The Importance of Information Management System - Research Paper Example

Assignment Cover Sheet Business Informatics Case Studies, Semester 2, 2013 Management Information Systems Student Name: Naila Aziz Student ID: u3069532 Tutor Name: Dr Saif Dewan Course Code: 7160 Date: 08/11/2013 Abstract Management Information Systems (MIS) have been considered to be distinct from several other automated information systems since they facilitate the analysis of data with the view of strategizing operational activities. The systems are applicable at operational, management and strategic levels. They utilize both data and information to ensure efficient and effective administration of organization in all its functional areas. This study established the importance of management information systems and sought some lessons on how managers can interact and learn from these systems. The study was carried out in the city of Canberra which identified 20 small businesses in manufacturing, processing and financial sector. Questionnaires and interviews were administered and analyzed using descriptive statistics. The results showed that management information systems are essential in all areas of the organizations and have gained popular use. It also found that the systems have allowed functions and business to interact and learn hence improving the efficiency of the work areas. Management information systems have received widespread application in both Small and Medium sized Enterprises (SMEs) as well as corporate hence allowing for information exchange vertically. This study helps to reiterate the significance of information management systems in beating competition and improving the market share. Table of Contents List of Figures 5 1.0 Introduction 6 1.2 Statement of the Problem 6 1.3 Motivation towards Conducting this Study 7 1.4 Research Questions 7 1.5 Significance of the Research 8 2.0 Literature Review 8 2.1 Management Information Systems (MIS) 8 2.2 The evolution of Management Information Systems (MIS) 9 2.3 Information system and organizational structure 10 Operational level systems 10 Management Level Systems 11 Strategic Level Systems 12 Figure 1: Interaction between information systems and the business 13 Figure 2: MIS system hierarchy 15 3.Research Methodology 15 4. Findings 18 5.Analysis 19 6.Discussion 21 Figure 3: Interaction of Management Information Systems 22 Sales and Marketing system 22 Manufacturing and Production Systems 23 Finance and Accounting Systems 24 Human Resource 24 Effectiveness of Management Information Systems (MIS) in enhancing the quality of service and profitability 25 Interaction, Learning and Sharing 27 7.Conclusion 27 Reference list 29 List of Figures Figure 1: Interaction between information systems and the business 13 Figure 2: MIS system hierarchy 15 Figure 3: Interaction of Management Information Systems 22 1.0 Introduction Management information systems avail information that enables business organizations to manage themselves effectively and efficiently. They are typically computer information systems which facilitate the management of five important components. These components include the hardware, software, data, procedures, and the human resource. Data refer to the information which facilitates decision making within an organization, and this means that this is the component that is actually manipulated by all the others in an endeavor to achieve the organizational objectives (Essvale Corporation Limited, 2008). Management information systems have been considered to be distinct from several other automated information systems since they facilitate the analysis of data with the view of strategizing operational activities. Indeed, academicians consider these infrastructures as facilitators of the manner in which organizations, groups, and individuals evaluate, blueprint, implement, and improve systems. The goal is to generate information for the purpose of enhancing effectiveness and efficiency (Fong, 2011). 1.2 Statement of the Problem A range of data has been obtained with regard to the significance of Information Management System as well as automated Information systems. These considered how the tangible and the intangible aspect of Information technology has improved the speed of conducting business, communication, sharing information and accumulating a databank for any business to determine the level of profitability and market share (Davis 2003). However, there is little information to show how these systems enable interaction among small businesses and enhance learn from one another. This study investigated interaction and learning among small businesses with regard to management information systems. 1.3 Motivation towards Conducting this Study The objective of this study was to evaluate the manner in which small businesses in the city of Canberra can share experiences. The research evaluated the way in which such information sharing can enable such businesses to grow irrespective of the turbulences in the market place (Banker & Kauffman 2004). The study was justified by the fact that management information systems have proved to be among the most essential infrastructures which facilitate the business operations in many big and successful companies around the world. 1.4 Research Questions The research objectives were; 1. To evaluate the effectiveness of such assistive technologies as the Management Information Systems in enhancing the quality of service and profitability of small businesses within the city of Canberra. 2. To seek the revelation of the advantages, disadvantages, as well as the reliability of sharing experiences amongst these businesses in Canberra. 1.5 Significance of the Research Management information systems are crucial to business organizations as they allow for effective and efficient management. Business functions will be able to balance the connection between hardware, software, procedures, data, and the human resource so as to facilitate decision making within the organization (Agarwal & Prasad 2008). Manipulation of these components enables all the stakeholders to achieve the organizational objectives. It also facilitates the analysis of data with the perspective of strategizing operational activities. In broader view, these systems act like facilitators in a way to which evaluation of organizations, groups, and individuals are done. They are essentially blueprints for implementation and improvement systems. 