Management Information Systems Overview

Study Notes

Management Information Systems (MIS)

A system in MIS is a collection of connected components working together for tasks like collecting, processing, storing, and distributing information for decision-making, coordination, control, analysis and visualization.
System components include:
- Input: Data or information gathered from the environment or users.
- Processing: Transforming input data into useful information.
- Output: Information shared with users or other systems.
- Feedback: Information used to adjust or improve system performance.
- Control: Mechanisms for ensuring effective system operation.
A business process is a series of tasks to achieve a specific organizational goal (like manufacturing or customer order processing).
A business process flow diagram visually represents business processes with activities, decision points, and inputs/outputs.
MIS roles in business include:
- Data Management: Collecting and storing data.
- Decision Support: Providing accurate, timely information for decision-making.
- Automation: Automating routine tasks and processes.
- Analysis: Identifying trends, opportunities, and issues from data.
- Coordination: Facilitating communication and coordination across departments.
Cloud computing delivers computing services (servers, storage, databases, etc.) online to enable fast innovation, flexible resources, and cost-effectiveness.
Hershey faced ERP system issues during Halloween, leading to disruptions, delayed orders, and a drop in stock price. This was due to poor system implementation, a rushed rollout without proper training or change management.

International Business

Global business involves the production and sale of items across countries, affected by factors like international trade, supply chains, and cross-border regulations.
PESTEL factors (Political, Economic, Social, Technological, Environmental, Legal) influence business decisions and strategies.
Tariffs are taxes on imports/exports that affect prices, trade volumes, and profitability.
Arbitrage exploits price differences in different markets to make a profit.
Adaptation tailors products/strategies to local markets, while aggregation standardizes them for broad economies of scale.
Foreign Direct Investment (FDI) involves a company investing in assets in another country for greater control.

Hospitality

Memorability is crucial in hospitality for repeat business, word-of-mouth referrals, and positive brand image.
Hospitality majors focus on creating memorable events, experiences, and customer service.
Industry management emphasizes operational aspects of hotels, restaurants, etc.
Vita Nova is a student-run dining experience where hospitality students gain practical management experience.

Sport Management

Walter O'Malley was instrumental in relocating the Brooklyn Dodgers to Los Angeles.
Sport management competency encompasses skills, knowledge, and abilities needed to operate effectively, like marketing and finance.
Analytics helps sport organizations make data-driven decisions about player performance, financial management, and fan engagement.
Related careers include sports marketing, event management, team management, facilities management, and sports analytics.