Discuss the management information system (MIS) and a global economy in the 21st century.
Management information systems (MISs) in business acquire and organize information from business-internal and business-external sources, for example, internal cash register receipt data and external commodities price changes. The MIS makes information available to management for facilitating faster and better decision-making—often using real-time data—and the MIS generates scheduled reports detailing changes at all levels of the organization (Inc.com). Once reserved for large corporations with their own mainframes, the technological innovations of mobile digital platforms and cloud computing—run from software instead of from mainframes—fits the MIS to international businesses and brings the MIS to globally located entrepreneurs.
Small business entrepreneurs located globally can develop their own MIS through software, as explained by Inc.com in "Management Information Systems (MIS)." Software can link a computer network of the business and its suppliers, distributors, customers, and customer service and sales personnel. The software-managed databases of information from each network branch constitutes the new, globally-oriented small business MIS.
Two examples of this globalized MIS are in the jewelry and furniture businesses springing up in Asian countries, like China and Vietnam, that have computer links to raw resource suppliers, technology suppliers (e.g., suppliers of the nano-technology for gold-filled jewelry), international distribution platforms (e.g., ebay.com), international shipping companies (e.g., Chinese and U.S. postal systems operating jointly through international treaty) and an international customer base. Information linked, acquired and organized by computer networking makes a globally available MIS an integral component of the growing global marketplace, once the domain of multinational corporations but increasingly the stage for the globalized small business.
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