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Hello John,
Which of the following statements are correct?
Strategic information is mainly used by senior management in an organisation.
Productivity measurements are examples of tactical information.
Operational information is required frequently by its main users.
A( i) and (ii) only
B (i) and (iii) only
C (i) and (iii) only
D (i), (ii) and (iii)The answer given is D.
I want to ask that when every there is any measurement so it will come in Tactical. Like here in Statement (ii).
Performance measurement is part of Tactical level?John I have another question for same topic.
Which of the following statements is/are correct?
(i) Information for decision-making should incorporate uncertainty in some way.
(ii) The data used to prepare financial accounts and management accounts are the same.(i) is true and (ii) is false
(ii) is true and (i) is false
Both are true
Both are falseThe answer given is C. I am not able to get first statement. It would be great if you please help.
First question: Yes – they would be tactical.
Second question: To make decisions the management need forecasts. For example, deciding how many employees are needed next year needs forecasts of how many units will need to be produced (which in turn is likely to depend on forecasts of the demand next year).
It is impossible to forecast precisely – the forecasts are always going to be uncertain. So the information used should attempt to incorporate uncertainty – maybe, for example, by giving a range of likely levels of sales (using the same example) with an estimate of how likely or unlikely each of the levels is.First question- Understood! A lot of thanks.
Second Question
He is saying that it “should”. It is necessary to incorporate uncertainity? I mean that decision can be certain while future related as you said forecast based decision can be uncertain.The decision actually made will be certain.
However they will use the information bin order to make the decision and the information they use should mention the uncertainty there is in the forecasts.
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