Describe the First Step, Collecting Data, of Developing a Management

question 99

Essay

Describe the first step, collecting data, of developing a management information system. Define internal and external data sources with several examples of each.

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Definitions:

Ohio Uniform Commercial Code

A collection of laws that govern commercial transactions in the state of Ohio, part of a larger uniform effort to harmonize the law of sales and other commercial transactions across the United States.

Federal Common Law

A body of law developed by the federal courts that applies nationwide, based on judicial decisions rather than statutes.

Unilateral Contract

A contract where one party makes a promise in exchange for a performance by the other party, which acts as acceptance of the offer.

Express Contracts

An express contract is a clearly stated agreement between parties, where the terms are explicitly mentioned either orally or in writing.