Internal Sources Of Secondary Information

Published Date: 02 Nov 2017

Data and information are considered as the backbone of business. Information is also required to convey decisions taken to the people responsible for implementing the decisions taken, and for monitoring the actual results achieved as the work progresses. In this way information plays a critical role in working of every organization.This paper will help me to understand about the nature, relevant sources, and criteria and also increase my knowledge about by the laws and regulations about the collection, use and storage of data and information. Before the end of this paper i will be able to analyses and present information to support decision making and also be able to communicate the results of information analysis and decisions.

TASK 1

Discuss the nature of data and information

The main characteristic of data is that, they are unprocessed, unorganized and. data, like information, can be qualitative (opinion-based, subjective) or quantitative (measurement-based, objective). The opinions of 1000 people about a government policy would be qualitative. Rainfall measurements would be quantitative. Data can be detailed or sampled. Detailed data would facts about every occurrence of something (e.g. the weight of every packet of Twisties leaving the factory). Sampled data would use typical measurements to represent the whole Data can come in various forms: textual (e.g. names, addresses), numeric (e.g. heights, ages), Graphical (e.g. pictures of faces), Aural (e.g. Morse code dots and dashes), visual. (Kelly, 2005)

Information is a sequence of symbols that can be interpreted as a message, can be recorded assigns, or transmitted as signals. Information is any kind of event that affects the state of a dynamic system. Records are a specialized form of information. Essentially, records are information produced consciously or as by-products of business activities or transactions and retained because of their value. (Information) 

1.2 Evaluate relevant sources of data and information

Primary Data Sources

Primary data collection is necessary when a researcher cannot find the data needed in secondary sources. Three basic means of obtaining primary data are observation, surveys, and experiments. The choice will be influenced by the nature of the problem and by the availability of time and money. Examples include surveys, interviews, observations, and ethnographic research. (Shujaat, 2009)

Types of Primary Research

Interviews are one-on-one or small group question and answer sessions. Interviews will provide a lot of information from a small number of people and are useful when you want to get an expert or knowledgeable opinion on a subject. Surveys are a form of questioning that is more rigid than interviews and that involve larger groups of people. Surveys will provide a limited amount of information from a large group of people and are useful when you want to learn what a larger population thinks. Observations involve taking organized notes about occurrences in the world. Observations provide your insight about specific people, events, or locales and are useful when you want to learn more about an event without the biased viewpoint of an interview. Analysis involves collecting data and organizing it in some fashion based on criteria you develop. They are useful when you want to find some trend or pattern. A type of analysis would be to record commercials on three major television networks and analyze gender roles.

Sources of Secondary Data

While primary data can be collected through questionnaires, depth interview, focus group interviews, case studies, experimentation and observation; the secondary data can be obtained through; Internal Sources - these are within the organization and external sources - These are outside the organization. (Sources of Data)

Internal Sources of Data

If available, internal secondary data may be obtained with less time, effort and money than the external secondary data. The internal sources include; accounting resources gives so much information which can be used by the marketing researcher. They give information about internal factors. Sales Force Report gives information about the sale of a product. The information provided is of outside the organization. Internal Experts are people who are heading the various departments. They can give an idea of how a particular thing is working.Miscellaneous Reports; these are what information you are getting from operational reports. If the data available within the organization are unsuitable or inadequate; the marketer should extend the search to external secondary data sources. (Sources of Data)

External Sources

External Sources are sources which are outside the company in a larger environment. Collection of external data is more difficult because the data have much greater variety and the sources are much more numerous. Secondary data is data which has been collected by individuals or agencies for purposes other than those of our particular research study. For example, if a government department has conducted a survey of, say, family food expenditures and then a food manufacturer might use this data in the organization’s evaluations of the total potential market for a new product. (Chapter 2: Secondary Sources Of Information, 1997)

Syndicate services becoming popular since the constraints of decision making are changing and we need more of specific decision-making in the light of changing environment. Also Syndicate services are able to provide information to the industries at a low unit cost. however, The information provided is not exclusive. A number of research agencies provide customized services which suits the requirement of each individual organization. International Organization includes The International Labor Organization It publishes data on the total and active population, employment, unemployment, wages and consumer prices.The Organization for Economic Co-operation and development publishes data on foreign trade, industry, food, transport, and science and technology. The International Monetary Fund publishes reports on national and international foreign exchange regulations. (Sources of Data)

Sources of information

Secondary sources of information may be divided into two categories: internal sources and external sources.

