Unit 3 P1

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P1: Explain different types of business information, their sources and purposes. 1. Business information is the information a business would acquire. Many aspects could contribute to this hence the businesses customers, employees, owners, or shareholders-an owner of shares in a company. The information conveyed is most likely to be through the use of systematic data. Incentives arising from this would be the organisational structure that manages information and other key aspects a business needs to function. This then allows businesses to make decisive requirements, as they have valued information which could ultimately affect decision making; it also helps conduct the best outcome which benefits the business. An example, if a business manager analyses their balance account and they locate that their profits has drastically decreased in recent weeks, It would provide the manager with an alternative which would to possibly decrease their expenses for future references. Hence sourcing business information contributes too many things. Different types of information:…show more content…
Individuals within business’s, in employment have to communicate verbally. This is an effective means in which allows transactions take place in the work place, Hence it ensures enunciation, which is to utter or pronounce words distinctly. Commuting using face to face conversation could have relevance toward Tesco; hence they could promote persuasive conversations which could provide individuals with useful information. Further means which could be taken in order to benefit Tesco’s could be communication through the phone. This provides Tesco’s with the opportunity to commute with ease. For instance if an individual wants to exchange words with the manager, it would be much more convenient to do

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