Skip to main content

ATTRIBUTES OF THE INFORMATION

  1. THE ACCURACY IN REPRESENTATION - The test of accuracy is how closely it represents a situation or event. The degree of precision will decide the accuracy in representation.
  2. THE FORM OF PRESENTATION - Forms are qualitative or quantitative, numeric or graphic, printed or displayed, summarized or detailed. Appropriate form is important.
  3. THE FREQUENCY OF REPORTING - How often the information is needed? How often it needs to be updated?
  4. THE SCOPE OF REPORTING - The coverage of information in terms of entities, area and range, and the interest shown by the recipient or the decision maker.
  5. THE SCOPE OF COLLECTION - Internal from organization or external to organization.
  6. THE TIME SCALE - It may relate to the past, the current and the future and can cover the entire time span.
  7. THE RELEVANCE TO DECISION MAKING - The information has relevance to a situation and also to a decision making. The irrelevant information is a data.
  8. COMPLETE FOR THE DECISION CONSIDERATIONS - The information which covers all the aspects of the decision situation by way of scope , transactions and period is complete.
  9. THE TIMELINESS OF REPORTING - The receipt of information on time or when needed is highly useful. The information arriving late , loses its utility as it is outdated.

Comments

Popular posts from this blog

Advantages and Disadvantages of EIS Advantages of EIS Easy for upper-level executives to use, extensive computer experience is not required in operations Provides timely delivery of company summary information Information that is provided is better understood Filters data for management Improves to tracking information Offers efficiency to decision makers Disadvantages of EIS System dependent Limited functionality, by design Information overload for some managers Benefits hard to quantify High implementation costs System may become slow, large, and hard to manage Need good internal processes for data management May lead to less reliable and less secure data

Inter-Organizational Value Chain

The value chain of   a company is part of over all value chain. The over all competitive advantage of an organization is not just dependent on the quality and efficiency of the company and quality of products but also upon the that of its suppliers and wholesalers and retailers it may use. The analysis of overall supply chain is called the value system. Different parts of the value chain 1.  Supplier     2.  Firm       3.   Channel 4 .   Buyer

CONCEPTUAL VIEW OF MIS

The concept is a blend of principles, theories and practices of management, information and system giving rise to a single product called MANAGEMENT INFORMATION SYSTEM . The concept of management gives high regard to the individual and his ability to use the information. MIS gives information through data analysis. While analyzing the information, it relies on many academic disciplines like management science, OR, organization behavior, psychology, etc. The foundation of MIS is the principles of management and its practices. MIS uses the concept of management control in its design and relies heavily on the fact that the decision maker is a human being and is a human processor of information. A MIS can be evolved for a specific objective it is evolved after systematic planning and design. It calls for an analysis of business, management views and policies, organization culture and the management style. The MIS,therefore relies heavily on systems theory.The systems theory offers soluti