Information Technology in Controlling
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Information technology plays an important role in controlling by: 1) Providing managers with data and information to monitor performance, compare it to goals, and identify areas for corrective action through management information systems, electronic data processing, and computer-based information systems. 2) Helping organize and analyze raw data into meaningful information that supports decision making. 3) Enabling the use of decision support systems to compile information from various sources to help managers solve problems and make informed decisions.
Information Technology in Controlling
- 1. le of Manage ment Information Submitted to: Technology in Dr. Rajesh Bhatt Controlling Prepared by: Avadhesh Solanki
- 3. Introduction The process of ensuring that actual activities conform to planned activities To monitor performance, compare it with goals, and take corrective action as needed
- 4. Definition Control is checking current performance against pre-determined standards contained in the plans, with a view to ensure adequate progress and satisfactory performance. -- ELF Breach Controlling is the measurement and correction of performance in order to make sure that enterprise objectives and the plans devised to attain them are accomplished. -- Harold Koontz
- 5. Definition That function of the system that adjusts operations as needed to achieve the plan, or to maintain variations from system objectives within allowable limits
- 6. Characteristics Control is a continuous process Control is a management process Control is embedded in each level of organizational hierarchy Control is forward looking Control is closely linked with planning Control is a tool for achieving organizational activities Control is an end process
- 8. The Nature of Information We tend to use the term Data and Information interchangeably, there is distinction between the two concepts.
- 9. Data & Information Data are raw, unanalyzed numbers and facts about events Information, in contrast, results when data are organized or analyzed in some meaningful way
- 10. Management Information System A management information system (MIS) is a system that provides information needed to manage organizations efficiently and effectively. MIS encompass three primary components: Technology, People (individuals, groups, or organizations), and Data/Information for decision making.
- 11. Academically, the term is commonly used to refer to the study of how individuals, groups, and organizations evaluate, design, implement, manage, and utilize systems to generate information to improve efficiency and effectiveness of decision making, including systems termed decision support system, Expert systems, and executive information systems.
- 12. Electronic Data Processing (EDP) Electronic Data Processing (EDP) can refer to the use of automated methods to process commercial data Typically, this uses relatively simple, repetitive activities to process large volumes of similar information For example: stock updates applied to an inventory, banking transactions applied to account and customer master files, booking and ticketing transactions to an airline's reservation system, billing for utility services.
- 13. Computer Based Information System (CBIS) Information systems (IS) is the study of complementary networks of hardware and software that people and organizations use to collect, filter, process, create, and distribute data Information system that goes beyond the mere standardization of data to add in the planning process.
- 14. Decision Support System Decision Support System (DSS) are computer program applications used by middle management to compile information from a wide range of sources to support problem solving and decision making. A properly designed DSS is an interactive software-based system intended to help decision makers compile useful information from a combination of raw data, documents, and personal knowledge, or business models to identify and solve problems and make decisions.
- 15. Thank You