2.0 Literature Review 2.1 Management Information Systems (MIS) Management Information Systems (MIS) have been established to enable efficiency, competitiveness, interaction and learning from small businesses and corporate companies. Management structure has been facilitated by systems offering role and responsibilities in line with the established hierarchy. Managers and staff can identify customers and determine their needs and wants (Argyris 2001). The various systems at management level are sales and marketing, financial and accounting, human resource and finally production and manufacturing systems. These functions plans and develops services and products that satisfy their needs. Information systems on sales and marketing supports contacts to customers, sale of services and products order takes and sales follow up. Marketing analysis workstations are supported by marketing systems and knowledge-level sales. Therefore, management use of the MIS system is for pricing analysis since it determines the prices of services and products (Banker & Kauffman 2004). Production and manufacturing systems are involved in development, planning, and production facility maintenance. The other functions are storage, acquisition, production materials availability, and scheduling of labor, materials, facilities and equipment needed for fashion finished products. 2.2 The evolution of Management Information Systems (MIS) The evolution of Management Information Systems corresponds to five main phases, and the phases are unique to the computing technology. The evolution commenced with mainframe computing. It then progressed into the minicomputer computing (Dickson & Simmons 2000). Much of the success witnessed today became achievable after the personal computers were invented. Later, client/server computer networks were developed, and this is where enterprise computing proves to be of relevance. Of late, there has been the development of a new and more powerful platform, and this is referred to as cloud computing (Yamagata-Lynch, 2010). The systems allows for interaction and learning through management of financial assets of the firm like stocks, bonds, cash and other investments meant to maximize financial asset returns. The system is crucial in determining how a firm achieves best investment returns and obtains sizeable information from external sources (Baskerville & Myers 2002). The maintenance and management of the accounting function is mainly in disbursements, receipts, payroll and depreciation. There have been major challenges in this function which required management systems especially relating financial assets current inventory and existing records for payroll, receipts, disbursements, and other flow of funds. The role of human resource is developing, attracting and retention of the workforce in the firm (Culnan 2006). The systems support activities like creating programs founded on employee skills and talents and keeping complete records of current employees. The development of management information systems is widely referred to as the system development. It commences with the feasibility study, then it progresses into analysis, design, implementation/computer programming, testing, production, and finally the maintenance (Davis 2003). All these steps proceed in a specified manner. Nonetheless, a number of them may be repeated as others are accomplished concurrently. Conversion has always been the process through which the old systems are enhanced in an endeavor to exploit new opportunities with ease. All these steps require close cooperation amongst the key stakeholders since none of them can make a perfect system single-handedly (Yamagata-Lynch, 2010). 2.3 Information system and organizational structure Operational level systems Sales and marketing systems at operational level helps in location and contact to potential customers, sales tracking, and customer service support and order processing. The inventory master files have basic data on each item and re-order points (Dishaw & Strong 1999). The systems allows for learning and decision making on re-order, stock-out and calculation of least expensive reorder quantity. Tracking funds flow in the firm via way like paychecks, receipts and security reports are carried out by operational systems. Training and modeling of employee career paths are done by knowledge systems. The operational levels track placement and recruitment of employees by the firm. Management Level Systems Sales and marketing systems at management level supports advertising, market research, pricing decisions and promotional campaigns. The systems help in sales staff performance analysis and sales performance. Information systems at management level assist managers to control and oversee the financial resources of the firm. The role of management in this aspect is budgeting through preparation of short-term budgets (Essvale Corporation Limited 2008). Management level employs the production planning system which decides how and when many of the products should be generated. This is a support aspect using inventory system to provide data of every item in inventory like the units depleted because of purchase or shipment. The system generates information on the available items in the inventory that can support production and manufacturing activities. Management has a lot to do with monitoring the distribution and range of salaries, wages and benefits (Zigurs & Buckland 2004). It is mainly compensation analysis. The managerial level captures the managers’ capability to analyze and monitor allocation, recruitment and employee compensation. Strategic Level Systems Strategic level of planning in sales and marketing have systems on sales and marketing that monitors trends deemed to affect planning of new services and products sales opportunities, new products, and monitoring competitor performance. Long term investment goals are undertaken by strategic level systems providing for financial performance long-range forecasting (Zigurs & Buckland 2004). Analytical tools and workstations are supported by knowledge systems through a design of the correct investment that maximizes profits. Manpower requirements like educational