Physical Structure Of Management Information System

somatogenetic complex body part Of focal point info SystemJump toPhysical Structure of steering nurture Systems rivetsing Information System TypesAdvantages of perplexity Information SystemsDis returns of Management Information Systems Management Information Systems in brimingConclusion and RecommendationsThe cover up on Management selective breeding frames reviews the role of info administration of ruless in an brass instrument. It is a brass by dint of which shaping soak ups an effective finale which facilitate to attain the boilersuit bearings of an make-up. A management Information System is a arranging which consists of people, computers and procedures for store and organizing of instruction that pull up s pips serving mangers to take close in an organization. It aims as to provide training to the acquit level tutors so that they fundament take effective lasts in an organization.Information system is a system which helps manager to induce ef fective decisions for an organization. Information system can be delimit as a set of interrelated comp wholenessnessnts that collect, fulfil, store and distri howevere reading to the management of an organization for devising effective decisions, to ensure coordination and control in an organization. (Laudon, 2006)Information systems consist of tuition related to people, places and things in an organization or outside the organization .i.e. the environment surrounding origin. (Laudon, 2006)Functions of an Information SystemInformation systems consist of three psyche(prenominal) activities which provide selective information to an organization to book relevant decisions, to control operations of an organization, to signalise problems and to create new products and services. one-third all-important(a) activities in an information system ar stimulation, plowing and output. (Laudon, 2006) introduce collects selective information from within the organization or from its outside(a) business environment. touch on converts the data to an single-valued functionful and meaningful form i.e. informationOutput helps to make lendable the processed information to the commitr of information. Output also provides feedback to the organization.Management Information SystemA management information system is a computerized system (Sarkissian, 2009) that is designed to provide utile information to an organization which will help them to make decision so as to attain their before long term and long term goals.MIS is a combination of people, computers and procedures for collecting and organizing information in an organization that is useful for decision making in an organization. (Sarkissian, 2009). MIS is an integrate system for gathering relevant data, convert it in to right information and supplying the relevant information to concerned executive thus it is a system to provide the right information to the right person at the right time.(management-hub.com)T he main objective of MIS is to provide necessary information to an organization so as to manage organization effectively. It is a chat dick amongst the top management and staffs that helps organization to attain their boilersuit goals.( Sarkissian, 2010)Physical Structure of Management Information SystemsA MIS is an organized system which consists of people, hardw are, and communication ne devilrks and data sources that collects, transforms and distrisolelyes information in an organization. It is a musical instrument which helps mangers in making decisions by providing regular flow of accurate information in an organization. (Sarkissian, 2009)The sensual components of an MIS include hardware, software, database, personnel and procedures.HardwareHardware consists of entirely physical components of a computer system care central processing unit (CPU), gossip devices, output devices, storage and communication devices. (Sarkissian, 2009)SoftwareSoftware is an interface between the information system and users of information system. Software can be of two types system software and applications. The system software includes the operating system and supererogatory purposes programs. Application is developed to fulfil a specific task. Software plays an important part in MIS. (Sarkissian, 2009)DatabaseA database is a centrally managed and organized compendium of data. Database helps to store data in an organized manner and to make in stock(predicate) to those who need that data. Database helps to reduce duplication of data as it is centrally managed data one data can be store at one place avoiding redundancy and duplication of data. (Sarkissian, 2009)ProceduresProcedures are essential for effective use of information system. Procedures consist of unhomogeneous instructions similar user instructions, instructions for input preparation and operating instructions. These instructions help in victimisation information system effectively. (Sarkissian, 2009) PersonnelNumber of personnel is postulate for death penalty of MIS wish salubrious computer operators, programmers, systems analysts and managers. Human beings are key requirements for implementation of MIS. In MIS both expert and managerial level people are required for proper implementation of MIS. (Sarkissian, 2009)Types of Management Information SystemsThere are 4 types of Management Information systems (Sarkissian, 2009) work processing systemsTPS is a type of MIS which immortalises a vast volume of recurring and routine data. They were introduced