Purpose of information
The purpose of all information is to SWOT analyse. ‘SWOT’ stands for Strengths, Weakness, and Opportunities, Threats. They will be categorized into four different elements, ‘Helpful’ & ‘Harmful’. Meaning is it helpful to achieve the businesses objective or is it harmful to the businesses objectives. This would be Strengths & Opportunities within the Helpful section of the SWOT analysis. The other two elements of the SWOT analysis are External & Internal origin; meaning is it an attribute of the organization, an internal origin, or it is an attribute of the environment, an External origin. This would be Opportunities & Threats within External origin and Strengths & Weakness within Internal origin. Analysing these four …show more content…
What is their bank account number? What is their contact number? This knowledge that Tesco have is the information that they have, it is important that they must update this information that they have on their employees as if it the information was out of date or it wasn’t updated correctly, then something such as if Tesco got the employee’s emergency contact number wrong, them someone else would be notified rather than the correct contact, this would lead to big problems after as the contact would understandably be upset or angry that they weren’t …show more content…
Internal sources of information are pieces of information which has come from within the organization. For example, financial, human resources, marketing, purchasing, sales, manufacturing and administration pieces of information. As these would’ve all come from within the organization they are internal sources of information. Tesco will use a lot of their internal sources of information in many different ways, for instance, the information that they’ve obtained from their sales, they can use to determine if they are maybe making enough profit to spend however much they are spending at the moment.
An External source of data is when the information has come from outside the organization. For example, the government, commercially provided databases, or secondary research, meaning someone else had done the research but you use it.
It is important for any business to use reliable data sources, as if it is not then the information taken from the data used will not be reliable either, which is what you need to be reliable. This means that any assumptions that Tesco make for the better of the business will actually not be reliable and even incorrect, for example when using customers shopping habits to predict potential discounts for that customer, unreliable data would mean sending and discounting wrong
The purpose of all information is to SWOT analyse. ‘SWOT’ stands for Strengths, Weakness, and Opportunities, Threats. They will be categorized into four different elements, ‘Helpful’ & ‘Harmful’. Meaning is it helpful to achieve the businesses objective or is it harmful to the businesses objectives. This would be Strengths & Opportunities within the Helpful section of the SWOT analysis. The other two elements of the SWOT analysis are External & Internal origin; meaning is it an attribute of the organization, an internal origin, or it is an attribute of the environment, an External origin. This would be Opportunities & Threats within External origin and Strengths & Weakness within Internal origin. Analysing these four …show more content…
What is their bank account number? What is their contact number? This knowledge that Tesco have is the information that they have, it is important that they must update this information that they have on their employees as if it the information was out of date or it wasn’t updated correctly, then something such as if Tesco got the employee’s emergency contact number wrong, them someone else would be notified rather than the correct contact, this would lead to big problems after as the contact would understandably be upset or angry that they weren’t …show more content…
Internal sources of information are pieces of information which has come from within the organization. For example, financial, human resources, marketing, purchasing, sales, manufacturing and administration pieces of information. As these would’ve all come from within the organization they are internal sources of information. Tesco will use a lot of their internal sources of information in many different ways, for instance, the information that they’ve obtained from their sales, they can use to determine if they are maybe making enough profit to spend however much they are spending at the moment.
An External source of data is when the information has come from outside the organization. For example, the government, commercially provided databases, or secondary research, meaning someone else had done the research but you use it.
It is important for any business to use reliable data sources, as if it is not then the information taken from the data used will not be reliable either, which is what you need to be reliable. This means that any assumptions that Tesco make for the better of the business will actually not be reliable and even incorrect, for example when using customers shopping habits to predict potential discounts for that customer, unreliable data would mean sending and discounting wrong