Management Information System in Organizations
UNIT 1
Introdution
We are living in an era characterized by Globalization and liberalization. Far reaching changes across borders are sweeping nations and we are all getting engulfed in a boundary – less “Global Village”. But this emerging scene also necessitates people to develop the ability of “Thinking Globally and Acting Locally” which is now also referred to the “Glocalistion”. Business operations have become; and are going to become; more and more complex and competitive.
The increased Business Complexities could be attributed to:- 1. Technological Revolution. 2. Research and Development. 3. Changes in Product / Product life Cycle. 4. Explosion of Information.
The increased Management Complexities could be attributed to:- 1. Management Science Technologies. 2. Decision – Making. 3. Onset of Computers. 4. Information Feedback System.
These complexities have in turn necessitated:- 1. Strategic Planning. 2. Setting of Objectives (Parameters). 3. Devising Operational Plans. 4. Obtaining / Processing / Storing; Retrieving and using information for decision – making.
Hence; information is today seen indeed accepted and recognized as an invaluable source to ensure effective and efficient decision – making thereby ensuring optimality of results leading to survival and prosperity of the Business Organization.
Information is Resource because:- 1. It is scarce. 2. It has a cost. 3. It has alternative uses. 4. There is an opportunity cost factor involved if one does not process information.
Many a times; we really do not have the information we want and then there is a dilemma. The dilemma is beautifully expressed in the following words; generally referred to as Fingales Law of Information:-
“The information we have,
Is not what we want,
The information we want
Is not the information we need,
The information we need,
Is not available”.
Hence; it is said that,
“Don’t give the manager,
What
Introdution
We are living in an era characterized by Globalization and liberalization. Far reaching changes across borders are sweeping nations and we are all getting engulfed in a boundary – less “Global Village”. But this emerging scene also necessitates people to develop the ability of “Thinking Globally and Acting Locally” which is now also referred to the “Glocalistion”. Business operations have become; and are going to become; more and more complex and competitive.
The increased Business Complexities could be attributed to:- 1. Technological Revolution. 2. Research and Development. 3. Changes in Product / Product life Cycle. 4. Explosion of Information.
The increased Management Complexities could be attributed to:- 1. Management Science Technologies. 2. Decision – Making. 3. Onset of Computers. 4. Information Feedback System.
These complexities have in turn necessitated:- 1. Strategic Planning. 2. Setting of Objectives (Parameters). 3. Devising Operational Plans. 4. Obtaining / Processing / Storing; Retrieving and using information for decision – making.
Hence; information is today seen indeed accepted and recognized as an invaluable source to ensure effective and efficient decision – making thereby ensuring optimality of results leading to survival and prosperity of the Business Organization.
Information is Resource because:- 1. It is scarce. 2. It has a cost. 3. It has alternative uses. 4. There is an opportunity cost factor involved if one does not process information.
Many a times; we really do not have the information we want and then there is a dilemma. The dilemma is beautifully expressed in the following words; generally referred to as Fingales Law of Information:-
“The information we have,
Is not what we want,
The information we want
Is not the information we need,
The information we need,
Is not available”.
Hence; it is said that,
“Don’t give the manager,
What