What is a management information system (MIS)?
Management information systems (MIS) has an overall objective of enhancing the operations of a business by providing timely information to company’s management. MIS is defined as a formal method of collecting timely information in a presentable form so that it can facilitate effective decision making and implementation, in order to carryout organizational operations for the purpose of achieving organizational goals.
Some characteristics of MIS include:
Management orientation – MIS is panned according to the information needs of management. For designing the MIS, the information needs of all management levels from top to bottom are assessed.
Management directed – As MIS is management oriented (e.g. management directs the establishment and implementation of MIS in the organization.)
Integrated system – MIS is an integrated system which coordinates the information from different areas to cater to the information needs of the managers efficiently. Management information systems are composed of various subsets. Some of the subsets of MIS that you should be familiar with consist of accounting information systems (AIS), Decision support systems (DSS), and executive information systems (EIS).
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