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Definition : Management Information System is basically a planned system of storing,collecting and disseminating data in the form of information which is needed to carry out the functions of management in an organization or individual desk.
In oher words, an MIS is an information system that analyzes, evaluates and processes the data of an organization data to produce useful and meaningful information based on which the management can take right decisions to ensure further growth of the organization.
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“Information Technology is a generally used term which describes any technology that heps to produce, manipulate, store the communication information.”
Management information system, or MIS, broadly refers to a computer-based system that provides managers with the tools to organize, evaluate and efficiently manage departments within an organization.
Thus, informaton technology and information system are closely related, as IT sector helps in providing the effcient softwares and tools to manage the activities of the organizations.
Managerial Decision-Making :
Decision-making process is a cognitive and productive process whih results in the selection of a course of action among several given alternative scenarios and test-cases. It is a daily activity process for any human being. There is no other exception about that. When we take into account the business organizations and MNCs, managerial decision-making is a habit and as well as process.
Effective and successful decisions will always result in profits, while unsuccessful ones may cause losses. Therefore, corporate decision-making is the most critical process in any organization, which should be taken care of.
In a managerial decision-making process, we choose one simple course of action from a few possible provided alternatives.
In the process of decision-making, we may use many tools,methods, techniques and perceptions. In addition to this, we may make our own personal decisions or we may prefer a collective group decision.
Usually, decision-making is hard. Majority of corporate decisions involve some level of discourage and dissatisfaction or conflict with another party.
Decision-Making Process :
Identification of the Purpose of the Decision
Information Gathering
Principles for Judging the Alternatives
Brainstorm and Analyze the Choices
Evaluation of Alternatives
Select the Best Alternative
Execute the decision
Evaluate the Results
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Functional Aspects Of MIS :
MIS is an integrated collection of functional information systems, each supporting particular functional areas. MIS Strategic planning for an organization involves a long-term policy decisions-making, like place for a new plant, a new product, diversification etc.
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1. FINANCIAL MIS : It provides financial information to all financial managers in an organization.
It performs the following functions:
Profit/Loss and Cost Systems Management
Auditing Reports
Uses and Management of funds in accounts
2. MANUFACTURING MANAGEMENT MIS : The manufacturing MIS subsystems and outputs monitor and controls the flow of materials, products and services through the organization.
3. MARKETING MIS : The basic goal of marketing is to satisfy the needs of the customers.
The business functions are concerned with the promotions, planning and sale of existing products and service in existing market.
It also deals with development of new products and services for new market to potential customers in future.
Thus MIS plays important role by providing managers with many functional information systems. Actually marketing was the first functional area to exhibit an interest in MIS.
For example, for interactive marketing- MIS can provide information about prospectus customers who can become
partners for making and improving the product and services.
4: HUMAN RESOURCE MIS : Concerned with all of the activities related to employees and potential employees of the organization.
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5 : ACCOUNTING INFORMATION SYSTEM :
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