Management Information System - A Communication Tool

Information has to be managed to communicate to the right person at the right person. It provides a robust communication network in an organization. As a consumer, one has to deal regularly with the information system that supports business operations at many retail stores. To record customer purchase-related stores today, use computer-based information systems to keep track of inventory employees, merchandise, and evaluate sales trends. Managers take better decisions and gain competitive advantages.

The e-business enterprise:

Building their companies into successful e-businesses has become an important objective for today’s enterprises. Conceptually, it embodies the enabling of business with such capabilities as global networking streamlining business processes, sharing information, and intelligent decision making.

Communication between functional areas:

The more the functional department communicates, the more they trust each other and it gets dented. The company has to share all the vital information. These are always clashing between the marketing and production departments. Functional units must trust each other, share facts, and try to respect each other’s constraints and think strategically so that the overall organization goals are not undermined.

Product development process:

It is a competitive area in organizations today. Designing new products and getting to market diverse as computing chips and photo chips.

The product development process starts from the market where customers give their choice of preference, tastes, likes, and dislikes. Best promotion schemes are important as celebrities promote their movies in all the channels.

Finance and other functional areas:

Finance is the lifeblood of an organization. The finance department looks into the cost, pricing, and future revenue expectations of that idea before giving the green signal. Strategic information has to be shared as managers have to be transparent and communicate in all the issues. Funds have to be used for marketing and for advertisements, promotions, etc. How the product has to be launched is also an important factor.

Financial communication is all about providing financial data about the company’s performance to the investor community at large.