LO1;Information flows

Information flows
The movement of information relevant to the business,from where it is produced,to where it can be used.

There is 2 types of information flows

• Internal(inside organization)
• External(outside organization)

Define Internal and External

• Internal is information generated by functional department within the organization
• External is Information passes to agencies outside the organization

Information flows shows the step involved in data flows which includes:

• Where data is originally produces
• Where it is turned into information
• Where decision are made on that data

LO1: Business functional areas

Choose TWO (2) business functional area
Explain the roles and responsibilities
Provide example of their roles.You may use diagrams or images to support your answers.

Marketing

The marketing department has overall responsibility for growing revenue, increasing market share and contributing to company growth and profitability. In a small business, the marketing department may just be one person, or it may include a marketing director or manager plus marketing executives responsible for functions such as advertising, publications or events.

Example:

Smallbusiness.chron.com. (2017). Responsibilities of Marketing Department. [online] Available at: http://smallbusiness.chron.com/responsibilities-marketing-department-69931.html [Accessed 21 Jun. 2017].

Finance

Senior leaders of an organization are responsible for all aspects of its financial health. They are charged with understanding the unit's financial situation and not allowing unintended deficits to occur. They remain accountable for the resources entrusted to them, including funding, facilities and staffing, even if they have delegated budget and accounting responsibilities to their staff.

Example:

Finance.uw.edu. (2017). Financial Roles and Responsibilities | Finance. [online] Available at: https://finance.uw.edu/fmat/responsibilities [Accessed 21 Jun. 2017].

LO1 : Good Information

Explain each characteristic of good information.
Give ONE (1) example for each characteristic.

The characteristic of a good information are:

• Valid
• Reliable
• Timely
• Fit-for purpose
• Accessible
• Cost-effective
• Sufficiently accurate
• Relevant
• Right level of detail
• From a source in which the user has confidence
• Understandable by the user

Definition

Valid

• Information that is correct and can be used for the purpose that is needed

Reliable

• Internal information which is valid and trusted source

Timely

• Information from correct time period

Fit-for purpose

• Information that is relevant to what you need it for

Accessible

• Information that is store in a way that it can be easily accessed at any time

Cost-effective

• Information that is worth investing the times money to get to help make business decision

Sufficiently accurate

• Accurate information help business make the correct decision

Relevant

• Information that is directly related to business need

Right level of detail

• Information that have the correct detail

From a source in which the user has confidence

• The source can be reliable and trusted 

Understandable by the user

• Information that is used for business purpose need to understandable by end user

LO1 Sources of information

GROUP EXERCISE

a) Provide a brief description of this organization

b) List at least FOUR (4) departments in this organization

c) Identify FOUR (4) types of information that this organization need.For each type, list the departments involved

d) Is your information reliable? Justify

Answer:

a) Cosmopolitan college is a private company department that provides IT and Business.

b)

• Admin Department
• Marketing Department
• Finance Department
• Management Department

c)

1.     Student Details

ü  Student Name

ü  Student Address

ü  Student Contact

ü  Student Email

2.     Staff Details

ü  Staff Name

ü  Staff Contact

ü  Staff Experience

ü  Staff Skill

ü  Staff Status

3.     Lecturer Details

ü  Lecturer Name

ü  Lecturer Email

ü  Lecturer Contact

ü  Lecturer Age

ü  Lecturer Status

4.     Promotion Details of a College

ü  Social Media

ü  Poster

ü  Website

d) Yes, it from trusted sources department information because we got the information from website.

Done By:

Nazmi Hasreen

Hazwan Hassan

Muadz Othman

Afiqah Latif

Hamizah Sisa

LO1:Sources of Information

2 sources of Information:
Internal Information vs External Information

Internal Information
This is information held within the organisation example sales figure,employee record,manager reports

External Information
This is information gained outwith the organisation such as government statics or competitor accounts

Information, I. and McGowan, M. (2006). Internal Information and External Information. [online] Int2businfo.blogspot.com. Available at: http://int2businfo.blogspot.com/2006/11/internal-information-and-external.html [Accessed 14 Jun. 2017].

LO1-Information System

Research:
1.Explain Information System
A combination of hardware,software,infrastructure and trained personnel organized to facilitate planning,control,coordination and decision making in an organization.

2.Explain the types of information and give example:

• Qualitative

• Quantitative

• Primary

• Secondary

Qualitative is non numeric information based on the quality of an item or object.For example if you were testing water then you might say that the taste is either nice or not so nice



Quantitative is information can be directly measured and can be seen as factual information rather than opinion.For example, when testing water the fluoride content of the water might be measured in milligrams.

Primary is information that you collect yourself. For example carrying out a survey or using sales figures from your own cash registers.

Secondary  is information that is collected from a secondary source outside of your own organisation.For example biographies,in order to present a balanced, objective hypothesis  it may sometimes be necessary to use a range of sources.

References:

BusinessDictionary.com. (2017). What comes after those ellipses?. [online] Available at: http://www.businessdictionary.com/definition/information-system.html [Accessed 13 Jun. 2017].

Content Writer. (2013). Types of information (qualitative, quantitative, primary and secondary) - Content Writer. [online] Available at: http://www.contentedwriter.com/types-of-information-qualitative-quantitative-primary-and-secondary/ [Accessed 13 Jun. 2017].