Business: Strategic Management

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Business Communications (M1 and D1) support sheet
Task 1b
Individually write an informal report that:
* analyses different types of business information and their sources (M1) * evaluates the appropriateness of business information used to make strategic decisions (D1) (Tip: You could structure your report with three main headings: introduction; analyses of different types of information and an evaluation of the appropriateness of business information for making strategic decisions)

Introduction Write a few sentences about the importance of business information to introduce the content of your report. Use page 126 in your course textbook to help you:

Different types of business information and their sources (M1) Use the table you produced for P1 (types of business information and sources) and break it down further (analyse). Remember to include examples of verbal information (meetings, discussions, interviews), written information (minutes of meetings, memos, reports, surveys, invoices) and electronic information (e-mails, videoconferences, podcasts, blogs) Use pages 129 and 130 in your course textbook for more support.

Appropriateness of information used to make strategic decisions (D1) (Tip: Think of some strategic decisions an organisation needs to make. For example, if the business wants to invest in new machinery, they will need to have relevant information from finance to make sure that they can afford it. If they decide to recruit new members of staff, they will need to have internal and external information about the employment situation. If the business wants to diversify and add new products or services to their existing offer, they will need to have relevant marketing information to make the best strategic decisions.) Think of at least three strategic decisions that a business might make and explain why certain information is most...
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