Business Studies, asked by KARTIK9206, 1 year ago

Explain the nature and scope of management information system

Answers

Answered by aks59
12
Definitions..

Management Information System or 'MIS' is a planned system of collecting, storing, and disseminating data in the form of information needed to carry out the functions of management.


Management :---

Management covers the planning, control, and administration of the operations of a concern. The top management handles planning; the middle management concentrates on controlling; and the lower management is concerned with actual administration.


Information :----

Information, in MIS, means the processed data that helps the management in planning, controlling and operations. Data means all the facts arising out of the operations of the concern. Data is processed i.e. recorded, summarized, compared and finally presented to the management in the form of MIS report.



System :----


Data is processed into information with the help of a system. A system is made up of inputs, processing, output and feedback or control.

Thus MIS means a system for processing data in order to give proper information to the management for performing its functions.


Answered by MarkM
6

Management Information System is systematic process that allows business managers to collect, store, process and distribute information that is necessary for the smooth running of the business.

It aids management in monitoring the work process efficiency, in making vital business decisions and create ans summarize work reports.

The nature of management information systems is that it is based on corporate goals and aims to monitor how well the work done corresponds to business goals. It also makes it easy to make business decisions and to creating efficiency in business operations.

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