Information identification, evaluation and utilisation for decision-making by managers in South West Nigeria

Abstract

Background: Managers’ organisational decisions and subsequent actions flow from their understanding of the business environment in which they operate. This study sought to understand how managers in various organisations identify, evaluate and use information for effective current and future decision-making.Objectives: The study focused on the types of information needed by managers for decision-making, the methods used to identify and acquire the information and the sources of information consulted, their satisfaction with the information used and their decision-making behaviours.Methods: The study employed descriptive study design. Simple random sampling was used. A pre-tested self-administered questionnaire was used to gather information from 219 managers, randomly selected from the registers of the Ibadan, Abeokuta and Lagos chapters of Nigerian Institute of Management.Results: Results indicated that the types of information considered very important for decision-making included industry information followed by government policies and economic development/forecasts.Conclusion: Investigation revealed the extent of information identification, information evaluation and information utilisation individually predict the perceived effectiveness of decision-making by the managers. Nevertheless, information evaluation was found to have greater predictive relationship with perceived effectiveness of decision-making than information use and information identification.