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Explain how the MIS ( Management Information System) function area can leverage , information, data and knowledge in terms of competitive advantage - Essay Example

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In other words the competition in the world is on an increase and the firms are looking out to different options through which they can tackle the…
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Explain how the MIS ( Management Information System) function area can leverage , information, data and knowledge in terms of competitive advantage
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Extract of sample "Explain how the MIS ( Management Information System) function area can leverage , information, data and knowledge in terms of competitive advantage"

Download file to see previous pages The system itself can be designed in such a way that it can control the information of the business so as to provide it with a competitive advantage. The system can be used differently and this essay would revolve around the particulars of this system as to how it can help the businesses flourish in a competitive world.
Management Information System is defined as a set of technologies which include hardware and software along with human elements so that the decision making process of the respective business can be made easier (Bidgoli, 2010). This clearly tells us that the system is a way through which the businesses can integrate information and present accordingly to the relevant individuals. The system is designed to simplify decisions and carry out processes through which the decisions are made quickly and efficiently. In general the firms are given competition in the industry through different means. Porters Five Forces allow to understand these competitive forces as they tend to exist in the industries accordingly. These five forces revolve around products, bargaining power of customers and suppliers and the threat of new entrants. Management Information System takes a leap on these five forces to ease it on the business who will use the system in an efficient manner (Laudon & Laudon 2013).
MIS should always be aligned with the objectives of the business so that it can be used efficiently to break down the threats of the competitive forces. Information Technology should always be constructed in a way so that the profitability of the company is increased with every step that the business takes. Information technology works by the methods of numbers and the business should always identify its goals and strategies with the help of the system. The progress of the businesses can be monitored with the help of information technology and this in turn would help the stakeholders decide in accordance to the ...Download file to see next pagesRead More
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