DEFINE MANAGEMENT INFORMATION SYSTEM? DISCUSS ITS OBJECTIVES. Definition:
Organized approach to the study of information needs of a management at every level in making operational, tactical, and strategic decisions. Its objective is to design and implement man-machine procedures, processes, and routines that provide suitably detailed reports in an accurate, consistent, and timely manner. Modern, computerized systems continuously gather relevant data, both from inside and outside the organization. This data is then processed, integrated, and stored in a centralized database (or data warehouse) where it is constantly updated and made available to all who have the authority to access it, in a form that suits their purpose. Objectives of MIS:
• How is the market currently allocated?
• Which are the competitors product offer to hold share in the market? • Pros and cons of this product
• Customer set of each of these products
• Money spent in advertising
• In what stage of the product life cycle in each product. DISCUSS THE ROLE OF MANAGEMENT INFORMATION SYSTEM IN THE ORGANISATION STRUCTURE? * The role of the MIS in an organization can be compared to the role of heart in the body. The information is the blood and MIS is the heart. In the body the heart plays the role of supplying pure blood to all the elements of the body including the brain. * The MIS plays exactly the same role in the organization. The system ensures that an appropriate data is collected from the various sources, processed, and sent further to all the needy destinations. The system is expected to fulfill the information needs of an individual, a group of individuals, the management functionaries: the managers and the top management. * The MIS helps the clerical personnel in the transaction processing and answers their queries on the data pertaining to the transaction, the status of a particular record and references on a variety of documents. * The MIS helps the middle management in short them planning,target setting and controlling the business functions. It is supported by the use of the management tools of planning and control. * The MIS plays the role of information generation, communication, problem identification and helps in the process of decision making. The MIS, therefore, plays a vita role in the management, administration and operations of an organization. DISCUSS THE VARIOUS CATEGORIES OF MIS & THEIR ROLE IN DECISION MAKING. Management information systems can be used as a support to managers to provide a competitive advantage. The system must support the goals of the organization. Most organizations are structured along functional lines, and the typical systems are identified as follows: Accounting management information systems: All accounting reports are shared by all levels of accounting managers.
Financial management information systems: The financial management information system provides financial information to all financial managers within an organization including the chief financial officer. The chief financial officer analyzes historical and current financial activity, projects future financial needs, and monitors and controls the use of funds over time using the information developed by the MIS department.
Manufacturing management information systems: More than any functional area, operations have been impacted by great advances in technology. As a result, manufacturing operations have changed. For instance, inventories are provided just in time so that great amounts of money are not spent for warehousing huge inventories. In some instances, raw materials are even processed on railroad cars waiting to be sent directly to the factory. Thus there is no need for warehousing.
Marketing management information systems: A marketing management information system supports managerial activity in the area of product development, distribution, pricing decisions, promotional effectiveness, and...