in the 1960 and are apply widely to mean solar day. TPS record transactions relating to inventories, new(a) materials, customers and sales. Many organizations use these systems to record day to-day transactions like lodges use these systems to record deposits and payments made into bevel estimates and Manager Use TPS to record transactions related to payments made to suppliers, customer billing and so on. (sarkissian, 201 0). These systems help manager to determine trends in data and help them to political program accordingly in order to achieve general organizational objectives.Operations information systemsThese systems were introduced after TPS. They doorway data from TPS and organize data into a useable form. They were basically employ to obtain data related to sales, inventory, and accounting and other performance related information. Operations information systems are used to plan and scroll production and accumulation functions. (sarkissian, 2010). They help managers to take various curial decisions like how much raw materials to be ordered, when to schedule production and when to assemble the final products. It also help managers to take decisions about the manpower which will be require in the production and assembly processes.Decision support systemsA DSS helps managers to make important decisions. It consists of three heavy componentsDatabase management system (DBMS) it stores larg e amount of data related to all problems the DSS has been designed to tackle.Model-based management system (MBMS) it helps to convert data from DBMS into useful information which help managers in decision making process.Dialog contemporaries and management system (DGMS), it provides a user-friendly interface between the system and the managers who are not experts in computer. (sarkissian, 2010).Expert systemsThese systems uses human knowledge stored in a computer to solve problems same as human beings. These systems recognize, uprise and solve a problem. They also explain their solutions and learn from their experience. (sarkissian, 2010)Advantages of MISMIS helps organization in their functioning. MIS record, process and tabulate all business transaction which helps organization to touch on to the relevant data and to make mitigatements in the business transaction where the organization feels that they are lacking behind. (Moorty, 2009)For example the organization can compare essential and projected sales and can take necessary steps to improve their sales performance. (Moorty, 2009)MIS helps the top management of an organization in great decision making. It also helps the top management to evaluate whether the allocated resources require been properly utilised and whether the targets are been met by each department.It helps to facilitate a two right smart communication process in an organization. (Moorty, 2009). The top management communicates to employees what is expected from them and employees question their problems to their top management. Therefore MIS ensure an effective communication in an organization.Facilitates preparation and controllingMIS provides relevant information from the top management to people working as staffs in an organization. It helps the top management to facilitate proper supplying of organizational activities by providing relevant data of aside and present. MIS integrates all information and ensures that each departm ent is aware of the problems and requirements of another department and thus leads to co-ordination in an organization. (management-hub.com)Relevant InformationMIS only provides relevant data by compressing the massive amount of data which helps management in quick decision making.Fast respondion to market changesMIS provides facts, data and trends which help organization to react immediately accordingly to the changes blow overing in the market. (Pirraglia, 2010)Competitive advantagesToday ambition is very strong in any industries. It is important for an organization to identify their competitive advantage in order to antitheticiate them in the market. MIS provides huge amount of data to management which help them to identify their competitive advantage and to make strategies to enhance their competitive advantages through their decisions. (Pirraglia, 2010)Disadvantages of MISMIS is a useful neb for management for making effective decisions for an organization. But there are legion(predicate) limitations of MIS which are as follows.MIS cannot be used on an individual basisMIS cannot be use independently in an organization. MIS provides only information which is useful for an organization but the interpretation and analyzes of the information requires human being and therefore MIS cannot use interpedently in an organization. (Moorty, 2009)MIS ExpenseMIS helps in effective decision making process but the implementation of MIS in an organization can be very dear(predicate) as all the divisions and processes of an organization should be reviewed. Training of new employees for the MIS can also add up to implementation charges. as well this the installation charges are also huge. (Vitez, n.d)Employee TrainingMIS helps in effective decision making through review of all the processes and operations of an organization and proper trained employees are important for MIS implementation. Employees are involved in all the operations and processes of an organizatio n and providing proper training to the employees will help the organization to achieve their overall objectives. (Vitez, n.d)MIS FlexibilityMIS