* Functional effectiveness:
A management information system is a system that provides information needed to manage organizations effectively. Management information systems are regarded to be a subset of the overall internal controls procedures in a business, which cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product. Service or a business-wide strategy. * Operational efficiency:
The focus of MIS is primarily on operational efficiency. It is used to provide reports. Three types of reports
1. Scheduled Reports: Produced periodically (daily, weekly, monthly and yearly) 2. Demand Reports: Developed to give decision makers certain information on request. 3. Exception Reports: Describe unusual or critical situations like low inventory etc. if a certain condition exists.
* Identifying and exploiting business opportunities:
Identify the key places of business opportunities to ensure success. For instance, you want to grow your business but before planning the expansion of business, make sure your wholesale business is strong enough to move forward and ready to undertake all the business endeavours. Once you know your abilities, review your past progress. * Altering the basis of competition:
Basis of competition is that reason why your customer chooses you over your competitor. It can be color, feature, function, style, availability or a host of other things. It is crucial that you know your basis of competition and then concentrate the resources of your enterprise into being the best in the world at whatever that is. * Quality customer service:
Quality customer service is essential when you work with customers. They are more likely to come back for business at your establishment if they receive good customer service. Customer service is asking what your customers are in need of and attaining what they need. Doing courteously and as smoothly as possible is quality customer service.