Internal sources of secondary information

All organizations collect information in the course of their everyday operations. Orders are received and delivered, costs are recorded, sales personnel submit visit reports, invoices are sent out, and returned goods are recorded and so on. Much of this information is of potential use in marketing research but a surprising amount of it is actually used. Organizations frequently overlook this valuable resource by not beginning their search of secondary sources with an internal audit of sales invoices, orders, inquiries about products not stocked, returns from customers and sales force customer calling sheets. (Kenett & Salini, 2011)

External sources of secondary information

The marketing researcher who seriously seeks after useful secondary data is more often surprised by its abundance than by its scarcity. Too often, the researcher has secretly (sometimes subconsciously) concluded from the outset that his/her topic of study is so unique or specialized that a research of secondary sources is futile. Consequently, only a specified search is made with no real expectation of sources. Cursory researches become a self-fulfilling prophecy. Dillon et al advise that searches of printed sources of secondary data begin with referral texts such as directories, indexes, handbooks and guides. These sorts of publications rarely provide the data in which the researcher is interested but serve in helping him/her locate potentially useful data sources. The main sources of external secondary sources are- government, trade associations, commercial services, national and international institutions. (Chapter 2: Secondary Sources Of Information, 1997)

1.3 Discuss the criteria for selection of data and information

Considerations/issues in data selection

Data selection is defined as the process of determining the appropriate data type and source, as well as suitable instruments to collect data. There are a number of issues that researchers should be aware of when selecting data. These include determining the appropriate type and sources of data which permit investigators to adequately answer the stated research questions, suitable procedures in order to obtain a representative sample the proper instruments to collect data. There should be compatibility between the type/source of data and the mechanisms to collect it. It is difficult to extricate the selection of the type/source of data from instruments used to collect the data. Questions that need to addressed when selecting data type and type include:

What is (are) the research question(s)?

What is the scope of the investigation? (This defines the parameters of any study. Selected data should not extend beyond the scope of the study).

What has the literature (previous research) determined to be the most appropriate data to collect?

What type of data should be considered: quantitative, qualitative, or a composite of both? (Data selection)

1.4 Identify legal requirements relating to the collection, use and storage of data and information

Not all types of research require permission—for example, analyzing something that is available publicly the permission of the authors is not needed. Anything that would cause physical or emotional harm to subjects shouldn’t be done. Objectivity vs. subjectivity in your research is another important consideration. Be sure your own personal biases and opinions do not get in the way of your research and that you give both sides fair consideration. Many types of research, such as surveys or observations, should be conducted under the assumption that you will keep your findings anonymous. Many interviews, however, are not done under the condition of anonymity. You should let your subjects know whether your research results will be anonymous or not. When you are doing research, be sure you are not taking advantage of easy-to-access groups of people (such as children at a daycare) simply because they are easy to access. When reporting results accurately represent what you observed or what you were told. (Driscoll & Brizee)

Task 2

2.1 Evaluate decision making models, using more than one, to support decision making

All people need to make decisions from time to time. Given limited time in formulating policies and addressing public problems, public administrators must enjoy a certain degree of discretion in planning, revising and implementing public policies. In other words, they must engage in decision-making (Gianakis, 2004). Over the years, many scholars tried to devise decision-making models to account for the policy making process. (Decision-making models)

