In Bill Gates book, Business at the Speed of Thought
, he sends a clear message.
"How you gather, manage, and use information [in business] will determine if you win or lose."
Gates gives numerous examples to validate the fact that in today's competitive markets it is vital to have a steady and efficient flow of information. Firms need this information in order to deliver constant learning and feedback to their teams. For many firms information is channeled to the executive team then percipitates down the chain. But Gates argues that while middle managers are often given less information they are the ones that require the most.
Gates asks the following question to diagnose your firm's information flow:
"Do you have the information flow that enables you to answer the hard questions about what your customers and partners think about your products and services, what markets you are losing and why, and what your real competitive advantage is?"
Overall the book is an insightful read and the ideas are easily applicable to your firm.