Effect Of Financial Information Usefulness On Management Decision-Making Effectiveness In Colleges Of Education In The Upper West Region Of Ghana

Abstract

The study examined the Effect of Financial Information Usefulness on Management Decision-Making Effectiveness in Colleges of Education in the Upper West Region of Ghana. The researcher used quantitative design to assess the usefulness of financial information on management decision. For the purpose of the study, 100 out of 150 staff of the three colleges of education in the region constituted the sample size. Primary Data was collected from respondents using self-administered questionnaires. The data were analyzed using descriptive statistics and Analysis of Variance (ANOVA). The findings revealed that financial information was extensively used in the decision-making process across the Colleges of Education in the region. The study further revealed that there is significant challenges faced by management in utilizing financial information, including biases, bounded rationality, uncertainties, internal conflicts, and time constraints. Therefore, it is recommended that there should be proactive approaches to ensures that institutions remain dynamic and responsive to changes, maximizing the impact of financial information on decision-making. It further adds that management should prioritize the availability of financial information to enhance decision-making processes and the government should invest in the provision of training and capacity building in the financial management of college management staff.