The Importance Of A Management Information System

Modern organizations use a variety of resources to fulfill their objectives regardless if the company is a multinational or small entity, they all have a set of resources they depend on to achieve their goals. Part of the resource relied on is Information, and this information needs to be managed to optimize its value to produce the best stakeholder value they can. In order to manage these resources, Information Management systems are put in place.

* A marketing information system is a management information system designed to support marketing decision making. A system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis.

Information system is a combination of hardware, software, infrastructure as well trained personnel who organized and facilitate planning, control, coordination and decision making within an organization. Information systems are also able to implement a vital integrated set of components for collecting, storing, and processing data. With this, it provided organizations with the necessary information, knowledge, and digital products needed. Information system bring the meaning of business applications that manage their operations, compete in the market place, manage accounts and human resources. This system have a vast variety of components that are crucial for a enterprise, business to function at his highest level, IT software is responsible that all system are reliable and up to date.

In the previous section we determined the impact of management information on decision making process within an organisation. One of the Critical Success Factors (CSF) that enables effective decision making is “Information sharing”. This allows managers to take the right decision at the right time.

According to Boddy (2008), management refers to the process of bringing together individuals with the sole intention of achieving desired objectives, aims and goal using available resources effectively. Composed of several vital tenets, this paper seeks to

Information is the lifeblood for decision makers. One of the ways, firm collect information is through a marketing information system. MIS is a process that first determines what information Marketing Managers need then it gather, sort, analyses, store and distribute relevant and timely marketing information system uses. The MIS system includes four important components.

Information management is paramount for any business because in the current business environment, no business can be successful without the effective manipulation information. The analysis of the information relevant to the business helps to accomplish the organizational goals. In the growing age of the information technology the information management system helps to find the appropriate information in an easy manner. The business includes a lot of information that is not necessarily important for decision making

Management information systems, also known as MIS, are computer systems that direct business and organize operations or files. Many people wonder why

On the first assumption listed “Management needs more information” and Ackoff’s contention I have to disagree with certain parts of it. The assumption that MIS systems are

3 1.1. 1.2. 1.2.1. 1.2.2. 1.3. 1.4. Data and information as source of management information ............................................................... 3 Gathering management information and making decisions ................................................................ 4 Environment Scanning ...................................................................................................................... 4 Management Information and Decision Making .............................................................................. 5 Managing Information Systems at DTZ ............................................................................................... 6 Strategic Importance of Information management at DTZ................................................................... 7

The purpose of this report is to explain what “Management Information Systems” (MIS) is. This report will discuss how management information system helps different departments in an organization. The functions and advantages of using MIS will also be examined in this report.

An information system is a base in today’s business world. Everything is electronic. In various businesses, the survival and ability to succeed strategic business goals is challenging without extensive use of information system. Businesses improve the efficiency of their operations in order to accomplish higher profitablity. Besides that, information systems are important tools available to managers for achieving higher levels of efficiency and productiviy in business operations. For an example, Zara uses the PDA technology to gather customer feedback and input.

Ackoff identifies five assumptions commonly made by designers of management information systems (MIS). With these assumptions, Ackoff argues that these assumptions are in most cases not justified cases, and often lead to major deficiencies in the resulting systems, i.e. "Management Misinformation Systems." To overcome these assumptions and the deficiencies which result from them, Ackoff recommends that management information system should be imbedded in a management control system.

Written in 1990, this book is still ahead of its time. The issue of data and information incongruence continues to be a hot-button issue in every boardroom. A "must" for every manager concerned with meeting the challenges of the 21st century. Examines the differences between data and information in a new light, and shows precisely how misunderstanding those differences can affect the quality of the decision-making process.

Over the past hundred years management has continuously been evolving. There have been a wide range of approaches in how to deal with management or better yet how to improve management functions in our ever changing environment. From as early as 1100 B.C managers have been struggling with the same issues and problems that manager's face today. Modern managers use many of the practices, principles, and techniques developed from earlier concepts and experiences.