In
this knowledge-based economy when the business environment
is becoming more competitive because of globalization,
the right information at right time is an important
weapon for CEOs. It is not just any information, but
quality information that is required. CEOs do not have
enough time to scan all the available information, and
most of the time they make decisions based on their
previous experiences, and depend on credible sources
rather than simply listening to their close colleagues
and the board of directors. It is easy to generalize
the above statement, but what are the factors that affect
a CEO's decision-making process? The article seeks to
look into some of the sources of information, factors
that affect the CEO's decision-making in an organization.
In
today's competitive global marketplace, the cost of
quality information is a competitive advantage. But
most of the small organizations cannot afford the cost
for well organized research and have to depend on other
sources of information such as newspaper, personal and
other libraries, government publications, radio, TV,
online bibliographic databases, internal reports, online
sources, personal contacts and subordinate managers.
The
CEO's competitive intelligence thus depends on how different
sources of information are used in a specific situation
such as regulatory, competitors, customer service, technology,
socio-culture and economic situations. In each case,
the CEO's intelligence relates to respective objectives
and thus the same source of information does not work
in the decision-making process. |