There are two basic models used to describe the decision making process; the rational model and Simon's normative model. The rational model proposes that people follow a rational, four step sequence when making decisions. The four steps are: identifying problem, generating solutions, selecting solution, implementing and evaluating solution. Some of the limitations not considered in this model are issues such as not having enough information relevant to the problem and also the fact that problems can change in a short period of time. (Kinicki, 2008)

The normative model of decision making takes into account the fact that leaders are bound by certain constraints when making decisions. These constraints include personal and environmental factors that reduce rationality, such as time, complexity, uncertainty and resources. The normative model suggests that decision making is characterized by; Limited information processing - there is a limit to how much information a person can manage. Judgmental heuristics - shortcuts are used to simplify decision making. (Kinicki, 2008)

2.2 Identify who you involve in analyzing information and decision making

As a leader, I will frequently be required to make decisions which can have significant impacts on organization and team. Therefore, I should have a good understanding of the different models of decision making and what's involved in making a good decision. The importance of critical thinking and its direct impact on effective decision making should be known. Good leaders are usually critical thinkers as they understand the mechanics of reasoning and are able to use this to manage the unconscious influences that contribute and affect their decision-making process. Generally, critical thinkers: Continually question their own and other people's assumptions, reasons, motivations, and outlook, Do not focus on contradicting others when questioning but focus on their reasoning and perspective and Answer questions by asking more questions. (Kinicki, 2008)

A data analyst is a highly trained individual that specializes in collecting, organizing, and analyzing data from various resources. For example, the data may be obtained from secondary source documents such as statistical studies, or from direct consumer marketing surveys. In terms of analysis, the data analyst generally uses data management and reporting systems to collect and organize specific data drawn from relational databases. While this process is largely automated, it must first be initiated by developing mathematical computations and collection protocols in order to extract data into meaningful statistical analysis.

Although the primary tasks of this position are compilation and analysis of numerical information, a data analyst often takes on other roles. For one thing, he or she is expected to possess a certain degree of technical expertise with automatic data collection and reporting systems, including a capacity for program troubleshooting and system security measures. Depending on the nature of the data being collected and analyzed, the individual may also be required to be familiar with procedural standards and regulations specific to a particular area of research, industry, or market. In addition, data analysts often engage in making projections regarding future trends based on current economic and/or market conditions. In some cases, the data analyst may be involved the research phase of a project by participating in the design and implementation of relevant studies and surveys. (Maier)

2.3 Evaluate methods of presenting decisions made to (for example) stakeholders, immediate superior(s), team and colleagues

The business plan must be presented in a form the ’audience’ expects and understands. If the proposals are complex or people have a low level of understanding then it must be summarized. Winning the support of key players, talking with them and ensuring they understand and accept the business plan prior to formal presentation can be a major factor. However ’key players’ are not always the people in charge. They could be shop-floor workers or union representatives. They are people vital to the implementation of the business plan and/or who can play a key role in explaining the plan, building support or creating conditions for it to succeed presenting a business plan is a two-way process, a dialogue between you and the person(s) you are trying to influence. Presenting a business plan is a two-way process, a dialogue between you and the person(s) you are trying to influence. Not only must you be able to present your case well but you must have a thorough understanding and knowledge of your business plan. If you do you will be able to answer their questions and deal with any doubts they have. (PRESENTING A BUSINESS PLAN)

A video presentation might be the way to go as this will allow you to elucidate any difficult concepts on passage in an articulate manner without the hassle of verbally delivering the results. You can also work in graphics, titles and explanations into said video.

If you believe that you are required to undertake a formal process of presenting your information then you are going to have to get those typing fingers out and produce a report using the tone, tropes, codes and conventions that are inherent in the subject area which you are operating.

At the end of the day, you must fully understand to whom you are presenting these decisions that you have made and adapt accordingly. (Evaluate methods of presenting decisions made?)

