"Information is the central ingredient of an emerging world economy. Changes in the access to and utilization of information, making decisions about information, and managing those decisions is essential.Organizations need to analyze their specific and general environment. The specific environment includes the people, groups, and organizations with whom that company interacts. The general environment of an organization consists of the political, economic, sociocultural, technological, environmental, and legal factors (PESTEL factors).

The current trend is knowledge transfer and, in particular, education for those who must make decisions on how best to use information. "Turning information into knowledge and then managing it is a challenge for future businesses."

What concepts reasoned with you from last week's lecture?