Information requirements for managementdecision support
General Systems Theory (GST) provides a lensthrough which business organizations can be understood. Fig. 1 illustrates a systems view of how a business operates. Every system has a purpose or goal that drives the strategy behind its design and organization. Economists describe a business as a production system that adds value to the environment. The overall goal of the business is to maximize its long term value . It does so by transforming lower-valued resources acquired from the environment into higher-valued goods and services distributed back to the environment. The general functions of management are to: strategize, organize, lead, acquire and allocate resources, and monitor business activities to assure that the difference between the value of the outputs and the value of the inputs is maximized .
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