Role Of MIS In Modern Business:
(1) Essential supplement of business management: The role of MIS in the overall business management is universally accepted.It is an essential supplement of business management. It performs various functions and offers useful services and this proves its constructive role in the modern business management.
(2) Helps in decision-making: Reliable information about all aspects of business is available through MIS. This suggests thatMIS plays an important role in planning and decision-making.
(3) Provides feedback: MIS provides feedback and this suggests its supportive role in business management. Managers at all levels need information. They analyze information, draw conclusions and take reasonably correct decisions. This suggests crucial role of MIS in the management of business.
(4) Provides accurate and timely information: It is rightly observed that modern business cannot function efficiently, if the information system at its disposal fails to provide accurate and timely information. This suggests the importance of information network, which serves as a key resource in business management.
(5) Provides information on business environment: Business activities are to be adjusted as per the changes in the business environment. MIS provides information about changes in the environmental factors and enables managers to take appropriate decision to adjust business activities as per the need. This is how MIS plays a supportive role in decision-making and follow-up measures in business management.
Marian HarperJr. has rightly suggested the importance of MIS. According to him “To manage a business well is to manage its future, and to manage future is to manage information”.
Thus, information management (collection, processing, tabulation, storage and easy reference) is an integral aspect of total business management. Policies, plans and decisions for .the future period can be designed accurately with the help of MIS. This suggests the role of information system in modern business. Correct understanding of total marketing environment is necessary for success, progress and prosperity of business. This is possible through MIS. Business can be made competitive as well as consumer-oriented by using the available market information in an intelligent manner. In brief, information serves as the life & blood of modern business. MIS plays a positive role in modern dynamic, competitive and global business.
52 Comments