to operational decisions, the businesses have to consider the effective utilisation of the tactical decisions such as delivering the products to the customers (McGowan, n.d.). Along with the above discussed decisions, the businesses also have to consider certain important decisions that include short-term operational plans along with long-term strategic decisions. From the perspective of short-term operational plans, the businesses have to focus upon certain decisions regarding the production of goods and services and market planning, which covers both financial and production plans. Additionally, in relation to short-term operational plans, the businesses also have to consider the decisions that include gathering necessary business related information, evaluating the alternatives, and selecting the most effective action courses (Kansal and Rao, 2006). From the perspective of long-term strategic decisions, the businesses need to think about certain significant decisions that include strategic as well as corporate planning. ...
Q. B2 Right flow of knowledge and information are indispensable for every business organisation. The possessing of effective and superior knowledge and information can ultimately enhance the aspect of decision-making, improve the level of competence, and assist the business organisations to attain noteworthy competitive position. The business sectors also need to acquire knowledge and manage valuable information for the purpose of evaluating their probable weaknesses and strengths. In recent times, the aspect of information and knowledge management has become a chief contributory part towards making the business operations of the different organisations quite successful by a considerable level (Rad, et al., 2009). The diverse information and knowledge that are required to take effective decisions fundamentally include ensuring the collection, analysis, and execution of evidences that greatly support and complement the overall functioning of the business and facilitate in organising the relevant information in such a way that it can provide benefits for successful planning. Additionally, the other crucial knowledge and information aspects include the procedure of reviewing along with considering evidences in order to make effective strategic decisions regarding the execution of the business plans and managing the differing desires and requirements of the users along with the suppliers (National Occupational Standards, 2011). In order to ensure successful decision taking, the business organisations should possess certain significant knowledge and information that generally include the analysis of internal data or reports, understanding the characteristics of the customers and other chief stakeholders, business trends, analysis of the available products along ...Download file to see next pagesRead More
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