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IMPROVING MANAGERIAL APPROACHES TO INFORMATION TECHNOLOGY
Abstract
Advances in information technology should be viewed by management not only as inherently desirable in themselves, but also as sources of potentially valuable improvements in planning, operations, control and performance evaluation. Hence, it is appropriate that all such proposals should be evaluated in terms of their expected yields of faster, more complete, more accurate and more effectively integrated information flows. In addition, however, primary emphasis should also be given to the magnitude of resulting contributions to the competitiveness, profitability and growth of the firm relative to the time, investments and costs involved.
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REFERENCES
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Thus wage cost/output = wage cost/man-hours/output/man-hours
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PROFIT/TOTAL INVEST = (PRODUCT VALUE/OUTPUT-TOTAL COST/OUTPUT) × OUTPUT/CAPACITY × CAPACITY/FIXED INVESTMENT × FIXED INVESTMENT/TOTAL INVESTMENT
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