Information Needs of Different Decision Makers

A business organisation is constituted by numerous stakeholders who have different business interest in the organisation. Decision makers of an organization take various important decisions that match the objectives and requirements of the organisation and the management at large. The type of information required by the decision makers differs on the basis of their level and area of interest. The decision makers and the information they would look for in our business shall comprise of, The type of information that each of these stakeholder shall be interested in varies to a great extent like,

Customers: Customers are majorly interested in information that effects there buying habits or effects there purview towards the market like whether, to believe in the brand and continue using the products and services offered by us. This might involve an assessment of our ability to sustain in the business environment and to meet their needs.

Competitors: Competitors are most concerned about their scope of sustainability in the market and they look to adjudge how to compete against us or, perhaps, whether to leave the market on the grounds that it is not possible to compete profitably with us. This might involve competitors using our performance as a ‘benchmark’ while evaluating their own performance. They might also try to assess our financial strength and to identify any material changes that may give a signal about our future actions (for example, raising funds for undertaking a market expansion).

Employees: Employees are majorly concerned with matters related to their job security or pay .Whether to continue working for us and, if so, whether to demand higher rewards for doing the same. The future planning’s, profitability status and the financial strength of the business are likely to be of particular interest when making these decisions.

Government: Government has a much wider perspective it looks to adjudge the overall market situation, ensuring welfare of one and of all. They do so by checking that whether we should pay tax and, if so, how much, whether it complies with agreed pricing policies, whether financial support is needed. In making these decisions an assessment of organisations profit status, sales revenues and financial resources strength would be made.

Community: They analyse for issues like our organisations ability to continue to provide employment for the community, the extent to which it is likely to use community resources and its likely willingness to help fund environmental improvements.

Suppliers: Whether to continue to supply raw materials/utilities to our organisation and, if so, whether to do it on the demanded credit line. This would involve an assessment of our ability to pay for any goods and services supplied.

Lenders: Whether to lend money to the organisation. Organisations ability to pay the interest and to repay the principal sum would be important factors in such decisions.

Managers: Whether, the business performance needs an improvement. For analysing the same previous performances may be used as benchmarks to evaluate the current performance. Managers may also wish to decide whether there should be a change in the organisations future strategies. This would involve looking at organisations ability to perform and at the opportunities available to it.

Owners: They are the apex centres in decision making hierarchy of an organisation. The level of their involvement in the organisation is majorly on factors of whether to invest more in organisation or to sell all, or part, of the investment currently held. This would involve an assessment of the risks and returns associated with the ownership of stake in the organisation. The financial performance of the business would normally be considered when making such a decision.