Effective planning and controlling are most important task in any organization. The effective performance of these tasks depends on various factors which requires relevant information.
The management information system – MIS provides the required information for effective functioning of the business organization.
A for-profit company actives competitive advantage when its profits increase significantly most commonly through increased market share.
Since good decision making requires quality data and timely information, a Management Information System is specially designed to provide information on a timely basis.
Managing information is about designing and implementation management information system that turns raw data into something useful – information.
An MIS also provides different types of information based on user’s need to improve effectiveness and efficiency. For management to functions as the business grows and becomes more complex, formalized management information systems - MIS are required that will provide information reliably and consistently.
Information system performs three important functions in a business enterprise:
*Support of business operations
*Support of managerial decision making
*Support of strategic competitive advantage.
Management Information System in Business