level, skills, cost and positions are carried out using human resource systems at strategic levels. This helps to meet long-term business plans. Research study by Marchewka (2006) has indicated that there are various types of management information systems. These include the decision support, expert, as well as the executive information systems. In organizations such as colleges, universities, and other learning institutions, the managements set up MIS departments, and these departments are assigned the roles of supporting operations being undertaken in the marketing, finance, accounting, as well as several other departments. In this case, they serve as the spinal cord of the business operations in these institutions (Marchewka, 2006). According to Yamagata-Lynch (2010), management information systems avail important information to the managers. This information is the one which enables them to arrive at key decisions. Previously, organizations utilized computers while undertaking such simple operations as billing, sales, tracking of inventory, and the preparation of payrolls. Back then, the employees paid little attention to structure or fine details. With time, complex computer applications have been designed. This has been prompted by the increased storage capacity of computer systems as well as the improvement of technologies. These technologies have facilitated the connection of applications which were previously isolated. The successful storage and linkage of pieces of data prompted managements in various organizations to seek enhanced abstraction. The stakeholders did also manage to get into the finer details of any business operation, meaning that more accurate management reports could be produced (Yamagata-Lynch, 2010). Figure 1: Interaction between information systems and the business About two decades ago, MIS described those applications which provided the management with data relating to inventories, sales, and other pieces of data which were deemed important in the management of enterprises (Ekins et al., 2011). As time went by, the term has been broadened to include resource management, decision support systems, enterprise resource and performance management, human resource management, supply chain management, as well as project management. The operations of these systems are facilitated by the database retrieval applications (Fox & der Waldt, 2008). The present versions of management information systems avail a wide variety of data to the management. The data in question is availed in form of Periodic Scheduled Reports. The reports have specified formats, and are designed to avail the management with appropriate information on regular bases. In many organizations, Exceptional Reports are only produced in case there is an exceptional condition. Reporting exceptions reduces data overload, and this means that decision makers are not largely overwhelmed with unnecessary periodic and detailed business reports (Ekins et al., 2011). Figure 2: MIS system hierarchy The reports and responses on demand are usually available whenever the managers wish to access and assess vital information. Report generators, DBMS querying languages, and web browsers empower the managers into getting an appropriate set of information (Fong 2011). This means that they do not have to wait for periodic reports, even though these reports do usually offer detailed business activities. Another facilitator in the management of information is the Push Reporting. Push Reporting refer to the pieces of information which are pushed directly to the management’s networked workstations. Moreover, webcasting software tools are also being utilized for the purpose of facilitating selective broadcasts of reports as well as several other vital pieces of data (Baroudi et al., 2009). 3. Research Methodology The study utilized both qualitative and quantitative strategies while seeking to meet the expected goals. While the use of qualitative techniques facilitates the expansion of views, it sometimes proves to be biased. By combining the two strategies, the study was able to enhance precision, and also eliminate bias. A survey as well as a case study was used. Survey method is quantitative while case study is qualitative (Vessey, Ramesh & Glass 2002). Survey uses an interpretive approach while a case study uses a deductive approach. This is a case study of businesses in Canberra city, Australia. The survey involves obtaining data from businesses relating to interaction with business information systems and the lessons taken. A sample of 20 small businesses across industries was taken using purposive sampling. The businesses are drawn from different zones of the town to include those in manufacturing, processing, financial services and training. Most of the businesses are situated according to urban zoning plans designed by the city of Canberra. Majority use Supply Chain Management (SCM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) for efficient business operations and to meet demanding work schedules. The study involved questionnaires and interview schedules administered to head of departments in customer service, procurement and planning (Harrison & Rainer 2002). A total of 60 questionnaires and 20 interviews were prepared. Every business received 3 questionnaires and 1 interview. The study allowed for purposive sampling as departmental heads were key people who provided the required information. To identify the business location, multi stage sampling was used to map the distribution of business according to industry type (Lyytinen 2008). Once all the industry fields were listed, the businesses were identified and included into the sample. The managers were approached after consent was sought from them via e-mail. The data obtained was held confidential and only shared with the university supervisors. The questionnaires was filled by departmental managers and kept in a secured envelope. The instruments were simplified to ensure effective interaction and rapid responses (Zhang, Nah & Preece 2004). There was a risk of using the terminologies which could not be easily understood by the managers. To ensure that the responses were valid, the managers were guided through areas they could find difficulty in understanding. Techniques of data analysis and interpretation included discussion of