A Key element in both planning and controlling is information. What are the main attributes that information must possess in order to be useful to managers? And is the nature of the...

A Key element in both planning and controlling is information.

What are the main attributes that information must possess in order to be useful to managers? And is the nature of the information required by managers? And is the nature of the information required by managers at different levels similar or does it varies along with the hierarchy?

Expert Answers
marbar57 eNotes educator| Certified Educator

Wikipedia defines information as "a message received and understood.  Information is the result of processing, manipulating and organizing data in a way that adds to the knowledge of the person receiving it."

Managers work with numbers, or raw information.  The information comes to them in a multitude of ways:  sales figures, payroll, marketing projections, surveys, accounts receivable/payable, etc.  Any information coming in as a result of normal business operations is pertinent and can be utilized.

The next step in the information process is breaking down the raw information into meaningful files, reports, charts, numbers, etc for proper analysis.  This is called dissemination, and is very important. 

Information is needed at all levels of a company, not just management.  However, on the management ladder the higher up a person progresses, the greater the refinement and complicity of the information that is dealt with.