One of the most important factors in separating successful from unsuccessful companies is having an effective management information system (MIS) (David & David, 2017). Management Information Systems allow companies to have access to both internal and external information, which then gives them the ability to have a competitive advantage. The information gained from MIS can be used by a company to strategize. MIS also has the ability to reduce costs by looking at aspects of the value chain and improving quality and service. One risk of using MIS is the threat of hackers. One benefit of MIS for employees is the ability to work from home.
Management information systems are useful in strategy implementation and evaluation because they give data to trend analysis and track company results (Markgraf, 2019). Data is able to be collected from MIS, which then allows a company to determine whether or not they are meeting their expected goals. MIS information can be used to strategize if goals are not on track.
David, F. R., & David, F. R. (2017). Strategic Management: A Competitive Advantage Approach, Concepts and Cases (16th ed.). Upper Saddle River, NJ: Pearson.
Markgraf, B. (2019, March 08). The Role of Management Information Systems in Decision-Making. Retrieved March 28, 2019, from https://smallbusiness.chron.com/role-management-information-systems-decisionmaking-63454.html