Business organisation needs information to achieve its objectives. Effective and efficient planning and control of an organization requires good and reliable information system, also congeal decision making in business requires an understanding of circumstances surrounding a business. Basically, nothing is done in business without information. So with this, information is said to be the life wire of business. What information the failure of a business is discouraged? In this age of comparative and continuous increase in business problem. Such as competition, organizations have come to realize the importance of information. Steps have been taken to improve the methods and systems of gathering and developing in formations to suit business and other organisational activities.
It is with the above views that most organizations had adopted systems like Management information system, marketing information systems to maintain important information over a long period of time.
1.1 GENERAL BACKGROUND OF THE STUDY
Adequate and reliable information is the life wire of every business. In developing nation the problems of business and other organisations is inadequate information. Many organisations do not consider the importance of information to their activities while some devices methods to suit their needs especially manufacturing organisations reports by their sales representatives concerning market situations which in most cases is not adequate for the organization concern.
A more critical look should be developed as regards obtaining and using information in business. More capital should be invested in business so as to ensure proper marketing research, product quality research etc which provides valuable information for the panning of the business to maximize profit.
The background of this study shows that not much has been done in the development of information in business.
1.2 STATEMENT OF THE PROBLEM
Business organisations are increasing recognizing the importance of information. This is because the business environments is changing fast and becoming highly competitive. Buyers are becoming more sophisticated and discriminating.
The challenge of business organization is not only to satisfy customer’s needs and wants but also to satisfy them more than competitors. Any business hoping to achieve this must improve in the quality of informations it uses in
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