IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 3 NO. 10 2017

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A Review of the Principles, Components and Applications of Management Information System

G. O. Anyanwu and O. C. Okeke

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Abstract

Management Information System (MIS) is a system by which information is collected, processed and provided to management to facilitate decision making in an organization. It is a formal mechanism for gathering, and supplying necessary information to managers to help them in performing their functions effectively. The main objective of management information system is to assist managers in making timely and informed decisions. The principles of management information system include: recognition and management of complexities within an organization; adoption of management information system practice by all staff of the organization; and effective/ extensive communication within an organization. The basic components of management information system include: inputs (collection of data from various sources); processing (conversion of data into information); analyzing (evaluation of information for various uses); and output (supplying the processed information to managers at the right time and place). Management information system is generally applied in assembling, processing, evaluating, storing, retrieval, and disseminating manner to managers in various levels or areas of management such as financial management, manufacturing management, marketing management and human resource management (or personnel management). With the vast information emanating from both in and outside the organisation, computers have become the main tool of management information system. They have revolution management planning and control as they have provided up-to-date and timely reports to management.

keywords:

Management Information System, Principles, Components, Applications, Decision Making.

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