TASK 3

3.1 Evaluate methods of communicating decisions made to (for example) stakeholders, immediate superior(s), team and colleagues

There are several methods of business communication, including: Web-based communication for better and improved communication, anytime anywhere. Video conferencing allows people in different locations to hold interactive meetings; e-mails provide an instantaneous medium of written communication worldwide. Reports are important in documenting the activities of any department. Presentations - very popular method of communication in all types of organizations, usually involving audiovisual material, like copies of reports, or material prepared in Microsoft PowerPoint or Adobe Flash; telephoned meetings, which allow for long distance speech; forum boards, which allow people to instantly post information at a centralized location; and face-to-face meetings, which are personal and should be succeeded by a written follow-up. (Business communication)

3.2 Discuss the process for implementing a communications method

First, keep it short.  The attention span of most humans is short to begin with and can easily be shortened further by a plethora of words.  The goal is to accommodate the human attention span, not test its endurance. Second, clearly state the decision.  This may sound simplistic but clarity is often obscured by attempts to say too much, or by choice of words. Third, clearly explain the reasoning behind the decision.  The goal here is not to sell your decision to others, achieve buy-in, or justify your action.  Managers are empowered to make decisions, so they require no justification.  Rather, the goal is to clearly and simply communicate the reasoning that led you to the decision you made. Fourth, clearly stipulate how to measure the decision’s effectiveness.  Not only is this often not part of a decision’s communication to a workhorse, worse, it is often not a serious part of the decision-making process itself.  (Busch, communicating decisions, 2012)

Letting a workforce know that you intend to measure results and sharing the measures you intend to use is a powerful message that enhances your managerial credibility. Communicating your measures for success is especially important to those who may disagree with your decision, letting them know there will be a re-evaluation of the results. Fifth, indicate exactly when you will undertake a re-evaluation of the decision’s impact. Putting an exact time frame on the re-evaluation process lends credibility to the promise it contains and forces some form of tracking process to fulfill the promise. Even the most effective communication messages regarding a decision do not serve management well, if any part of their content ends up being false or untrue. (Busch, communicating decisions, 2012)

3.3 Evaluate the implementation of a communications method

Key points should be outlined ahead of time. If each member of a leadership team is communicating individually, creating a common list of key messages is even more important. Leaders make decisions taking strategies, mission, vision and/or values in mind. Since they may have struggled through the decision from these perspectives, or because they understand the strategies so clearly, these connections may seem obvious to them. They won't necessarily be as obvious to audience. Audience should be helped to see the connections and the relevance of this decision to the long-term picture of the organization. Knowing why helps people hear, understand and accept a decision. One executive might make the announcement or send the email to everyone within the organization. Each individual manager might share the message with their groups separately. There can be some combination of both. (Eikenberry, 2007)

 The how (email, team meeting, voicemail, newsletter, you get the idea) will be different in different situations. Considering the message, its implications should be determined beforehand. The messages should be informed to everyone concerned as soon as possible Even if complete information is not available. If communicating separately, some agreements on when the communication will be completed are important - to make sure some pockets of the organization don't have the information far ahead of others. (Eikenberry, 2007)

Communication is a two-way process. A complete communication plan makes sure that people have gotten the message and that they understand it. This implies that an email alone may not be enough. To be most successful, you need to create some sort of feedback mechanism or dialogue. the biggest key is not to make sure we communicate, but to make sure we communicate the right information at the right time in the right way. When we communicate this way our communication will be deemed more complete and therefore more effective. 

Potential Principle - When we communicate the right information at the right time in the right way our communication will be more effective. (Eikenberry, 2007)

Conclusion:

With the growing importance in investment in information technology, it is crucial that a leader knows how manage and utilize information within an organization. Information processing is becoming an essential element in management. In order to achieve the objectives and goals set by an organication, it is important to know about the sources, methods and criteria for gathering data and information. The above paper has helped me in this course. The paper has enriched my knowledge on decision making models, analyzing information, communicating and presenting information. Hopefully, all of these knowledge will help me in the future while taking decisions in my own organization.