Notes prepared by Lori-Rae

Alleyne-Franklin
Management Information Systems
Prepared by: Lori-Rae Alleyne-Franklin

These notes are to be used in conjunction with a textbook

and other resources.
• Management Information System (MIS) is the formal
mechanism for making available to management, the accurate
and timely information necessary to facilitate the decision
making process and assist the organisation in planning,
controlling and carrying out its operational functions
efficiently and effectively.

Notes prepared by Lori-Rae

Alleyne-Franklin
• A management information system (MIS) is a computer
system consisting of hardware and software that serves as the
backbone of an organization’s operations. An MIS gathers data
from multiple online systems, analyzes the information, and
reports data to aid in management decision-making.
Notes prepared by Lori-Rae
Alleyne-Franklin
• MIS Meaning: A management information system is an acronym of
three words, viz., Management, information, system.

• Management: Management is the art of getting things done

through and with the people in formally organised groups.

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Alleyne-Franklin
• Information: Information is data that is processed and is presented
in a form which assists decision-making. It may contain an element
of surprise, reduce uncertainty or provoke a manager to initiate an
action.

• System: A system is an orderly grouping of interdependent

components linked together according to a plan to achieve a specific
goal. The term system is the most loosely held term in management
literature because of its use in different contexts.
Notes prepared by Lori-Rae
Alleyne-Franklin
Accepting Information

Accepting Instructions

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Receiving Information

Processing Information

Sending Information to devices

Storing Information
An MIS has five objectives:

• Data capturing
• Processing data

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Alleyne-Franklin
• Storing data
• Retrieving data
• Disseminating data
Data Capture
Captures data from various internal and external sources.
It maybe manuals or electronic capture – typing in or
scanning in.

Notes prepared by Lori-Rae

Alleyne-Franklin
Data Processing
Once the data is captured it is processed; converted into
required information. Processing is done through various
activities; calculating, sorting, classifying and
summarizing.

Data Storing
An MIS stores process and unprocessed data for future
use. If information is not immediately required it is saved
for future use in records.
Data Retrieval
An MIS retrieves information that has been stored when
it is required.

Notes prepared by Lori-Rae

Alleyne-Franklin
Data Dissemination
Information and not data is a finished product of MIS.
This is disseminated to users of the organization
depending on command. Data is disseminated
periodically. This can be done online through a computer
terminal.
Establishing workflows and processes
Tracking data against users, contracts, organisations and
contacts.
Using ‘business logic‘ to manage funding validation, compliance,
input errors and more.

Notes prepared by Lori-Rae

Alleyne-Franklin
Generating granular, custom reports that can be used to review
anything from KPIs to attendance.
Notes prepared by Lori-Rae
Alleyne-Franklin
 Management Information System (MIS) plays a significant role in
the decision-making process of any organization. In any
Decision making organization, a decision is made on the basis of relevant
information which can be retrieved from the MIS.

Coordination
Management Information System satisfy multiple need of an
among the organization across the different functional department.
department

Notes prepared by Lori-Rae

Alleyne-Franklin
As we know that MIS provides relevant information about every
Finding out aspect of activities. Hence, if any mistake is made by the
Problems management then MIS, information will help in finding out the
solution to that problem.

Comparison of MIS store all past data and information in its Database. That why
Business the management information system is very useful to compare
Performance business organization performance.

Today each business is running in a competitive market. An MIS

Strategies for an supports the organization to evolve appropriate strategies for the
Organization business to assent in a competitive environment.
Notes prepared by Lori-Rae
Alleyne-Franklin
Notes prepared by Lori-Rae
Alleyne-Franklin
• Demand in economics refers to the willingness and ability of
consumers to purchase a product at a particular price over a
given time period.

Notes prepared by Lori-Rae

Alleyne-Franklin
• Demand in economics is the consumer's desire and ability to
purchase a good or service. It's the underlying force that
drives economic growth and expansion. Without demand, no
business would ever bother producing anything.

Notes prepared by Lori-Rae

Alleyne-Franklin
• When the price goes up the quantity demanded goes down.
• When the price goes down the quantity demanded goes up
• Negative relationship or inverse relationship between quantity
demanded and price.

Notes prepared by Lori-Rae

Alleyne-Franklin
Notes prepared by Lori-Rae
Alleyne-Franklin
Notes prepared by Lori-Rae
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Notes prepared by Lori-Rae
Alleyne-Franklin
• A demand schedule is a plotting of demand for goods and
services as part of economic analysis. The demand schedule
refers to a table depicting the demand in quantity terms for
goods or services at varying price levels. The plotting of a
demand schedule on a graph depicts the quantity on the X-
axis and the price on the Y-axis.

Notes prepared by Lori-Rae

Alleyne-Franklin
Notes prepared by Lori-Rae
Alleyne-Franklin
• These are factors that influence a change in demand:
• A change in price of other goods
• A change in taste and fashion
• Expectation of a future price change or shortage
Government policy

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Alleyne-Franklin
•
• A change in real income
• A change in the size and composition of the population
• The demand curve is a visual representation of how many
units of a good or service will be bought at each possible
price. It plots the relationship between quantity and price
that's been calculated on the demand schedule, which is a
table that shows exactly how many units of a good or service

Notes prepared by Lori-Rae

Alleyne-Franklin
will be purchased at various prices.
Notes prepared by Lori-Rae
Alleyne-Franklin
• Supply is a fundamental economic concept that describes the
total amount of a specific good or service that is available to
consumers. It refers to the willingness and ability of
manufacturers to supply goods and services at a particular
price during a certain period of time.

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• Supply can relate to the amount available at a specific price or
the amount available across a range of prices if displayed on a
graph.

• This relates closely to the demand for a good or service at a

specific price; all else being equal, the supply provided by
producers will rise if the price rises because all firms look to
maximize profits.
• Supply and demand trends form the basis of the modern
economy.

• Each specific good or service will have its own supply and
demand patterns based on price, utility and personal
preference. If people demand a good and are willing to pay

Notes prepared by Lori-Rae

Alleyne-Franklin
more for it, producers will add to the supply.

• As the supply increases, the price will fall given the same level
of demand. Ideally, markets will reach a point
of equilibrium where the supply equals the demand (no
excess supply and no shortages) for a given price point; at this
point, consumer utility and producer profits are maximized.
• Supply and demand trends form the basis of the modern
economy.

• Each specific good or service will have its own supply and
demand patterns based on price, utility and personal
preference. If people demand a good and are willing to pay

Notes prepared by Lori-Rae

Alleyne-Franklin
more for it, producers will add to the supply.

• As the supply increases, the price will fall given the same level
of demand. Ideally, markets will reach a point
of equilibrium where the supply equals the demand (no
excess supply and no shortages) for a given price point; at this
point, consumer utility and producer profits are maximized.
https://www.shopify.com/encyclopedia/managem
ent-information-systems-mis
https://shopinverse.com/blogs/technical-
support/how-management-information-system-

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Alleyne-Franklin
works
https://www.cognisoft.co.uk/blog/features/what-
is-mis/
https://www.geektonight.com/what-is-mis/
Notes prepared by Lori-Rae
Alleyne-Franklin