What do we mean by "Information"?

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In the contemporary world, information is regarded as one of the essential aspects of the daily life of humankind. Information can range from different elements such as the prices of goods one wants to buy, the data needed to execute a task, and the knowledge of something (Fox, 2010). Therefore, information can be regarded as processed, organized, and structured to deliver a particular message to a person. Alternatively, information can also be considered facts that are either learned or provided about something or someone. Information is usually regarded as a backbone that defines all operations in an organization. Information also acts as a vital link that holds together all the constituents of an organization. Moreover, it helps in the coordination and regular running of all operations (Eaton &Bawden, 1991). In the current business world, where most companies are experiencing brutal competition, those who own information are regarded as more powerful and given an upper hand in most matters.
Therefore, for any company to thrive in this business environment, it should manage its future. This can only be achieved through better administration of the information they have. In the current century, there is a massive explosion of information whereby many people have a lot of data concerning different things, making it hard for people and businesses to get accurate information at the right time (Webster, 2014). This situation, therefore, makes survival in the market only possible for organizations that can manage information well. As Joseph Gobbles indicated, only those, who can manage information can run the show.
Generally, information can be regarded as the information derived from facts that have been placed in the appropriate context to minimize the level of uncertainty. For example, a manager views information as the knowledge that is crucial in the process of decision making and that which can reduce the uncertainty of any other alternative course of actions that can be taken by an organization (Fox, 2010). In a company setup, having the correct information about all the alternative courses of action enables managers to come up with the best decisions when evaluating business ventures to pursue. This, therefore, makes information to be identified as one of the essential corporate resources in business and management. Information can also be viewed as a source of competitive strength as it allows companies to take measures that can work to their advantage.
Consequently, information can encompass the reception and communication of knowledge or intelligence. This can influence people, stimulate them towards a specific course of action, and even appraise different alternatives. Information can also be used in revealing new options that can be pursued and even reducing the uncertainties when pursuing a specific option in businesses (Webster, 2014). Therefore, this makes information regarded as a critical resource in day-to-day human activities. However, although information is considered a resource, it has distinct characteristics that differentiate it from other traditional resources. Some of the...