graphs and tables. The analytical part was mainly descriptive and the findings deduced from the tables and graphs. The data is based on primary data of collecting information, analyzing and interpreting to suit a specific objective (Lucas 2005). Analysis based on graphs and tables ensured that the elements of management information systems were ranked and evaluated on the basis of applicability and interaction. Data used in the study was collected from primary sources while much of the literature and discussion was derived from secondary sources. Such a strategy facilitated timeliness and cost effectiveness (Vessey, Ramesh & Glass 2002). There are numerous sources of reliable pieces of data, and these sources included books, certified company websites, journals, as well as government databases. The investigative section of the data was collected through primary means, and this included the use of surveys. Combining multiple sources enhances credibility since each one of them supplemented what was not captured by the others (Vessey, Ramesh & Glass 2002). After the data has been collected, reverse directed hypotheses was used. This strategy involved theoretical frameworks utilized during the modeling of phenomena intended for the conclusion of the study (Vessey, Ramesh & Glass 2002). Key points were marked as this was the only way appropriate categorization happened. The hypothesis was developed, and the process repeated until a satisfactory quality of results was established. Finally, the theory was developed. 4. Findings The results were as follows; 20% of the firms were in manufacturing sector, 56% were in financial services while 24% were in processing. Each business was asked to provide information on the use of three management information systems as SCM, ERP and CRM. 58% of the businesses use the three management systems while 33% uses only two and the rest 9% uses only one of the systems. All the respondents asserted that management information system are essential in current business world. 0.67 of the departmental managers are knowledgeable on information systems while 0.33 do not. Those who are knowledgeable differentiated data and information. 80% of the respondents maintained that information systems are elemental in three ways as management, organization and technology. 20% of the respondents asserted that information systems related to management, organization or technology. 95% of the respondents said that information systems have provided useful lessons for decision making and better organizational leadership. 70% of the respondents noted that the web and the internet have played a substantive role in boosting communication and transactions of businesses hence complementing information management systems. 85% of the respondents said that information systems are bringing major changes to organizations in terms of efficiency, relationships and partnerships. 55% of the respondents said that they have had challenges in operating and maintaining information systems due to information dynamics and evolution while 45% of the respondents noted that the challenges are minor. 65% said that the systems are interactive and enables learning across departments while 35% did not agree. 5. Analysis From the data collected above it can be learned that managers have a role in problem solving within their departments. They do these using management information systems as tools that deliver the information needed for these solutions. In the areas of manufacturing, processing and financial services, managers are using MIS to reflect on management decisions and become instrumental in management process change (Lamb & Kling 2003). Management information systems are important instruments of organizational change crucial in recasting organizational components like culture, politics, operating procedures, workflows and structure hence redrawing organizational boundaries and developing new business models. From the results many firms are in financial service industry followed by processing and manufacturing in that order. Many businesses are using mainly the three management information systems as SCM, ERP and CRM but some have decision support systems and knowledge based systems. Management information systems are essential in current business world. It can be learned that many current departmental managers are knowledgeable on information systems with many able to differentiate data and information (Pitts, & Browne 2004). Information systems are elemental in three ways as management, organization and technology. Information systems have provided useful lessons for decision making and better organizational leadership. The web and the internet have played a substantive role in boosting communication and transactions of businesses hence complementing information management systems. Besides, information systems are bringing major changes to organizations in terms of efficiency, relationships and partnerships (Poole, Holmes & DeSanctis 2001). There are challenges in operating and maintaining information systems due to information dynamics and evolution. Information systems advancement has accelerated the current business trends into a knowledge driven, globalized, flexible, flattened and decentralized organizations. This has enabled functions to coordinate and exchange information over great distances (Goodhue 2005). With global connectivity, a seamless information flow has been created between the firm, suppliers and its customers. Management information systems are very important to be left to computer specialists. In the current competitive business environment, information systems are essential in assisting organizations to handle changes in business enterprise and global economies. These systems have been useful to organizations as they generate analytical tools and communication to firms for managing businesses and conducting trade at a global level (Saleem 2006). This is basically the foundation of services in knowledge economies and new knowledge based products. Firms are at a position to manage their knowledge assets. Businesses have been able to adopt more decentralized and flatter structures with flexible arrangement of management and employees (Schenk, Vitalari & Davis 2008). Since organizations are becoming more efficient and competitive, they are