The Ultimate Goal Of Any Management Information Sy Essay

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“The ultimate goal of any management information system (MIS) is optimisation“(Jackson D. Ford 1987) 1. INTRODUCTION As above mentioned in the statement of Jackson D. Ford, an organisation wants to gain something or wants to improve its self from the management by creating some systems or by implementation of new procedures. An organisation whether product making or service provider, this kind of procedures or systems are adopted to provide better/quality product or services which provide an organisation better opportunity of survival in the market as a competitor and to make decisions easy for the betterment of the organisation on the long run. The author is going to make a report on Lloyd’s TSB Plc. following Management information system, theory of managing information systems and its vital importance to Lloyd’s TSB Plc. is explained and the process of information and sources of MIS components are discussed in this report. There are different sources and routes of MIS which delivers information to different departments of Lloyd’s TSB Plc. and executive information system utilises the information to achieve its targets by making different policies in favour of the bank. 2. MANAGEMENT INFORMATION SYSTEM / SERVICES (MIS) “An information system (IS) can be any organized combination of people, hardware, software, communications networks, and data resources that collect, transform, and disseminate information in an organization.” (Prof.Anatoly Sachenko)* Management information service or system is the combination of software and hardware used to process information automatically. MIS refers widely to a system which is computer based to provide decision makers by using the tools of evaluating, organising and running resourcefully their departments. Management information Services / system (MIS) is the system which makes a company or organisation able to

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