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An economic appraisal of management information

Carter, Mike

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Mike Carter


The principal aim of this study is to produce a methodology for the economic appraisal of management information. It is not claimed that the methodology will work for all management information but it is considered appropriate in the majority of cases. The first stage in the methodology is the production of a management information needs framework. This framework will have at least two level; management's present and management's potential information needs. The information needs framework is then extended into an information value and cost framework. This extension is carried out by first ordering the needs framework in order of importance to the manager of the information. One of three methods of valuation can then be used to place a value on the information which enables its economic viability to be determined. A series of empirical studies were carried out to determine how successfully such a methodology can be operated by management. These empirical studies indicated that management can determine information needs reasonably successfully although they might need assistance to estimate potential information needs. The studies also suggested that management have problems in determining quantitative values and costs and so would need some form of training programme to carry out this part of the methodology. The thesis also contains a number of case studies relating to specific management information problems.


Carter, M. (1981). An economic appraisal of management information


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