Benefits of Information:

Information plays a very important role in management. It helps in management control, in decision-making, and in building models, backgrounds, and motivation. In a business organization, the value of information is affected due to various factors like completeness, timeliness, correctness, consistency, appropriateness, validity, usability, uniqueness, relevance, and accessibility. Information can be justified or can be considered to have high value if its expected value is more than the costs of acquiring it. The value of information depends on the following aspects:

• The information should convey something that people are unaware of.
• The information should instigate some action.
• The action taken up should result in good profits.

Information helps in ensuring proper management control. There are three types of control that exist in an organization. These are preliminary controls, screening controls, and post action control. Preliminary controls ensure that the right information is collected. Screening control ensures that the information is put to use in the right way. Post action control ensures that the gathered information reaches the right audience.

Information helps in decision-making. The process of decision-making is marked by a great deal of uncertainty and risk. Decisions in organizations are usually taken based on past experiences and their outcome. The person taking the decisions has to have good knowledge about the various aspects and alternatives available. He/she should also have good knowledge about the likely outcome in each of those alternatives. All these are possible only when the decision maker has the right information. 

Information also helps in building backgrounds, models, and motivation. It helps in building up knowledge within the organization so that decisions can be taken internally without external experts having to be employed. An organization's business model is also decided on the basis of the flow of information in the organization. Such models enable learning and build expertise within the organization. Information also acts as a motivational factor as the employees feel good and get motivated if they receive information about their work being appreciated by their superiors. Such information is vital as it affects the performance of the individual employee as well as the overall productivity of the organization.

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