LO1 - Sources of Information

2 Sources of Information:
Internal Information vs External Information.

Internal information is information which is only can available to the business. This information will be private and accurate. moreover, this information may take the form of sales figures, personnel records, customer records and the financial documents. Such as trading, profit, and loss accounts and the balance sheet.

External Information is this is information which comes from outside of the business. This is gathered via mainly secondary information methods such as the newspapers and magazines, the internet and etc.

References:

Bbc.co.uk. (2017). BBC - Higher Bitesize Business Management - Business information and ICT : Revision. [online] Available at: http://www.bbc.co.uk/bitesize/higher/business_management/business_enterprise/business_information_ict/revision/1/ [Accessed 14 Jun. 2017].