Answer to Question #197518 in Management for shivani

Question

conclusion of 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? (10 marks)

Answer 1

Management Information System (MIS) is a hardware and software hybrid that focuses on data management and decision-making. Tanishq Jewelry's data will be properly stored and handled.

Characteristics of Management Information System (MIS)

·        Integration- Is the ability to produce more meaningful information. For effective production there are factors required to be balance they include production and capacity.

·        Central database-holds functional systems together. It makes it easier for easier access of customers, inventory and vendors.

·        System approach-The data system follows a system approach. Monitors the performance of an organization to the objectives aligned.

·        Used for the future- produce meaningful information used in the future reference. They include capacity, workforce, production and overtime rates.

·        Long-term planning—Planning is a must-have skill. The MIS is created with the organization's needs and goals in mind.

·        Organizational planning must involve a business strategy if it is management-oriented.

Components of MIS

a)     People Resources-People are required in the information systems also in the Jewelry operation systems.

b)     Software Resources-instructions of processing information.

c)     Data Resources-Holds processed and organized data.

d)     Hardware Resources- All materials used in information processing.

Advantages of MIS

•Better management decisions

•Better planning

•  Improved supervision and control

•There will be customer satisfaction

Limitations

•High cost-You have to be on toes with the change of things. Cost factor creates a quagmire in most organizations due to new computerized systems.

•Requires high maintenance- There might be website or server crash that leads to the loss of information. To tackle such an issue, require maintenance cost.

•Training of employees is required-Employees should have the knowledge on how information systems are managed. Due to competitive environment employees have to be trained therefore resources and time is consumed.