The Value Of Information Coursework Example

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Category:
Management
Level:
College
Type:
MBA
Pages:
1
Words:
275
The Value of Information Student’s Name Institutional Affiliation The Value of Information Information can be defined as facts learned about the sequence and patterns of something. The maximum price paid by a particular person for knowing a certain doubt before making a decision is the value of information. In that case, information sharing is a crucial component of organizations value chain. It helps acquire high-quality products which are then used as raw materials in the organization (Tayur, Ganeshan & Magazine, 2012).On the other hand, visibility involves the objective viewing of organizational activities such as processes, events, and transactions. Information sharing and visibility differ in various aspects. Whereas information sharing helps pass important information through various organizational sections, visibility helps examine activities and make rational decisions. Information sharing enables businesses to get a clear impression of issues which are important to the organization. The information may be related to production, market, sales or value chain. For the case of visibility, processes are analyzed, and their trend, functionality, and outcome identified. This information helps in making changes which promote quality and efficiency in the business. Information sharing is key to problem-solving. Through it, organizations can identify gaps in various areas. Since it is achieved through communication, it helps think critically about issues and formulating tactical measures (Tayur, Ganeshan & Magazine, 2012). These measures are used to achieve organizational targets. Conversely, visibility helps in employing new strategies in the organization. It enables the management to see the effectiveness of certain activities and refine them. Through it, organizations discover the most appropriate culture and adopt it. In turn, this leads to exemplary performance. Even though information sharing is beneficial to organizational supply chain s...
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