How the Components of the Marketing Information System help to provide the solutions for marketing department? • Internal records The first component of Marketing Information System is ‘Internal Record’. Marketing managers get lots of information from the internal-records of the company. These records provide current information about sales, costs, inventories, cash flows and account receivable and payable. Inside records help marketing managers of the Co-operative Rural Bank to gain faster access to reliable information.
The third point from the definition is that information management is for the benefit of all levels of an organization. In many organizations, information management is often perceived as being a control mechanism for the benefit of senior managers or shareholders. Information management should be as much about aiding decision making across and between all levels of the organization as it is for senior planners and decision
Excess knowledge is not fully used, so it is important to make sure that the activities that were previously carried out were executed correctly. It is imperative to understand that using knowledge determines the needs of the organization and should serve as a reference for the creation, storage, and ways of sharing knowledge. It is possible that other gaps will be discovered when knowledge is applied. Therefore the global process of knowledge management must be carried out continuously to ensure that it is integrated into the knowledge management initiative (Fahey 2010, p.114). Knowledge management at British Petroleum British Petroleum (BP), one of the oil companies with the most experience in knowledge management, declares that thanks to it, it has obtained significant improvements in the development of its businesses.
Meanwhile, Jennifer (2014) defines management information system as an approach that gathers, and manipulates data (information) and gives it to administrators at all echelons who utilizes it , for decision-making, designing, programme execution and control. She agrees with other previous researchers, that, the management information system consists of all parts that gathers, processes, and distributes data or information. She reiterates that the management information system contains software and hardware, people, communications gadgets and
Introduction Data is one of the essential resources of an organization, as other critical business resources, thus it should be reasonably secured. This is particularly essential in today's expanding business atmosphere. Because of this expanding interconnectivity, data is presently introduced by an increasing number and a more extensive range of dangers and vulnerabilities. Data can obtain in many structures - a composed of paper, printed documents, saved electronically, transferred by a traditional mail or electronic mail, or it can be expressed by means of conversation. Whatsoever the approach or method by which data is obtained, it should be properly secure.
CONCPT OF KNOWDEDGE MANAGEMENT AND ITS ROLE IN RELATIONSHIP MARKETING: KNOWLEDGE MANAGEMENT: The process of capturing and distributing of knowledge is known as knowledge management. According to literature of knowledge management, knowledge is mostly specified as explicit or tacit. The specification is simple though, the important thing is that it is confusing. The purpose of knowledge management is to make sure that the specific information is given to the correct person on correct time to make correct decision for the specific matter that would be the appropriate use of knowledge and the purpose knowledge management needs. GOAL: The goal of knowledge management is to improve the organizations decision making quality skills, by ensuring
A management information system (MIS) provides information that is needed to manage organizations efficiently and effectively. 1.1 Describe the Basic characteristics of an effective Management Information System. 1. Management-oriented: Management information system of the basic goal is to provide information to support management decision-making organization. So an effective management information system should be statistics from the management requirements of the assessment, business the organization 's mission and goals.
The more knowledge it assimilates, the more powerful it becomes, and this clearly portrays the need to keep itself continually updated, so that it is conditioned and fit to win in the marketplace at all times. There is a long history for Knowledge Management (KM) efforts. It has been developed from simple activities such as having corporate libraries, discussion forums, mentoring programs, and professional training to more advanced efforts with the advance of information technologies and the wide use of computers such as group decision support systems, expert systems, knowledge systems, and knowledge repositories. Moreover, Internet has an important role in spreading and sharing knowledge across the world. As knowledge progressively turns into the key asset without bounds, the needs to create thorough understanding of knowledge methods for the creation, exchange and organization of this extraordinary resource are getting to be basic.
15). And the same goes to the words management. Information management itself plays a vital role in our society, and of course it does play a lot of role and there are various reasons on why the information management is important to us. As we can conclude, information management it is not only involves a communication but it also involves an action. Either through communication, or action, information can be shared to others.
The identification of the organisational structure and a better understanding of the methods for determining the authority and the distribution of responsibility are essential in the determination of information in an economic entity. Instead, the necessary information defines the structure of the collected data and processing activities from management accounting information system. Management accounting information also very important in control method. Management accounting sustains the verification process of the method and the extent to which the proposed objectives have/have not been accomplished, elaborating the reports that should indicate the actual performance opposed to the proposed objectives. Controlling implies monitoring the implementation of policies, correction of any abnormalities, and provides information that allows the analysis of any deviation from the budget and the right decision