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The Value of Information in an Organization
The Management Information System (MIS) reflects an attitude by the executives that they want to the computer available to all of the firm’s problem solvers. ...
MIS provides information to the users in the form of reports and outputs from simulations by mathematical models. ...
Information is very valuable for a company as it plays a key role in the profitability and the survival of the organization. According to Lucas, Jr (2000), information is a tangible or intangible entity that serves to reduce uncertainty about some state or event. Nowadays information has become a valuable resource, just as much as capital infrastructure and people. For many organizations, the collection of information is essential for their continued running.
For organization, information can be valuable when it can be an aid for managers to make strategic decisions concerning the organization. In addition, information is also needed for the bureaucracy of designing, manufacturing and distributing a product or service. ...
However, good information should be pertinent, timely, accurate, and up-to-date. If information have these features, then only it is valuable. Complete, accurate and up to date information can help organizations to reduce costs and at the same time increase efficiency as it reduces uncertainty. ...
The role of Chief Information Officer (CIO)
Information is a foundation of managerial control. Any control system must communicate the right information at the right time and among the right people if it is to function effectively. ... Managers and other decision makers must have useful information regarding performance result if they are to make plans, provide support, and take other appropriate actions. ... A major portion of a chief information officer’s job involves searching for ways in which information systems can help the company. Moreover, chief information officer in organizations are relevant because of the increasing need to have greater corporate control of information systems. According to O’Brien (2002), the chief information officer oversees all use of information technology to many companies, and brings them into alignment with strategic business goals. So here, telecommunications, internet technology, computer systems and other information system support services of the company are the responsibility of the chief information officer.
The Role of Information Technology in Supporting Business Process
The MIS organizational subsystems contribute to problem solving in two basic ways.
• Organization-Wide Information resources
The MIS is an organization-Wide effort to provide problems solving information.
Approximate Word count = 1943
Approximate Pages = 7.8
(250 words per page double spaced)
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