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Management Information Systems (MIS) :Management Information Systems (MIS) AST 205 Chapter 7 Notes
What is a Management Information System :What is a Management Information System A continuous flow of business information which ultimately aids a manager in the decisions that must be made in order to efficiently run a business.
Some questions to ask about your MIS: :Some questions to ask about your MIS: -What type of data do I need?
Expense reports
Sales volume report
Income for a previous period
-What format does that data need to be in?
Weekly/monthly/quarterly/yearly reports
Spreadsheet
Tables/Graphs
MIS Questions Ctn. :MIS Questions Ctn. -How will use that data?
To monitor
To make decisions
To flag areas of concern
To compare with other operations
-How will I collect this data?
Who collects
Where recorded
What is recorded
MIS Questions ctn. :MIS Questions ctn. -Why do we collect this data?
Track cash flows
Track financial position
Tax reasons
Decision making
A MIS should provide information on 5 key areas: :A MIS should provide information on 5 key areas: Human Resources
time worked
tracking time off
work orders- time allotted to a job
Financial :Financial Material on Hand- all tangible assets
-condition
-ownership status
-legal information
-inventory
Aviation Operations :Aviation Operations -line service- revs. & Exp.
-Flight Instruction/charter-
-Maintenance- volume, efficiency
Tax Information :Tax Information -those owed & collected from cust.
Analysis :Analysis All this information is no good unless we have a way to analyze & interpret it
2 fold objective of our analysis:
To determine if goals are being met
To identify areas of needed improvement
Analysis ctn. :Analysis ctn. Accounting systems provide the raw data; it is up to managers to analyze this info. By applying standards to judge from-
Results from previous periods
Contrast with industry averages
Compare w/ competition if possible
Examples :Examples FBO Manager
TotalFBO®