once installed in an organization may prove to be inflexible. And Changes in MIS program may require huge costInformation FlawsMIS helps management in effective decision making by providing information to the management. The main disadvantage of MIS could be that MIS sometimes gives improper or unforesightful information to the management which makes it difficult for management in making decisions. (Vitez, n.d) abridgment and DiscussionExample Lakshmi Vilas coin bevelLakshmi Vilas Bank is a belt alongy developing private sector bank in India. The bank provides its banking services to several(prenominal) customers through a vane of 271 branches and 168 ATMs spread over 14 states and one union territory. (lvbank, 2010)The products of Lakshmi Vilas bank consists of business credit, home loans, rental loans, car loans, rearing loans, SME c redit facilities, NRI Services and online banking. It also provides mutual bills products and life insurance products of Aviva Life Insurance Co. Ltd. and general insurance products of Bajaj Allianz General Insurance Co. Ltd. (lvbank, 2010)The LVB has been whirl various technology products through innovative delivery channels like NEFT, RTGS, SMS Alerts, SMS Pull Services, Net Banking, ATMs Mobile Payments and E-commerce. (cxotoday)Online services provided by Lakshmi Vilas banktheme electronic Fund Transfer (NEFT)NEFT is an efficient, set and reliable system of funds transfer between accounts of customers of different banks. (lvbank, 2010) REAL TIME GROSS answer SYSTEM (RTGS) RTGS enables an efficient, secure and reliable transfer of funds between accounts of customers of different banks. (lvbank, 2010)INTERNET BANKING Internet banking allows customers to do their financial transaction from secure website of bank. Lakshmi Vilas Bank started internet banking on August 9, 2008. T his facility is forthcoming to all their customers, who regard to do online banking. (lvbank, 2010)SMS BANKING Lakshmin Vilas bank also provides SMS banking to their customers. Using the mobile customers can inquire about their account balance and the status of their cheque book (lvbank, 2010) Electronic Clearing Service (ECS)Lakshmi Vilas Bank provides ECS facility to their customers. It allows fund transfer electronically and it is generally used for bulk credit and debit transactions like distribution of dividends, interest, salary pension, payment of bills. (lvbank, 2010)Problems Faced By Lakshmi Vilas BankThe Banks systems were uneffective to provide collective information to the manager which resulted into delay in decision making process even during emergency. (Microsoft, 2009)The accounts and planning team spend a huge amount of time in collating financial data from 250 branches which was submitted in various format. Analyzing all these data and preparing statutory repor ts took valuable time and resources of the bank. (Microsoft, 2009)The efficiency of the bank was stirred due to lack of up to date information (Microsoft, 2009)Customers wanted straightaway information and more reliable information.Employees Productivity was affectedManagement was facing problem in their decision making process due to unavailable of proper information.Use of Information systems in Lakshmi Vilas BankLakshmi Vilas Bank International Visa Debit Card.The Visa debit cared introduced by Lakshmi Vilas Bank has help the bank to provide its new as hygienic as existing customers with the facilities to shop, pay their bills, book their movie or respiratory tract and rail tickets online. (lvbank, 2010)MPLS architectureIt is the first bank in Tamil Nadu to achieve 100% Multiprotocol Label Switching (MPLS) Architecture. The implementation of MPLS architecture helped LVB to reduce network operating cost as well as to provide high availability of network for the branches. It helped bank to better performance of the application at branches through lesser congestion o the network.MPLS architecture will help bank to reduce maintenance and operational cost of 21 hubs of their bank. (cxotoday) enterprisingness storage solutionLVB has acquired enterprise storage solution which is a alter system and will help bank to consolidate all its business database into one single system to effectively manage their customers. This solution has helped the bank to improve their overall efficiencies. (Information week, 2010)Datacraft IT security infrastructure and datacenter upgradingDatacraft is a provider of IT solutions and services. It had abandoned IT security infrastructure and datacenter upgrading to LVB which will help the bank to avail the get ahead of security for all their branches. (ciol, 2010)D2K technologiesThe bank chose MIS solution offered by D2K technologies while helped bank for consolidating real and accurate information for internal and compliance re lated reports.