able to transform into digital firms given that all relationships and core business processes with suppliers, employees and customers are enabled digitally. The essence of information systems is learning. From collection, storage, and information dissemination many managers are able to learn from internal operations and organizational environment that supports decision making and functions. It allows for communication, control, coordination, analysis and visualization. Organizations and management are being transformed by information systems in their overall performance by driving organizational strategy and operations (Shneiderman 2002). They are now flexible and their work is separated from location. Layers of management are eliminated while coordinating with customers and suppliers. They are able to restructure workflows and provide new power to management and line workers. Managers now have the tools for forecasting, planning and business monitoring. This has paved way for increased planning of IT infrastructure and information architecture. 6. Discussion The major users of these systems are middle level managers with summary and exceptional reports as information outputs. The processing aspect utilizes routine reports, low level analysis and simple models. Information inputs are summary transaction data, simple models and high-volume data. The function areas of management are sales and marketing, finance and accounting, manufacturing and production and human resources (Markus, Majchrzak & Gasser 2002). The learning aspect in manufacturing and production is product assembly, quality checks and bills of materials production. In sales and marketing, managers are able to learn how to identify customers, sell the product and create product awareness among customers. In finance and accounting, managers are able to create financial statements, pay creditors and manage cash accounts. Finally, human resources function can learn how to hire employees, enroll employees in benefit plans and evaluate their job performance (Reining 2003). Figure 3: Interaction of Management Information Systems The figure above shows how systems interact with each other and help in exchange of knowledge and learning. Transaction processing system is the data source for many systems while executive support systems are the key recipient of data emanating from low level systems. The interaction of departments is enhanced by systems serving different function areas (Vessey 2001). For instance, an order captured in a sales system can be relayed to a manufacturing system where the transaction is generated and delivered in a specific product order. Sales and Marketing system Managers are able to interact and learn from this function that sells organizational services and products. Managers and staff can identify customers and determine their needs and wants. The function then plans and develops services and products that satisfy their needs. Information systems on sales and marketing supports contacts to customers, sale of services and products order takes and sales follow up (Shneiderman & Plaisant 2005). At strategic levels, the systems on sales and marketing monitor trends likely to affect sales opportunities, new products, monitoring competitor performance and planning of new services and products. Sales and marketing systems at management level supports advertising, market research, pricing decisions and promotional campaigns. The systems help in sales staff performance analysis and sales performance (Yamagata-Lynch 2010). Marketing analysis workstations are supported by marketing systems and knowledge-level sales. Sales and marketing systems at operational level helps in location and contact to potential customers, sales tracking, and customer service support and order processing. Therefore, management use of the MIS system is for pricing analysis since it determines the prices of services and products. Manufacturing and Production Systems Production and manufacturing systems are involved in development, planning, and production facility maintenance. The other functions are storage, acquisition, production materials availability, and scheduling of labor, materials, facilities and equipment needed for fashion finished products. Management level employs the production planning system which decides how and when many of the products should be generated (Swanson 2004). This is a support aspect using inventory system to provide data of every item in inventory like the units depleted because of purchase or shipment. The inventory master files have basic data on each item and re-order points. The systems allows for learning and decision making on re-order, stock-out and calculation of least expensive reorder quantity (Zhang 2008). The system generates information on the available items in the inventory that can support production and manufacturing activities. Finance and Accounting Systems The systems allows for interaction and learning through management of financial assets of the firm like stocks, bonds, cash and other investments meant to maximize financial asset returns. The system is crucial in determining how a firm achieves best investment returns and obtains sizeable information from external sources. The maintenance and management of the accounting function is mainly in disbursements, receipts, payroll and depreciation. There have been major challenges in this function which required management systems especially relating financial assets current inventory and existing records for payroll, receipts, disbursements, and other flow of funds. Long term investment goals are undertaken by strategic level systems providing for financial performance long-range forecasting. Analytical tools and workstations are supported by knowledge systems through a design of the correct investment that maximizes profits. Information systems at management level assist managers to control and oversee the financial resources of the firm. Tracking funds flow in the firm via way like paychecks, receipts and security reports are carried out by operational systems. The role of management in this aspect is budgeting through preparation of short-term budgets. Human Resource The role of human resource is developing, attracting and retention of the workforce in the firm. The systems support activities like creating