The DSS is an information management system that supports business decision-making. It collects and analyzes mountains of raw data, information and documents, and compiles the data into useful reports.
The DSS is an interactive knowledge-management system where managers and decision-makers can specify a search criteria based a particular subject area of concern and receive a report. Based on the user-specified search criteria, the DSS finds the necessary data--such as customer buying habits, employee-performance reports, or the number of customer-service complaints--required to produce the report.
The DSS has three basic components: database, model base and user interface. The database is the repository of raw data collected, which includes information such as raw sales data, customer account records, manufacturing process data and employee-performance data. The model base includes the mathematical and statistical models required to analyze and package the data in a useful form according to user request. The user interface allows the user or decision-maker to interface with the DSS and request specific information.
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Read more: The Major Component of a Management Information System | eHow.com http://ehow.com/facts_7165933_major-component-management-information-system.html#ixzz2NzsMY1vK
April 4, 2014
Strategic management is not just a set of boring rules in a book. It is a philosophy. An approach to business that can determine if the business is feasible, and once the business is up and running is the basis of consistent gains in profit and focus on the primary goals of a company (Clayton, 2014). The strategic management process is a guide to help all members of an organization stay in unison by understanding the focus and the plan of the company. It is the overall plan to ensure that a company is long lasting and durable despite any weakness the company might have. Wheelan and Hunger stated, “Strategic management is a set of managerial decisions and actions that determines the longrun performance of a corporation. It includes environmental scanning (both external and internal), strategy formulation (strategic or long-range planning), strategy implementation, and evaluation and control” (2010, p. 5). All companies need to use a strategic management plan.
Initially all companies start with a goal in mind. Environmental scanning consists of information toward the vision of a company. Analyses of the needs of the business, any competition that is in the similar market, and issues external and internal are evaluated. Strengths and...
TOP LEVELMANAGEMENT FUNCTIONS
In order for a company to have organizational synergy between the top layer of the corporate structure, made of the Board of Directors or top executives, down to the employees, they must have well-defined functions for top-levelmanagement that are carried out in their everyday objectives. By having strong functions that are implemented throughout the workplace aligns the high-level mission statement and the strategic objectives through the corporate structure. If a company’s top-levelmanagement can understand the high-level goals and objectives it will help to clearly define the responsibilities of the employees. The main functions of top-levelmanagement include planning, organizing, motivating, staffing, and controlling which build the framework to successful and efficient management. These are all important functions to have in unison because the piece together to facilitate strategic focus to the goals of the company. In order to fulfill these functions, top-levelmanagement must possess technical skills, conceptual, and interpersonal skills to successfully manage effectively. This is why an organization must have a strong set of functions that are being proficiently being carried...
Structure and organisation in the retail sector.
The retail sector is at the end of the supply chain and it is where the product gets sold to the consumer, this is also known as the tertiary sector. Retailers tend to buy in large quantities from the manufactures to get lower prices which mean they can get a better profit when it is sold on.
The retail sector is changing because of technology, for example most companies have gone to the ‘clicks n’ bricks’ method. This means that they are using both a store and an online website also known as e-tailing. There are some companies that only trade online as it is a cheaper way of trading as they don’t have to pay rent on a store. The online part of a business is mainly used for convenience to their customers. The online grocery market is currently worth £6.5 billion but they are predicting it to be worth £15 billion by 2018. This is an indication of how much the online sector is growing as it is becoming more convenient for the consumer. But the food and groceries sector is worth £170 billion at this point in time. This shows that even though the online sector is growing it is still not as big as the stores themselves and shows that the consumers habits of going to the store is hard to break.
The retail sector is the largest industry within the UK as it employees roughly 2.77 million people in...
...The term “Levels of Management’ refers to a line of demarcation between various managerial positions in an organization. The number of levels in management increases when the size of the business and work force increases and vice versa. The level of management determines a chain of command, the amount of authority & status enjoyed by any managerial position. The levels ofmanagement can be classified in three broad categories: - 1. Top level / Administrative level 2. Middle level / Executory 3. Low level / Supervisory / Operative / First-line managers Managers at all these levels perform different functions. The role of managers at all the three levels is discussed below: |
LEVELS OF MANAGEMENT
1. Top Level of Management
It consists of board of directors, chief executive or managing director. The top management is the highest authority and it manages goals and policies for an enterprise. It devotes more time on planning and coordinating functions.
