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Management Information Systems
Introduction
Whenever a new technology emerges, it is so predictable that a temptation wave passes through all the industry in the economy, ultimately resulting in an organized "Techno economy" System. Now, it is the enormous developing Information Technology System alone. No doubt with internet and intranet facilities, the latest trend in the information technology has changed immensely to the day to day routine work, thus enabling the business houses to get more accurate organized efficient and qualitative results. ... As applications were developed that provided managers with information about sales, inventories, and other data that would help in managing the enterprise, the term "MIS" arose to describe these kinds of applications. Today, the term is used broadly in a number of contexts and includes (but is not limited to) decision support systems, resource and people management applications, project management, and database retrieval applications.
MIS (Management Information Systems) is an integrated, user machine system for providing information to support operations, management and decision-making function in an organization. The system utilizes computer hardware, software, manual procedures, models for analysis, planning and control and decision making and a database. ... Olson, Second edition 2000, Management information systems conceptual foundations, structure and development. ... )MIS is a general term for the computer systems in an enterprise that provide information about its business operations. ... Typically, in a large corporation, "MIS" or the "MIS department" refers to a central or centrally-coordinated system of computer expertise and management, often including mainframe systems but also including by extension the corporations entire network of computer resources. ... The MIS applications provide managers with the information they need to monitor and control the processes and the plans for the future.
Evolution of Information Technology Tools:
The initial information technology tools that were utilized in the managerial world were for data collection and storage (Transaction Processing System) – a tool for systemizing the collection and storage of data needed for the management of the transactions, in which the enterprise entered into with its trading partner(s). This was followed by the realization that there was an enormous amount of data which is created by the organization (either internally from the interaction of the different functional areas or with the interaction with business partners) thus, a system which manages these data in an integrated manner was needed. To address these needs the Management Information System (MIS) concept was created, this system (theoretically) allowed the management to query the transactional database for summary as well as detailed report on any matter of interest on a routine or on exception basis. Unfortunately, the MIS concept could not be implemented at the organizational level as an integrated system, but was implemented within the functionally distinct areas like finance, purchase, audit, human resource management department etc. ... Together with the MIS concept there was a need felt for the development of systems that supported the management in decision making by providing the analytical and/or heuristic model(s) for decision making – the Decision Support Systems (DSS).
The evolution of the information systems characterize the evolution of systems from data maintenance systems, to systems that transform the data into "information" for use in the decision making process. Organizations had realized that information was a competitive tool that allowed them to perform better in the dynamic environment. These systems supported the information acquisition from the database of transactional data. ... Nowadays, we are in the middle of the change from the industrial era to the information era. ... The present study lays a theoretical foundation for a sound indicator explaining regional competitiveness in the information era.
The economy is considered as a self-developing complex system subjected to actions on the side of the governmental administration and the monopolies of equal strength.
Approximate Word count = 2982
Approximate Pages = 11.9
(250 words per page double spaced)
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