Information and knowledge needed by Hearththrow to enhance effective decision taking in their Airport Expansion
In order to make effective decisions, Heathrow authorities will need to gather different types of information and knowledge. Firstly, the authorities will need to gather different forms of quantitative data that are relevant to the decision-making process. Qualitative data is the descriptive or textual information that is in non-numerical format (Ivancevich, Michael & Konopaske, 2011). For instance, they will need to gather qualitative data about the views and preferences of different stakeholders such as customers, employees, managers, shareholders and the surrounding community regarding the proposed project (building a runaway and building an airport). Secondly, the authorities will need to gather quantitative data, which is in numerical format, regarding the project (Ivancevich et al., 2011). For instance, the authorities will need to gather data on the cost of materials, human resources and other expenses involved in building the two projects. The authorities will need to asses official information, such as the cost of materials and unofficial information, such as the personal views of stakeholders. The authorities will need to asses the policies formulated by government agencies, such as taxation policies for airports and opinions advanced by the key stakeholders, such as political leaders regarding the expansion of the airport. Further, they will need to asses primary information, such as the financial reports of the existing runaways and secondary information, such as processed research findings by different scholars regarding the expansion of expansion of Heathrow (Ivancevich et al., 2011).