1.1 Management Information System
Management Information Systems are primarily meant for providing information from the data after processing them. The information systems do not generate data. The data are generated, collected, recorded, stored, processed and retrieved after it has been generated by business operations in an organization.
MIS is a planned system of the collecting, processing, storing and disseminating data in the form of information needed to carry out the functions of management. MIS is designs for providing important information to personnel in the organization. MIS is managing information system and organized combination of people, hardware, software, communication networks and a data resource that collects, transform and disseminates information in an organization.
MIS is a subset of the over all internal controls of a business covering the application of people, documents, technologies and procedures by management accountants to solving business problems such as costing a product, service or a business-wide strategy. They are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization. Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. Decision Support Systems, Export Systems and Executive Information Systems. MIS generate information for monitoring performance and maintaining coordination. MIS extract process and summarize data from the TPS and provide periodic reports to managers.
1.2 Information System Components
A system is a set of related components that produces specific result. An information system has five key components. They are as follows:
Fig 1: Information...