Module 10 Flashcards
The system concept becomes even more useful by including two additional components: ________ and _______
Feedback and Control
A system with Feedback and Control components is sometimes called a _________, that is self monitoring, self-regulating system
cybernetic system
is data about the performance of a system. Example. Data about collection performance is feedback to a credit and collection manager.
Feedback
involves monitoring and evaluating feedback to determine whether a system is moving toward the achievement of its goal. Example, a credit and collection manager exercises control when making decision of what strategy or approach to increase the collection of their department.
Control
To be successful, managers must fully understand and use four (4) major resources:
(1) Money
(2) Material
(3) People
(4) Information
are the raw materials from which information is derived.
Data (plural:datum)
is data that have been collected and processed into a meaningful form. is the meaning we give to accumulate facts(data).
Information
is the collection and management of information from one or more sources and the distribution of that information to one or more audience.
Information Management
is the study of complementary networks of hardware and software that people and organizations use to collect, filter, process, create, and distribute data.
Information systems (IS)
Information systems can be summarized by:
a.) collecting information
b.) processing and using it effectively for decision making
c.) disposing it at the right time
Types of Management Information Systems
(1) Transaction Processing Systems (TPS)
(2) Management Information System (MIS)
(3) Decision Support System (DSS)
(4) Executive Support System (ESS)
collect and record the routine transactions of an organization. It is an information system that captures and processes data generated during an organization’s day-to-day transactions.
Transaction Processing System (TPS)
produce fixed, regularly scheduled reports based on data extracted and summarized from the firm’s underlying transaction processing systems (TPS) to middle and operational level managers to provide answers to structured and semi-structured decision problems
Management Information System (MIS)
are computer program applications used by middle management to compile information from a wide range of sources to solve problems and make decisions.
Decision-Support Systems (DSS)
is software that allows users to transform enterprise data into quickly accessible and executive-level reports, such as those used by billing, accounting and staffing departments.
Executive Support System (ESS)
