Why Are Management Information System Important For Businesses? Essay

Information Management System (IMS) refers to a database that integrates financial and other information in organizations from different levels of management and produces regular reports. Starbucks is one of the firms that have implemented IMS. This paper describes IMS for Starbucks, its impact on competitive edge and how it helps to coordinate supply chain partners and to monitor inventory levels. The paper also explains why managing information is better than moving products.

* 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.

| MIS is a tool that assists executives and the general workforce in performing any tasks related to the processing of information. MIS and business systems are especially useful in the collation of business data and the production of reports to be used as tools for decision making.

Learning Outcome 1.1: Describe the information age and the differences between data, information, business intelligence, and knowledge.

Laudon, K. L. a. J. Management Information Systems, 12/e for DeVry University (12th ed). Pearson Learning Solutions. Retrieved from http://devry.vitalsource.com/books/9781256399933/id/ch02fig07

To determine the effectiveness of the chosen information system, SUC will use the collective information gathered by people, procedures, databases, and devices within the organization, which is known as using the Management Information System (MIS). This process begins with decision making. There are three stages in decision making: intelligence, design, and choice. Problems are discovered and information of what has caused the problem or what is needed

2. Management Information Systems is a system that contains technology, information, and people, which are used to resolve business problems, such as the price of a product or other problems.

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

As I continue to work in an organization, I am very observant of the characteristics and actions of management. I watch management to see how they tick. I am curious to how management functions, what roles they play, and what skills they possess. In my last job, I witnessed a manager that struggled to do the basic management functions, no designated managerial role, and ineffective managerial skills. Basically, I learned that my previous manager how not to operate in management.

The management information systems implemented within an organisation can be paper, computer or human-based; serving to produce timely information, usually of a historical manner, to allow management to initiate business processes and form decisions (Cox, 2014).

Information management (IM) is the collection and management of information from one or more sources and the distribution of that information to one or more audiences; is also particularly critical to businesses that work in conjunction with other businesses, so the two must share information with, or transfer information to, each other. In addition, businesses with more than one department or unit can use the MIS to compile information in one central location, thereby preventing information loss.

MIS can deliver a great number of benefits to the enterprises in every industry and it is essential to any business’ success. It involves gathering of data and processing it to provide useful information which is relevant to the company's decision making process. Since MIS is crucial to the success of any business, being knowledgeable and skilful in the subject matter is a must.

From the above definition of a management information system the following overall conclusion can be reached: A management information system is a collection of people; tasks, systems, software, and technology used to provide routine pre defined information that is available to all members of the organization that need to have access to it. Management information systems provide a variety of reports and displays to management. Management information systems (MIS) retrieve internal information about an organization, and share to those who require it. What are the uses of a management information system? : “Strategic-level systems help senior managers plan the firm’s long term course of action.

A Report submitted to Prof. J.M. Shah for the partial fulfillment of the requirements for the subject Information Systems for Management under NMIMS University

There are very many types of information systems. Classification of information systems follows the organizational levels in which they are used or installed for use. For instance, there are management information systems; some of which will be covered in this project report. Management information systems (MIS), helps businesses meet their business objectives. Almost all organizations and businesses today use management information systems; be it large, small, startup or an established multi-national. This is for the sole reason that information systems have evolved from just being a tool to gain competitive advantage for businesses, to a vital tool, a necessity in the digital age we live in. Management Information Systems help managers make better-informed decisions and communicate with their superiors, as well as with all the stakeholders in the businesses their organizations are involved in.