The role of the top management can be summarized as follows -
a. It issues necessary instructions for preparation of department budgets, procedures, schedules etc.
b. It prepares strategic plans, policies and objectives...
...| Management Basics |
* * Management - Introduction * Management as a Process * Management as an Activity * Management as a Discipline * Management as a Group * Management as a Science * Management as an Art * Management as a Profession * Features of Management * -------------------------------------------------
Levels of Management * Objectives of Management * Importance of Management * Management and Administration * Functions of Management * Co-ordination - Introduction * Co-ordination and Co-operation * Management Principles * Management Principles - Features * Importance of Management Principles * Scientific Management - Introduction * Principles of Scientific Management * Techniques of Scientific Management * Criticism of Scientific Management * Taylor and Fayol
* | -------------------------------------------------
Levels of Management inShare | The term “Levels of Management’ refers to a line of demarcation between various managerial positions in an organization. The number of...
...Meaning of Levels of Management
Many managers work in an organisation. However, these managers do not work at the same level. They work and operate at different positions. Hierarchy of these managerial positions is called Levels of Management.
Three Levels of Management
Generally, there are Three Levels of Management, viz.,
1. Administrative or Top Level of Management.
2. Executive or Middle Level of Management.
3. Supervisory or Lower Level of Management.
At each level, individual manager has to carry out different roles and functions.
Diagram of Levels of Management
Top Level of Management
The Top LevelManagement consists of the Board of Directors (BOD) and the Chief Executive Officer (CEO). The Chief Executive Officer is also called General Manager (GM) or Managing Director (MD) or President. The Board of Directors are the representatives of the Shareholders, i.e. they are selected by the Shareholders of the company. Similarly, the Chief Executive Officer is selected by the Board of Directors of an organisation.
The main role of the top levelmanagement is summarized as follows :-
1. The top...
...COMPONENTS OF MANAGEMENT INFORMATION SYSTEM
Input and output devices constitute the hardware components of MIS.
The programs and applications that convert data into machine-readable language are known as software.
Procedures are sets of rules or guidelines, which an organization establishes for the use of a computer-based information system.
The computer experts, managers, users, analysts, programmers, database managers, and many other computer professionals who utilize the computer-based information systems are the personnel in a management information system.
COMPONENTS OF MANAGEMENT INFORMATION SYSTEM USED IN
LILAVATI HOSPITAL & RESEARCH SYSTEM
1) Marketing Research System (MRS)
2) Marketing Intelligence System (MIS)
3) Internal Reporting System (IRS)
4) Decision Support System (DSS)
DECISION SUPPORT SYSTEM
Decision support systems (DSS) are a computer-based information system that supports business or organizational decision-making activities. DSS’s serve the management, operations, and planning levels of an organization and help to make decisions, which may be rapidly changing and not easily specified in advance.
DSS’s include knowledge-based systems. A properly designed DSS is an interactive software-based system intended to help...
...of strategic management accounting was first coined by Simmonds (1981). Who defined it as the provision and analysis of information about a business and its competitors for use in developing and monitoring the business strategy? However, in the contemporary business environment, organizations are experiencing greater challenges, increased competition and rapid diffusion of knowledge. (2)
Traditionally management accounting has been characterised as providing information to aid managers internally in a firm and as such the focus of the management accounting systems has also tended to be internally orientated. During the 1980s and 1990s a growing number of academics (Johnson and Kaplan, 1987; Bromwich and Bhimani, 1989, 1996) began to recognise that management accounting was not adapting to changes in the modern business environment and as such was not fulfilling its function to aid managers. In a bid to improve the quality of management accounting information for managers it was necessary to focus more widely on the external environment of the firm and thus the concept of strategic management accounting evolved. Now (strategic) management accounting involves the provision of information, which is externally orientated, market-driven and customer-focused and provides managers with a range of techniques and tools to facilitate strategically-orientated decision making. (3)...