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‘’An organization is a collection of interdependent decision-making units that
exists to pursue organizational objectives.’’ In the light of this statement, explain the
relationship between information and decisions. Also explain the role of Transaction
Processing System in facilitating the decision-making process in business organisations.?
exists to pursue organizational objectives.’’ In the light of this statement, explain the
relationship between information and decisions. Also explain the role of Transaction
Processing System in facilitating the decision-making process in business organisations.?
Most Upvoted Answer
‘’An organization is a collection of interdependent decision-making un...
Relationship between Information and Decisions in Organizations
Information plays a crucial role in decision-making within organizations. In order to make effective decisions, managers need to have access to accurate and timely information. Without information, decision-making becomes a guessing game and the potential for making poor decisions increases significantly. Therefore, information forms the basis of decision-making in organizations.
Role of Transaction Processing System in Facilitating Decision-making Process
Transaction Processing System (TPS) is a computerized information system designed to process day-to-day transactions in an organization. TPS provides real-time data which is used by managers to make informed decisions. TPS has the following roles in facilitating the decision-making process:
1. Record Keeping: TPS maintains a record of all transactions within an organization. This data can be analyzed to identify patterns, trends, and areas that require improvement.
2. Data Analysis: TPS provides managers with data analysis tools to help them make informed decisions. The system can generate reports that highlight key performance indicators, which can be used to monitor progress and make necessary adjustments.
3. Speed: TPS operates in real-time, which means that managers have access to up-to-date information. This allows them to make timely decisions that can have a significant impact on the organization.
4. Accuracy: TPS is designed to minimize errors in data entry, which ensures that the information used in decision-making is accurate.
Conclusion
In conclusion, information and decision-making are closely linked in organizations. Information provides the basis for decision-making, and TPS plays a vital role in facilitating the decision-making process by providing accurate and timely data. TPS helps managers to make informed decisions, which can have a significant impact on the success of an organization.
Information plays a crucial role in decision-making within organizations. In order to make effective decisions, managers need to have access to accurate and timely information. Without information, decision-making becomes a guessing game and the potential for making poor decisions increases significantly. Therefore, information forms the basis of decision-making in organizations.
Role of Transaction Processing System in Facilitating Decision-making Process
Transaction Processing System (TPS) is a computerized information system designed to process day-to-day transactions in an organization. TPS provides real-time data which is used by managers to make informed decisions. TPS has the following roles in facilitating the decision-making process:
1. Record Keeping: TPS maintains a record of all transactions within an organization. This data can be analyzed to identify patterns, trends, and areas that require improvement.
2. Data Analysis: TPS provides managers with data analysis tools to help them make informed decisions. The system can generate reports that highlight key performance indicators, which can be used to monitor progress and make necessary adjustments.
3. Speed: TPS operates in real-time, which means that managers have access to up-to-date information. This allows them to make timely decisions that can have a significant impact on the organization.
4. Accuracy: TPS is designed to minimize errors in data entry, which ensures that the information used in decision-making is accurate.
Conclusion
In conclusion, information and decision-making are closely linked in organizations. Information provides the basis for decision-making, and TPS plays a vital role in facilitating the decision-making process by providing accurate and timely data. TPS helps managers to make informed decisions, which can have a significant impact on the success of an organization.
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‘’An organization is a collection of interdependent decision-making units thatexists to pursue organizational objectives.’’ In the light of this statement, explain therelationship between information and decisions. Also explain the role of TransactionProcessing System in facilitating the decision-making process in business organisations.?
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‘’An organization is a collection of interdependent decision-making units thatexists to pursue organizational objectives.’’ In the light of this statement, explain therelationship between information and decisions. Also explain the role of TransactionProcessing System in facilitating the decision-making process in business organisations.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about ‘’An organization is a collection of interdependent decision-making units thatexists to pursue organizational objectives.’’ In the light of this statement, explain therelationship between information and decisions. Also explain the role of TransactionProcessing System in facilitating the decision-making process in business organisations.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ‘’An organization is a collection of interdependent decision-making units thatexists to pursue organizational objectives.’’ In the light of this statement, explain therelationship between information and decisions. Also explain the role of TransactionProcessing System in facilitating the decision-making process in business organisations.?.
‘’An organization is a collection of interdependent decision-making units thatexists to pursue organizational objectives.’’ In the light of this statement, explain therelationship between information and decisions. Also explain the role of TransactionProcessing System in facilitating the decision-making process in business organisations.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about ‘’An organization is a collection of interdependent decision-making units thatexists to pursue organizational objectives.’’ In the light of this statement, explain therelationship between information and decisions. Also explain the role of TransactionProcessing System in facilitating the decision-making process in business organisations.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for ‘’An organization is a collection of interdependent decision-making units thatexists to pursue organizational objectives.’’ In the light of this statement, explain therelationship between information and decisions. Also explain the role of TransactionProcessing System in facilitating the decision-making process in business organisations.?.
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