1. Submitted To: Submitted By:Dr. Harshvardhan Halve Amrita Pandey(201002AlokPaliwal(201002Akshay Gupta(201002AkhilAgarwal(2010022)AkankshaPahwa(2010021)AdityaVikramMehra(2010020)

2. What is Management Information System?
MIS is a system that provides information needed to manage the organizations effectively.
They are regarded to be the subset of the overall internal control procedures, in a business, which covers the application of people, documents, technologies and procedures used by management accountants to solve business problems such as costing a product, service or a business wide strategy.
Management information systems are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization.
3. Data, information and Systems
Data: is a fact, number, statement or a picture that is given. It is the raw material in the production of information.
Information: is the data after manipulation, that has meaning within a context.
Systems: a set of components that work together to achieve a common goal. Often a system has several sub-systems. A system can be open or closed, depending on the nature ofinformation flow in the system.
4. Characteristics of useful information
Relevant:the information must be pertaining to the problem at hand.
Complete: partial information is often worse than no information.
Accurate: erroneous information might lead to disastrous decisions.
Current: decisions should be based on the latest information available, because what was a fact yesterday might no longer be one today.
Economical:in business setting ,the cost of obtaining informationmust be considered as one cost element involved in any decision.
5. Four stages of processing
Input: collecting and entering the data into the information system.
Data Processing:here the data is manipulated into information using mathematical, statistical and other tools.
Output: the information is displayed or presented.
Storage: data and information are maintained for later use.
6. Ethical and Societal Issues
Consumer Privacy: organizations collect (and sometimes sell) huge amount of data on individuals.
Employee Privacy: IT supports remote monitoring of employees, violating privacy and creating stress.
Freedom of Speech: IT increases opportunities for pornography, hate speech, intellectual property crime, an d other intrusions; prevention may abridge free speech.

IT Professionalism: No mandatory or enforced code of ethics for IT professionals--unlike other professions.

7. Social Inequality: Less than 20% of the worlds population have ever used a PC; less than 3% have Internet access.