What ties all business functions together and provides the basis for all managerial decisions?

Information ties all business functions together and provides the basis for all managerial decisions. It is the cornerstone of all organizations. Information represents a major source of competitive management advantage or disadvantage. Assessing a firm’s internal strengths and weaknesses in information systems is a critical dimension of performing an internal audit.

A management information system receives raw material from both the external and internal evaluation of an organization. It gathers data about marketing, finance, production, and personnel matters internally, and social, cultural, demographic, environmental, economic, political, governmental, legal, technological, and competitive factors externally. Data are integrated in ways needed to support managerial decision making. 

Our management information system is based on Microsoft Access. Each employee has access to enter the system. Therefore, the information may be shared among the staff.

EMPLOYEES INFORMATION

This system provides information about all of our employees, your name, email, phone number and so facilitate the flow of information within the organization

ACCOUNTING INFORMATION SYSTEM

The basic purpose of accounting information system of our organization is to provide useful information about accounting and financial situation of the company, to facilitate the decision making of all stakeholders.

WORLD OFFICE 

With this system we can know everything about inventory and sales of our magazines

CUSTOMER INFORMATION  SYSTEM 

We can add Customer Information in the system, including both actual customers and potential customers. With the contact information of customers, we can send newsletters and get feedback of the service easily.

113) ________ become(s) ________ only when evaluated, filtered, condensed, analyzed, andorganized for a specific purpose, problem, individual, or time.CDiff: 2

Get answer to your question and much more

AACSB:Information technologyObjective:4.09 Discuss the nature and role of management information systems in strategicmanagement.Learning Outcome:Describe tools and models for assessing a firm's internal environment114) The process whereby a firm determines the costs associated with organizational activitiesfrom purchasing raw materials to manufacturing products to marketing those products is calledB

Get answer to your question and much more

Diff: 2Objective:4.11 Explain cost/benefit analysis, value chain analysis, and benchmarking asstrategic-management tools.Learning Outcome:Describe tools and models for assessing a firm's internal environment115) The initial step to implementing value chain analysis isA) attaching a cost to each discrete activity.B) establishing costs in terms of time.C) establishing costs in terms of money.D) converting the cost data into information by looking for competitive cost strengths andweaknesses.E) dividing a firm's operations into specific activities or business processes.Answer:E

Diff: 1Objective:4.11 Explain cost/benefit analysis, value chain analysis, and benchmarking asstrategic-management tools.Learning Outcome:Describe tools and models for assessing a firm's internal environment

What is considered the cornerstone of all organization providing the basis for all managerial decision?

Which function of management includes all of those activities undertaken to ensure actual operations?

Which two management functions are most important at the strategic management process?

What are the three financial and accounting decisions?