Final answer:
Decision makers recognize that information is essential in business, influencing the success or failure of their ventures. It helps in the economic use of resources and guides decision-making even with imperfect data. Information is key to strategic planning at every level.
Step-by-step explanation:
Decision makers are beginning to understand that information is not just a byproduct of conducting business, but a critical factor in determining the success or failure of a business. Information overload is an everyday challenge in the information age, affecting both simple and complex decision-making processes. Whether choosing what to have for breakfast or deciding on a media organization's resource allocation for covering events, information is fundamental to economics because it allows for the best possible use of scarce resources.
In a world where imperfect information is often all that's available, it becomes even more important for decision makers in business to actively seek out and utilize information to navigate through uncertainties and make informed decisions. This holds true at all levels, from individual choices to state strategies where the risks and rewards of potential actions are weighed based on the accessible information.