GROUP 6

Discuss the characteristics of good information for proper

business administration in the work of business management
Understandable

Good information should be presented in a summary way so that the

user can understand it and interpret it appropriately.
He must be able to decipher any abbreviations, shorthand notations,
or other acronyms that may be present in the data.
Relevant

Good information should be meaningful to the decision maker and

should be in his field of work.
For example,the field of medicine,business,law among others.
Complete:

It should provide all of the essential facts for the decision maker to
address the problem satisfactorily utilizing the information provided
Nothing crucial should be overlooked.
Despite the fact that information is not always full, every reasonable
attempt should be done to collect it.
Available

Good information should be available at all times in the desired form

and readily available to the user.
Advances in technology have made information more accessible
today than ever before.
Reliable

The information should be regarded as reliable.It must be truthful,

factually correct, and provable.
Inadequate or erroneous information frequently leads to poor-quality
judgments. Sales data that have not been adjusted for returns and
refunds, for example, are unreliable.
Concise

Too much information is a big burden on management and cannot be

processed in time and accurately due to “bounded rationality”.
Bounded rationality determines the limits of the thinking process
which cannot sort out and process large amounts of information.
As a result, information should be brief and to the point - no more, no
less.
 Timely:

Information must be delivered at the right time and the right place to
the right person.
Similarly, some crucial decisions can be delayed because proper and
necessary information is not available in time, resulting in missed
opportunities.
Accordingly the time gap between collection of data and the
presentation of the proper information to the decision maker must be
reduced as much as possible.
 Cost-effective

The information is not desirable if the solution is more costly than the
problem.
The cost of gathering data and processing it into information must be
weighed against the benefits derived from using such information
Accurate

Information should be fair and free from biasness.

It should not have any arithmetical and grammatical errors.
Information comes directly or in written form likely to be more
reliable than it comes from indirectly (from hands to hands) or
verbally which can be later retracted.
User-targeted

Information should be delivered in a style, structure, level of

detail, and complexity that meets the demands of the
consumers.
Senior managers, for example, want succinct reports to grasp
the business's situation and performance at a glance, whereas
operational managers require detailed information to make
day-to-day choices..
Authoritative

The information should be obtained from a reputable source.

It relies on the individual presenting the information's credentials,
expertise, and prior performance.
Easy to Use

Users should be able to interpret the information.

The receiver should be considered while choosing style, phrase
structure, and vocabulary.
If the report is intended for newcomers to the area, the technical
language used in the report should be explained.