(Microsoft, 2009)Microsoft SQL legion 2008Microsoft SQL Server 2008 provides security and reliability to banks business applications. As Mentioned by chief technology officer of Lakshmi Vilas Bank which says that the speed with which they were able to provide information to internal stakeholders, customers and government departments has improved significantly. (Microsoft, 2009)Advantage of information Technology and MIS in the Lakshmi Vilas BankMIS in LVB helps the bank in their accurate reporting and functions of the bank. It helps them to plan their business activities, performance their business review and to exchange information in accurate time. (expressindia, 2001)Savings and Earning Potential UpMIS has help bank to nest egg in many forms. The branch is not busy preparing statement and the account department does not spend much of their time collating reports of 251 branches. On an mediocre each person saves almost 3 hours a day preeminent to huge savings in people cost. The systems has also helped bank to available all the data centrally and that is why the branches doesnt have to submit their report to central office. (Microsoft, 2009)Improves Financial Management conformityThe time spends on integrating of statements from 251 branches by the account department and planning department has been reduced by 30%. As state by assistant manager of Lakshmi Vilas Bank, Compliance and reporting to the RBI and other government agencies have become fast and accurate as per compliance requirements. (Microsoft, 2009)Dashboards Enable Management with Decision reservationThe decision support system type of MIS enables management in fast decision making process by providing tabular and graphically pattern of information. This system provides banks management by setting new goals by evaluating past trends. Each employee of the bank can access relevant and more secure information from central location. Customers and all stake holders of the bank can access relevant information from the bank. (Microsoft, 2009)Conclusion and RecommendationsInformation system is a system which helps management to take effective decisions for an organization. It is a tool which collect, process, store and reach information to the management. Information systems are useful for providing information rather than raw data to the management. Data only shows number whereas information provides logical intelligence of a figure.Information systems basically consist of data related to people, process and procedures inside the organization as well as it provides information of external business environment affecting the business.Information system performs the functions of processing of input into output .i.e. collecting of data and processing of the data into information and thereby helping managers in their decision making process.Management information system is a computerized system of providing information to the manager so that they can take long term and short term decisions in an organization.MIS is organized system which consists of people, hardware, and communication networks that collect data and transform that data into information.There are various types of Information systems based on different levels of organization i.e. strategic level appointing with the top most management for their long term decisions. Management level which deals with various managers with their plans and operational level that deals with the day to day activities of business.There are different types of Management information systems like Transaction processing systems that records huge volume of recurring and routine data like raw materials, inventories, customers and sales. Operations information systems track data from TPS and whose aim objective is to plan and schedule production and assembly functions. Decision support systems deal with making important decisions. Experts systems is a system which helps organization in puzzle out their problems like human beings through their past experience.MIS helps organization by providing various benefits like MIS compares the performance of an organization which helps managers to identify whether the organization is performing good or not. It helps management in their decision making process by providing useful information to them. It is a tool of communication between top level management and employees. It provides only relevant data to management by compressing huge amount of data. It helps to ensure better co-ordination in an organization. It helps partnership to identify their competitive advantage and help them to enhance the value of their products.Besides various benefits there are some limitations of MIS like MIS cannot be independently used in an organization. The expense of installing MIS is very huge. MIS is a technical product which requires organization to provide training to huge number of their employees. at once a MIS is installed it is very costly to chan ge that MIS system. Sometimes it may happen that MIS provides inadequate data which may not prove helpful for an organization.We have also taken example of Lakshmi Vilas bank in order to see to it the impact of information systems on the working of the bank. It helped this bank to increase the speed and accuracy of information flow in the organization as well as outside the organizationToday MIS is a useful tool of making effective decisions in an organization so it is very important that it should have no limitations. The cost of implementing MIS in an organization is very huge and is not flexible enough so it is important to make available MIS which doesnt cost much for an organization and which can accept changes.As stated earlier in our example of Lakshmi Vilas bank, the bank is using Information systems effectively and earning profits from it but there are many things bank should focus onWith the increase in technology Bank should update their IS so that they can provide their customer with better services and increase its productivity.The IS used in a bank should be more secure.Thus Management Information system helps management in their effective decision making process and help them to run their organization profitably.