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Question -

State the relationship between Information and Decision.



Answer -

An organisation comprises of different types of units involved in decision making. Every department takes individual decisions to attain the preferred common objectives of organisation. An organisation needs to draft plans, set common target and devise policies. All these events are established on the information (data) which is derived from past experience and anticipating future conditions. On the basis of such information an organisation allocates resources and works towards achieving targets. Therefore, it can be said that information helps in decision making, and previously taken decisions creates a source of information in future.

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