Answer to Question #181083 in Management for Elizabeth

Question

Organizations may obtain either from an internal or external source.briefly describe any four sources of external information and any four sources of internally generated information.elaborate on the nature of information required at each of the managerial levels

Answer 1

Organizations may obtain either from an internal or external source. Briefly describe any four sources of external information and any four sources of internally generated information. Elaborate on the nature of information required at each of the managerial levels

Four Sources of External Information

External information includes customer surveys that encompass feedback from questionnaires, media, including reviews from the internet and broadcast, speeches from shareholder meetings and professional meetings, and the company’s website where customers send their reviews.

Internally Generated Information

Internally generated information encompasses that given by employees within the company, signs that direct customers to a particular place, saved demographic data about the trends and preferences of the customer, and company monthly financial reports about goods, services, losses, profits, and payments.

Nature of Information Required at Each of the Managerial Levels

Operational information is required at lower levels of management. It includes information about cash position daily and marketing function (Volpi, 2017). Tactical information assists middle-level management. It included information about alternative sources of funds and their uses in the short run. Strategic information is used by top managers to define goals and priorities. Include information on funds for ongoing and future projects.

 

References

Volpi, M. (2017). Sources of information for innovation: the role of companies’ motivations. Industry and Innovation, 24(8), 817-836.