Management Information System Prefinals

It is a type of information system that supports management decision-making by providing various types of reports, such as regular summary reports, exception reports, ad hoc reports, and other types of recorded information. The information in these reports, in turn, helps managers to control their areas of responsibility better, as well as allocate their resources efficiently in order to pursue organizational goals.

These are types of budgeting information systems that permit managers to track and compare actual revenues and expenses in order to produce estimates for expected revenues and expenses. It also allows managers to compare current budget amounts to those of prior fiscal periods, other divisions, other departments- even to industry-wide data. Comparisons of budget data against such standards allow managers to assess how they use their resources to achieve their goals.

This system produces cash flow reports, which show the estimated amount of incoming and outgoing cash for a specific timeframe (usually monthly). This allows managers to manage cash on hand to ensure continued operation or facilitate possible expansion

·         – This system focuses on producing information for the acquisition or disposal of assets for a given timeframe. Using evaluation tools and the system’s data, a manager can compare information from current and previous timeframes in order to evaluate possible plans of asset acquisition (purchasing, leasing) and disposal (selling, refurbishment, or repurposing).

This system produces reports that allow a manager to oversee an organization’s investments in stocks, bonds, or other securities as a separate, but nevertheless important aspect of cash management. Trading data managed by the system will allow management to ensure the achievement of organizational goals without compromising financial assets.

It is a type of information system that also has the ability to generate reports, but also has the capacity to create expected and unexpected output, such as comparative and descriptive information, summarized data as opposed to detailed data, data sources, and information processed from subjective and objective data.

This information systems usually work in tandem with operational information systems for marketing and finance through various means, such as processing of operational data. This allows tactical decision-making by marketing management, such as the implementation of marketing plans in order to reach sales and profit margins set by higher management.

This system allows managers to assess the productivity of a sales force, the profitability of certain locations, and the success of the products further categorized by salespersons, location, and target demographic. It keeps track of activities, sales, orders, and customer activity, which allows a manager to identify points of interest in terms of location, performance, and demographics. Other specific processes include a comparison of performance to goals of a salesperson, analyze activities within operating territoriesor demographic, identify customer trends, and identification of potential supply and demand issues.

·         This particular system governs advertising and promotional tactics in order to achieve sales goals set by upper management. Managers must decide which advertising media and promotional devices to use to reach the selected market segments when to use these media and devices, and what overall mix of promotional activities to deploy to achieve sales goals.

·         This system provides information to managers that allows them to set prices for products and services. Managers can employ marketing strategies to determine sales volumes and profitability margins based on market volatility.