Business Decision Making
Table of Contents Information Processing Tools 3 Strategic, tactical and operational information 3 Examples of strategic, tactical and operational information relevant to a Banking sector 3 MIS and its relevance in an organization 4 Project plan for an activity and determine the critical path 5 Financial tools for decision making 5 Project Planning Steps 5 Bibliography 6
Information Processing Tools
Strategic, tactical and operational information
Strategic planning refers to the process through which an organization defines its strategy, allocate its resource and lead the direction that the company will follow to achieve its goals.
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information is an arrangement of people, data, process, and information technology that interact to collect, process, store and provide as output the information needed to support an organization," which indicates that information system is an arrangement of groups, data, processes and technology that act together to accumulate, process, store and provide information output needed to enhance and speed up the process of decision making. In a Bank's information system, there is always a potential crisis which makes the bank endure an insufficiency; thus, an advanced information system supported by a superior mechanism control is required to make certain that an information system has achieved the If the relevant information required in a decision-making process or an organization planning is not available at the appropriate time, then there is a good change to be a poor organization planning, inappropriate decision-making, poor priority of needs, and defective programming or scheduling of activities (Adebayo, 2007).
Information is essential for the endurance of a financial organization in the global and competitive market. The nature of globalization and competitiveness in the market stress on the importance of developing an organization capability