programs founded on employee skills and talents and keeping complete records of current employees. Manpower requirements like educational level, skills, cost and positions are carried out using human resource systems at strategic levels. This helps to meet long-term business plans (Zhang, Nah & Preece 2004). The managerial level captures the managers capability to analyze and monitor allocation, recruitment and employee compensation. Training and modeling of employee career paths are done by knowledge systems. The operational levels track placement and recruitment of employees by the firm. Management has a lot to do with monitoring the distribution and range of salaries, wages and benefits. It is mainly compensation analysis. Effectiveness of Management Information Systems (MIS) in enhancing the quality of service and profitability Information systems are important in manufacturing, processing and financial services in Small and Medium sized businesses (SMEs) in any part of the world. With the drive towards total quality of products and services, managers are using MIS to reflect on management decisions and become instrumental in management process change (Huber 2003). Redrawing organizational boundaries and developing new business models happen due to Management information systems instruments engendering organizational change and recasting organizational components like culture, politics, operating procedures, workflows and structure hence. Many businesses are using mainly the three management information systems as sales and marketing systems, Human resource, financial and accounting as well as manufacturing and production. They are also enhanced by decision support systems and knowledge based systems. Many small firms in financial service industry communicate with those in the processing and manufacturing hence promoting learning from each other. Management information systems are essential in current business world (Adams, Nelson & Todd 2002). The web and the internet have played a substantive role in boosting communication and transactions of businesses hence complementing information management systems. Besides, information systems are bringing major changes to organizations in terms of efficiency, relationships and partnerships. Many current departmental managers in these firms exchange knowledge owing to information systems bringing to the fore the difference between data and information. Information systems hence boost the management, organization and technological advancement (Vessey Ramesh & Glass 2002). Information systems have provided useful lessons for decision making and better organizational leadership. There are challenges in operating and maintaining information systems due to information dynamics and evolution. With global connectivity, a seamless information flow has been created between the firm, suppliers and its customers. Management information systems are very important to be left to computer specialists (Taylor & Todd 2005). Information systems advancement has accelerated the current business trends into a knowledge driven, globalized, flexible, flattened and decentralized organizations. These systems have been useful to organizations as they generate analytical tools and communication to firms for managing businesses and conducting trade at a global level. This is basically the foundation of services in knowledge economies and new knowledge based products (Ajzen 2001). Firms are at a position to manage their knowledge assets. This has enabled functions to coordinate and exchange information over great distances. In the current competitive business environment, information systems are essential in assisting organizations to handle changes in business enterprise and global economies. Interaction, Learning and Sharing Small businesses can now share and submit information through a common bureau owing to adoption of more flatter and decentralized structures with flexible arrangement of management and employees. Since organizations are becoming more efficient and competitive, they are able to transform into digital firms given that all relationships and core business processes with suppliers, employees and customers are enabled digitally. Organizations and management are being transformed by information systems in their overall performance by driving organizational strategy and operations. They are now flexible and their work is separated from location. Layers of management are eliminated while coordinating with customers and suppliers (Van der Heijden 2003). The essence of information systems is learning. From collection, storage, and information dissemination many managers are able to learn from internal operations and organizational environment that supports decision making and functions. It allows for communication, control, coordination, analysis and visualization. They are able to restructure workflows and provide new power to management and line workers (Zhang & Li 2005). Managers now have the tools for forecasting, planning and business monitoring. This has paved way for increased planning of IT infrastructure and information architecture. 7. Conclusion From the findings above, it became evident that Information Management Systems are essential in the current competitive environment. Small businesses are quickly adapting to changing fortunes through information and data interaction. It can also be established that MIS systems enable the small businesses to interact and learn from one another through sharing of industry information generated from their reports (Baskerville & Myers 2002). The era of manual and tough paperwork is over and that companies are looking for more efficient ways of retaining employees, improving productivity and building long-term relationships with likeminded organizations. Information systems are adopted in the new era of intelligence where small and medium sized business would need to move from the lower phases of growth and development into huge conglomerates. These systems are important are essential for every business not only in Australia but across the world. Reference list Adams, D A Nelson, R R & Todd, P A 2002, Perceived usefulness, ease of use, and usage of information technology: a replication. MIS Quarterly, 16, 2: 227–247. 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