Unit 2 - Value & Importance of Information Flashcards
1
Q
What five things does management control?
A
- Directing
- Forecasting
- Planning
- Controlling
- Monitoring progress
2
Q
In terms of information, what does ACU stand for?
A
Accurate (data collection)
Complete (data entry)
Up-to-date
3
Q
What are the four stages in producing quality information?
A
- Data collection
- Data entry
- Data processing
- Data maintenance
4
Q
Three main costs involved in producing information
A
- Financial (hardware & software)
- Human Resources (manpower & consumables)
- Time
