Answer to Question #189923 in Management for shubham

Question

Tanishq Jewellers want to set up MIS in their organization in order to manage the information better across the organization. Can you guide them about the same along with the characteristics, components, advantages and limitations? 

Answer 1

Answer.

Management information system (MIS) posses a wide range of characteristics that contributes to its effectiveness.The characteristics are being developed under directions of a good management. Another aspect is having common data that flows during its functioning. It is also based upon the business future needs of an organization or company.Another important characteristic is in exhibiting flexibility together with having sub systems that are well composed.

MIS is also made up of components. They are five in number and very essential. The components are software, hardware, business processes , data and people.The five work together in order to achieve a common business objective.

MIS has the following advantages:

It is able to improve the ability of management to enhance the evaluation performance.It is good in cost reduction.Another advantage is in offering Bette customer service to there clients.It is additionally responsible for giving information to suppliers together with ensuring that there is a continuous availability of the systems.

management information system has its own limitation in relation to its operation. The first one is that it requires close monitoring because of the high sensitivity used.It is also difficult to badger for MIS.It is not flexible in allowing necessary updates .It works in the fact that quality of output depends on the input quality.Lastly, MIS is limited to qualitative factors therefore ignoring the non qualitative ones.