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MIS and how it translates to the bottom line :check: - Coggle Diagram
MIS and how it translates to the bottom line :check:
Technology advances
capabilities from IoT, blockchain, Web2.0 incorporated into business
creates distinction among fields
IS/MIS
DP: Data processing
IT
MIS evolves over time
MIS is now a necessity of all organizations
Initial concepts of MIS
Process data & present in form of reports
capable of handling data collection to processing
raw materials to finished product
required individuals to filter processed data for their needs
MIS in 21st century
enables globalizations
more advanced technology
makes possible effective management
enables economic growth
enables efficient operations
largely computer based
components of IS
procedures
hardware
software
databases
Human Resources
MIS function
assemble technology resources into infrastructure
transform into IS production
aid decision making
Different systems for different levels
executives
executive information systems
senior managers
decision support systems
middle managers
management information systems
workers
transaction processing systems
MIS responsibilities
support & training
maintenance
protection & security
implementation
hardware/software/services
MIS dept. to an organization
enhance products & services
enhance executive decision making
leverage investments
reach the customer
reduce costs
CIO responsibilities
establish credibility of IS dept.
develop IS and IT users
understand the business
create IS architecture
Value
Paradox of value
value is observed
value in exchange
value in use
components of value
sources
providers
creators
stakeholders
sinks(flows)
consumers
value adders
stakeholders
types
efficiency
evidentiary
efficacy
behaviors
use value
exchange value
Value in MIS
MIS systemizes business operations
An MIS can make or break a business
Organizations compete by provding value to the market place
Differentiation
Cost
Business resources are limited
labor
customers
capital
shelf space
Investment decisions
Buy
Rent
Share
Make