What are the components and characteristics of management information system (MIS) ?

Management Information System (MIS) is an organized approach to study the information needs of an organization's management at every level in making operational, tactical, and strategic decisions. The three components of MIS are: Management: It may be thought of as the sum total of activities related to laying down plans, policies, and purposes; securing men, money, materials, and machinery for goal achievement; putting them into operation; checking performance; and providing material rewards and mental satisfaction to the personnel. Information: It is a source for increment in knowledge. In MIS, it is obtained by processing data into a form meaningful to the users. System: It is a set of components that operate together to achieve a common objective or multiple objectives. These objectives are realized in the output of the system. An efficient system uses its inputs economically in producing its outputs. An effective system produces outputs that best meet the system's objectives. Some of the main characteristics of MIS are listed as under: Comprehensiveness: MIS is comprehensive, taking inputs from transaction processing systems and processing information for users at all levels. Co-ordinated: MIS is centrally co-ordinated to ensure information flow among sub-systems and efficient operation. Sub-systems: An MIS is composed of sub-systems or quasi-separate component systems that are part of the overall unified system, sharing the goals of the MIS and the organization. Integration: An MIS is rationally integrated, with sub-systems inter-related to make it more meaningful. Transformation of Data into Information: An MIS transforms data into information in various ways, determined by organizational personnel characteristics and task information needs. Enhance Productivity: An MIS enhances productivity by making routine tasks efficient, providing higher service levels, early warnings of problems/threats, facilitating management processes, and helping managers deal with unanticipated problems. Conforms to Managers' Styles and Characteristics: An MIS is developed recognizing the unique managerial styles and behavioral patterns of its users. Relevant Information: An MIS provides only relevant information. Uses Established Quality Criteria: An MIS is designed to required tolerances for timeliness, relevance, and accuracy, which vary by task and organizational level. Feedback: An MIS provides feedback about its own efficiency and effectiveness. Flexibility: It is designed to be easily modified, expanded for growth or new processing activities, and easily contracted. Modularity: An MIS is composed of many modules or sub-systems rather than being a single large system. Computerized: While possible without a computer, using computers increases the system's effectiveness.