Question

What is the purpose of gathering and exchanging information? Discuss in 100–120 words.

Answer 1

Gathering and exchanging information helps in maintaining transparency in operations . The purpose of collection and exchange of various information is helpful in precise decision making and it also reduces scopes of judgement errors.

Gathering and exchanging information would always support a fair environment where there is a high level of emphasis upon ethical consideration into business and implementation of a high level of corporate governance.

It helps in smooth transfer of various precise information at different strategic decision making positions, which helps in maintaining uniformity in decision making.

There would be low level of communication gap and it would also avoid any kind of inaccurate decision making due to bad channels of information transfer.

So overall, Collection and exchange of information is highly important in in digital world in order to make decisions quickly and accurately.