In other words, information system is a support system for an organization. The purpose of Management Information system is to help executives of an organization make decisions that advance the organization 's goals. Theoretically, a management information system can exist without computers, but it is viable just because of computers. MIS has been defined in different ways but one of the most apt definitions is "an organizational method of providing past, present and projected information related to internal operations and external intelligence. It supports the planning, control and operation functions of an organization by furnishing uniform information in the proper time frame to assist the decision makers" (Waston, 1987).
2. Availability Operating-level data is frequently required to prepare status reports in different formats for various management levels in an organization. This information should be readily available and retrievable. Eg: if a customer wants to know the status of his order, or the management wants information on current inventory levels to make a commitment to some large client of strategic importance. LIS should be designed to respond to such queries immediately, as these are based on operating level information.
The functions of management define the process of management as provide a useful way of organizing information about management. First, one of the managerial functions is planning. A plan is a blueprint for action that predetermined the activities necessary for an organization to realize their goals. Planning defined as setting goals and defining the actions or strategies necessary
Leaders must establish objectives, which are statements of what they need to achieve. They must identify alternative courses of action for achieving objectives. Furthermore, they also make decisions the best courses of action for achieving objectives. The importance of planning which leaders should have, it would be, making precisely scoping of work and policy, is a tool for management that leads to an achievement. Organization is allocating human resources,
Importance: There are two aspects of data quality, the reactive components and proactive components. The reactive components of data quality helps in countering the problems which already exists in the corporations. The proactive components prevent the arrisal of new problems. Relationship between IT department and business plays an important role for the success. IT requires to understand business rules for the data to be managed as a corporate assets.
The system can identify non-profitable channel and reduce it, but at the same time this part is strategically important for company, so there are some data misunderstandings, which lead to weak strategic decision-making. Since the traditional accounting system (GAAP) tends to be norm for all businesses, Activity Based Costing system can be confused and lead to weak decision making along traditional accounting system. The company forced to have two accounting books and cost systems, one (GAAP) is provided for external users, second (Activity Based Costing) is for internal. Even if the company is going to implement Activity Based Costing system, financial managers should understand that they still would work with Traditional costing PLUS Activity Based Costing system. Activity Based Costing system is very sensitive to all types of information, even small part of information, which is not actually
Introduction Strategic management is a key element of every organization. It refers to the process of making strategic decisions, which set a long-term vision and direction for an organization. The major aim of strategic planning is throwing light on the unique strengths and potential weaknesses of an organization, thereby allowing it to identify new opportunities or threats that might hinder the performance of the organization. Therefore, the paper discusses the significance of strategic management and strategic planning, thereby focusing on the importance of values and goals. The paper also describes various factors affecting strategic planning, such as internal and external factors.
3.2 IMPLEMENTATION ACTIVITIES RELATED TO CONCEPT The practical importance of objectives in management can best be seen by summarizing how successful managing by objectives works in practice. Stages of Management by Objectives Process are Defining the organizational goals Defining employees’ objectives Continuous monitoring performance and progress Performance evaluation Providing feedback Performance appraisal Let’s explain each of the MBO process in details Defining the organizational goals To ensure organization effectiveness, there must be an established set of goals and they serve a number of purposes. Organizations can have several sets of goals and all them must be appropriately managed. Setting of goals usually involves different kinds of managers. Preliminary goals are set by the superiors based on an analysis and interpretation as to what can and what should be accomplished by the organization within a specific period of time Define Employees Objectives When you’ve ascertained that the employees’ managers have informed them of the general objectives, strategies and planning premises, the managers can get down to work with the employees making the objectives known to them.
Moreover, another core advantage of utilising this approach is to have the possibility of attaining a podium in the competitive marketplace and reducing the risk of the comprehensive business portfolio (Simerson, 2011). Roles and Responsibilities of Personnel Who Are Charged With Strategy Implementation However, all important roles and responsibilities of employees that are responsible for implementing the strategy are discussed below: Envisioning Future Strategy The function considers the appropriate key association in an interior and outer way. Moreover, the association is thought to be the internal party while the different partners are thought to be the outside parties. Organisational Alignment Each staff of the association is relied upon to be submitted in respect of procedure usage. These individuals are inspired to follow this procedure and need to have the engaging situation connected with the conveyance of the evolving viewpoint (Steiner, 2010).
Thus, there is a close relationship between the management of information and knowledge and the quality of the work in an organisation. Taking into account that technologies are necessarily means for transmitting and managing knowledge and information, as essential for development within each organisational element. With the emergence of the theory of organisation, the importance of information deepened. An organisation is made up of people, material resources and information, so organisations should be considered as information systems system. This work requires