CAT / FIA FBT Syllabus A. The Business Organisation, Its Stakeholders - Sources of Internal and External Information - Notes ^{3 / 3}

Internal Information
- A system needs to be devised to gather this information. The types of internal information could be:
  - Accounting Records
  - HR & Personnel Information
  - Payroll
  - Production Information
- The system should take into account such things as:
  - What data/information?
  - When?
  - By who?
  - What method?
  - Process, filed and communicated?
External Information
External information is gathered via a formal or informal collection of data from outside sources.
For example a formal process would read something like this:
A companies HR department should gather information regarding changes in employment law or indeed a marketing manager should periodically assess the external market through market research etc to ensure all information is gathered to make an informed decision.
Informal Information
Informal information gathering occurs naturally as employees become aware of the environment around them.