Some elements of the systems approach to the analysis of an information flow in a dynamic environment are proposed. The resulting control system is designed to enable a manager to structure an information exchange taking into account the effects of delay. It matches very frequent real-life situations in which the following should be answered: ‘What is better, complete information but heavily delayed or incomplete information less delayed?’ The paper is primarily concerned with the mathematical representation of the functioning of autonomous groups, i.e. groups which themselves determine information requirements, flow and processing. Emphasis is placed on the role of delay in an evaluation of information flow.