Brief Description of MIS | Objectives of MIS
Management Information System (MIS) Management Information System is defined as the formal method of collecting required information in summarized form. It is concerned with providing systematic and analytical information to all levels of managers and supervisors. It can also be defined as the scientific way of collecting; processing, storing, and communicating information relating to the various activities of an organization to the various levels of management so that management may be facilitated in discharging its functions efficiently and run the organization in an efficient manner for the betterment of all. With the help of provided information to the managers, there is possibility of taking right decision at the right time.
Objectives of Management Information System (MIS)
1) To provide managers, a systematic and accurate information
It is the primary role of MIS to provide up-to-date access and accurate information to the managers within an organization. These information could be anything from stock levels, sales reports, no. of clicks on a webpage. Information in an organization are manipulated differently by different level of managers and supervisors. Different managers require access to different kinds of data, and an MIS can provide that specific access, allowing managers to think tangibly for effective utilization of resources within an organization.
2) To manage strategic plan
Drawing a strategic plan is important aspect of an organization, so as to lead towards its predefined objectives. Most of the company, either smaller or bigger companies use MIS to help manage the strategic plan. To implement new strategic plans within an organization, it is not easy as there could be some hindrance in implementation. But this hindrance can be eliminated using the information provided by MIS. MIS helps to gather and analyze data that relate to targets. It constantly monitors progress and provides transparency about the steps employees are taking to achieve the goal.
3) To take a competitive advantage
Getting information is not sufficient for effective functioning of workforce. Managers still need to make decision based on that data or information and properly manage the information to create a competitive advantage over other businesses in the same market. By using and manipulating the data, an organization predicts the near future trends and implements the strategic activities. MIS helps interpret the data in such a way that it could make offer to customers lowering prices with better value.
4) To help getting things done quickly and efficiently
MIS will be instrumental in getting the things done by providing quick and timely information to the manager or management team. Thus, it then helps to implement the data using available resources in a better way. Ultimately it accelerates the rate of work implementation within an organization.
5) To organize effective report
Report defines the performance of each and every person, materials, money, machinery and management. It enlights the utilization of resources in the organization. MIS prepares report on production statistics regarding rejection, defective and spoilage and their effect on costs and quality of the products.
6) To Control costs in an organization
MIS keeps record of various fields of data, and analyzes the overall data. Interpreting that data, it helps to control costs by giving information about idle time, labour turnover, wastages and losses and surplus capacity. By making comparison of actual performance with the standard, variances are brought to the notice of the management by MIS which can be corrected by taking remedial steps.
Summary
The objective of MIS is to provide information for decision making on planning, initiating, organizing, and controlling the operations of the subsystems of the firm and to provide a synergistic organization in the process. It facilitates the decisions-making process by furnishing information in the proper time frame. This helps the decision-maker to select the best course of action. It provides requisite information at each level of management to carry out their functions. It provides a system of people, computers, procedures, and interactive query facilities, documents for collecting, and storing, retrieving and transmitting information to the users.
It is the primary role of MIS to provide up-to-date access and accurate information to the managers within an organization. These information could be anything from stock levels, sales reports, no. of clicks on a webpage. Information in an organization are manipulated differently by different level of managers and supervisors. Different managers require access to different kinds of data, and an MIS can provide that specific access, allowing managers to think tangibly for effective utilization of resources within an organization.
2) To manage strategic plan
Drawing a strategic plan is important aspect of an organization, so as to lead towards its predefined objectives. Most of the company, either smaller or bigger companies use MIS to help manage the strategic plan. To implement new strategic plans within an organization, it is not easy as there could be some hindrance in implementation. But this hindrance can be eliminated using the information provided by MIS. MIS helps to gather and analyze data that relate to targets. It constantly monitors progress and provides transparency about the steps employees are taking to achieve the goal.
3) To take a competitive advantage
Getting information is not sufficient for effective functioning of workforce. Managers still need to make decision based on that data or information and properly manage the information to create a competitive advantage over other businesses in the same market. By using and manipulating the data, an organization predicts the near future trends and implements the strategic activities. MIS helps interpret the data in such a way that it could make offer to customers lowering prices with better value.
4) To help getting things done quickly and efficiently
MIS will be instrumental in getting the things done by providing quick and timely information to the manager or management team. Thus, it then helps to implement the data using available resources in a better way. Ultimately it accelerates the rate of work implementation within an organization.
5) To organize effective report
Report defines the performance of each and every person, materials, money, machinery and management. It enlights the utilization of resources in the organization. MIS prepares report on production statistics regarding rejection, defective and spoilage and their effect on costs and quality of the products.
6) To Control costs in an organization
MIS keeps record of various fields of data, and analyzes the overall data. Interpreting that data, it helps to control costs by giving information about idle time, labour turnover, wastages and losses and surplus capacity. By making comparison of actual performance with the standard, variances are brought to the notice of the management by MIS which can be corrected by taking remedial steps.
Summary
The objective of MIS is to provide information for decision making on planning, initiating, organizing, and controlling the operations of the subsystems of the firm and to provide a synergistic organization in the process. It facilitates the decisions-making process by furnishing information in the proper time frame. This helps the decision-maker to select the best course of action. It provides requisite information at each level of management to carry out their functions. It provides a system of people, computers, procedures, and interactive query facilities, documents for collecting, and storing, retrieving and transmitting information to the users.
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