Business Technology Services Essay
A management information system (MIS) is a system or process that impart the information essential to administer or to manage an organization successfully. MIS and the information it generates are generally considered vital components for some of the important and sensible business decisions. Efficient MIS should make sure the suitable management formats and time schedules needed by operations and senior management are satisfied. MIS can either be maintained and developed by manual or by automated systems or by the combination of the systems. It should always be enough to satisfy an organization’s unique business goals, their visions, their missions and their objectives. The effective deliveries of an organization’s products and services are supported by the Managing information systems. (MIS- Comptrollers Handbook)
MIS helps managers run company: its basically system used for gathering the information about various departments operating in the company such as financial, production which are essential for future development for the future enhancement of the company, it helps the managers in operating a business, especially for a system which is computerized. (http://encarta.msn.com/)
1.1 Wipro Technologies. Wipro is a global IT service company that influence across-the-board business and technology solutions across the world in different domains. Wipro takes and addresses the real
Need essay sample on "Business Technology Services"? We will write a custom essay sample specifically for you for only $ 13.90/page
About our planet and our communities, about the way we live and approach businesses. Applying grassroots thinking. Grassroots thinking is a social media concept of thinking global and acting local. While connecting people and communities, sharing information or transacting online, the need of the hour is secure and sustainable solutions. Solutions which are strong enough to weather the toughest economical storm yet supple enough to travel on a cloud. (http://www.wipro.com)
1.2 Bridge between IT and business transformation. Business Technology Services in Wipro helps customers realize high business value by incorporating information strategy, business collaboration, business integration and managing IT risk, across the value chain of the enterprise. They are at the forefront of building business and technology solutions and IPs, applying advanced technology areas including Cloud Computing, Sustainability, Mobility, Social Computing and Analytics among others.
The solutions from Wipro enable organizations to drive critical business outcomes leveraging information technology. E.g. A single view of vendors enabled a Fortune 100 manufacturer realize an annualized bottom line improvement of USD 100m through procurement optimization. In a multi-country ecommerce platform for a Fortune 100 retailer, they delivered impactful business outcomes including a 58% increase in first time shoppers, 49% reduction in order processing time, and a 2.85% increase in order volume.
Wipro is considered one of most influential Multi National Company in the IT field and also it is been with a History of more than 70 years in other areas of production in the national level inside the country of India. Being such a large company with more than a 0.1 Million employees working with it, almost 100% computer based Management Information System plays a very vital role in management level of the company. The success rate of the company mainly depends upon the influence of the managing strategy and how much the managing directors spend on analysis for the improvement of the company. The current state of the company is credited to the success about the careful planning and the role and importance given to MIS.
2 Literature Review 2.1 Risk Associated with MIS Risk actually reflects the potential, the power, the likelihood, or the future expectation of the activities that could adversely affect profit or the capital of an organization. Management make use of the Managing Information systems to help in the analysis of risk within the organization. Decision making in the management is based upon the MI systems.Ineffective, inaccurate, or incomplete MIS may increase risk in almost all the areas such as credit quality, liquidity, market/pricing, interest rate, or foreign currency.
A flawed MIS may cause operational risks and will adversely affect an organization’s monitoring of its fiduciary, consumer, fair lending, Bank Secrecy Act, or other compliance-related activities. Since management requires information to make decisions and to analyse things in accessing and monitoring the performance at all levels of the organization. Additionally, poorly programmed or non-secure systems in which data can be manipulated and/or systems requiring ongoing repairs can easily disrupt routine work flow and can lead to incorrect decisions or impaired planning.
2.2 Assessing Vulnerability to MIS Risk Timeliness: This is one of the most important features that count for the vulnerability and almost in any system. Even in MIS this plays the key role. Accuracy: There should be a system of internal and automated accuracy while considered with the MIS. When thinking deeply about the organizations involved with computer systems this come more on focus. Consistency: The uniformity and consistency of data while they are processed and compiled is also an important issue.
Completeness: The information is worth only when it is complete. Decision makers always wanted things to be complete and the information is pertinent in a summarized form. This will also have to avoid overload. Relevance: Information is no longer valid when things go irrelevant. Things that are appropriate, necessary and that are very less but much informative are the key issue and the other things are of not much value.
2.3 Importance of MIS People require information for many reasons and in varied ways. For instance, we seek information for entertainment, browsing and so on. In a organization that finds more than one way of getting the information out to the company. This information need to be solved organized and be well formed so that the information handled and given in a clear and right format that it can be used upon. MIS in a company is for this purpose.
Managers are always distance administrators who are away from the workplace, so they depend on some system that could inform or update them with the current status of the working of the concern both in quantitative as well as qualitative terms. Luckily, the sudden progress of information systems and tools for gathering, analyzing and distributing information has paved a way for improving the ability to manage from a far distance i.e they need not be present on spot. However, the speed of technological change means that changes in management practices and tools are inescapable. It is better to think beyond than running to clutch up or vanish out of the industry. (Luc Lecuit, 1999)
2.4 Problems with MIS There are plenty of facts from several surveys both in the United states and also from United kingdom about the various approaches in MIS and many of them are used frequently in an advanced computer systems.They all have a much lesser achievements in granting management with the information they actually in need of. The major reasons found out include the following:
a) Inappropriate Emphasis of computer system, even narrowing. b) There is a need of management involved especially with the design of MIS. c) There is a lot of undue concentration which id found mainly in the low-level information processing requests in the secretarial area. d) Managing knowledge of computers especially in small and medium sized enterprises is more lacking. e) Reduced encouragement and need of appreciation by data specialists of the organization’s factual information needs and organizational difficulties.
f) Need of top-level management support system. The main requirement is the need of understanding the basic principles and the execution about the functioning of the firm. Creating an awareness about the working of the information system. It is the best of finding solutions for a problem and to take decision accordingly rather than deciding without knowing the organization’s current requirements. (Terence Lucey, 2004)