Benefits of management information system , Management Information Sys

 

BENEFITS OF MANAGEMENT INFORMATION SYSTEM

An efficient Management Information System has many advantages. Some of them are given below: 

  1. Management Information System quickly provides  all sorts of information required for decision making at different levels of management.
  2. In the process of capturing data forms, one may find gaps, incomplete and incorrect data. The same are likely to be rectified or completed or filled in the process. 
  3. Management Information System makes decision making easy, accurate and less risky.
  4. Information flow from either direction is ensured and encouraged in the rank and file of managers. 
  5. Continuous monitoring and updating of information become imperative.
  6. Greatly helps long range planning with accurate forecasting trend analyses and preplanning information in budget preparation. Even operations planning and tactical  planning are provided with information inputs by MIS. Plan modelling (consisting of premising,  identification and comparison of alternative courses of action) is greatly aided by MTS.  
  7. MIS plays a crucial role in controlling managerial operations, monitoring performance and decentralised decision making through performance report, break-even analysis, financial ratios, etc. It calculates variations between budgeted and actual results, triggers revised forecasts and acts  as an  early warning systems for monitoring activities. In other words, MIS provides for control of information  which was  not previously available and for information sharing across departments. 
  8. MIS helps planning additional new facilities. 

 

By and  large, MIS helps libraries in  determining efficiency, effectiveness, competitiveness and performance, and facilitates collection of data, training and development of staff.  

Posted Date: 11/5/2012 6:43:10 AM | Location : United States







Related Discussions:- Benefits of management information system , Assignment Help, Ask Question on Benefits of management information system , Get Answer, Expert's Help, Benefits of management information system Discussions

Write discussion on Benefits of management information system
Your posts are moderated
Related Questions
Hello are there experts that can help me with my MIS projects. they are access and excel projects..

INFORMATION MATERIALS: Let us study in brief how information materials  are produced, the agencies that produce them and the information channels through which information abo

Use of System Methodology However, the systems methodology can be used:  As an aid in the choice of a commercially available I11 system,  as an aid in the design and i

Take two different MISs from the current business world as examples and compare the differences to show how organization to organization MIS differs. Propose a MIS for a company

Components of an IRS   Lancaster [1979] considers that an Information Retrieval System (IRS) comprises the following components:  i)  the document selection sub-system  ii

Problem : (a) What are the components of the internet value network? For each component, provide two types of service providers, drawing examples from actual companies you k

Invoice Analysis: Company involves have been provided a very useful source of information. A copy of an invoice is preserved and information form it may be punched tabulated;

QUESTION As virtually every aspect of society becomes increasingly dependent on information and communications technology, our vulnerability to attacks on this technology incre

We spent some time talking about data, especially through the number of articles from the Economist, including "Data, data everywhere",: • All too much • A different game • Clic

1. Using a range of sources, concisely outline the key recommendations in the literature on implementing change interventions within the OD approach. Reference your sources thoroug