Management Information System by Kiran Bobade

8/13/2019 Management Information System by Kiran Bobade

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Synopsis on

Management Information System in anking Industry

A) INTRODUCTION :

Management Information System the term

is not new to the banking sector. Since the early 80s, banks have been using this

terminology to refer to the process of generating various reports and analyses at

the Corporate/Head offices for their decision making for own use as well as for

conveyance to authorities in charge of regulation.

It is well known fact that organizations grow in leveland also in their complexity of functioning.Tremendous amount of information is

generated ever year, most of it goes into the archiveswithout any reference to it

the future. Also information which is needed by the organization fordifferent

applications is not possible to be made available at the right time at the right

level. MIS isconsidered as one such method of generating information which is

used by management of organization for decision making, control of activities,

operations etcMIS Means Management information system, Use and manage

information systems to revitalize business process.

Improve business decision making with information technologies.

Gain competitive advantage on the market

Management Information Systems in Banking -

Key elements:

• Internet technologies as platform for business and commerce• Collaboration processes among all business stakeholders in networked

enterprises

• Global markets and the international dimension

• Foundation Concepts

• Decision support in Business and Banking

• Information technologies and Banking applications

• An approach to computing, systems and information channels• Developing business



Management Information System (MIS) is needed. To proceed towards the

making of a

comprehensive monitoring and evaluation System, the first stage is to develop a

monitoring and evaluation framework at the departmental level so that the

existing

monitoring and evaluation systems can be streamlined and the future

development of

the new systematic monitoring and evaluation systems at the field level is

guided.

IMPORTANCE :MIS systems can be used to transform data into

information useful for decision making. Computers can provide financial

statements and performance reports to assist in the planning, monitoring and

implementation of strategy.

MIS systems provide a valuable function in that they can collate into coherent

reports unmanageable volumes of data that would otherwise be broadly useless to

decision makers. By studying these reports decision-makers can identify patterns

and trends that would have remained unseen if the raw data were consulted

manually.

MIS systems can also use these raw data to run.

Simulations - hypothetical scenarios that answer a range of ‘what if’ questions

regarding alterations in strategy. For instance, MIS systems can provide

predictions about the effect on sales that an alteration in price would have on a

product. These Decision Support Systems (DSS) enable more informed decision

making within an enterprise than would be possible without MIS systems.

Data Processing

Not only do MIS systems allow for the collation of vast amounts of business

data, but they also provide a valuable time saving benefit to the workforce.

Where in the past business information had to be manually processed for filing

and analysis it can now be entered quickly and easily onto a computer by a data processor, allowing for faster decision making and quicker reflexes for the

enterprise as a whole.

SIGNIFICANCE :Management Information System (MIS):

Management Information System (MIS) is a system that helps management in

making, carrying out and controlling decisions. In effect, a project/ program

monitoring system is a Management Information System that provides

information for making decision by the management.



1. Significant cost benefits, time savings, productivity gains and process

reengineering

opportunities are associated with the use of data warehouse

for information processing.

2. Foundation of Information Systems in business.

3. The Real World of Information Systems.

4. Finance/budget & cost/ROI.

5. Update systems to Internet.

6. Improve end users involvement.

7. Higher management participation.

8. Data can easily be accessed and analysed without time consuming

manipulation and processing.

9. Decisions can be made more quickly and with confidence that the data are

both time-relevant and accurate.

10. Integrated information can be also kept in categories that are meaningfulto profitable operation.

B) RATIONALE :

Following problems found in management information system

in banking sector while studiyng

- Manual procedures

- If your data is update data and correct data then you will recd correct mis

otherwise you will recd wrong output.

The need to design and implement a new Management information system

which would facilitate the internal

transformation of banking sector , ensuring full participation and involvement ofall public servants.

C) OBJECTIVE :

- The MIS of Bank whose branches are so well-spread becomes a pivotal point

of study as it caters to many segments of the society (urban and rural) and

offering a diversified portfolio of services like credit cards, loans, bank accounts,

etc... Thus, it becomes absolutely essential for a bank to maintain an accurate

mass record of all transactions of every individual or corporate. One cannot



ignore the fact that every record / data should have a reliable back-up in case of

any uncertainty like System Crashing’, ‘Virus Affected’, etc...

- Better-relate to our theoretical knowledge

- Better understanding of a renowned company which uses MIS extensively and

forms a part of its core activities, without the efficient management of which it

would become Gain knowledge on the different types of MIS used in various

departments for diverse activities appropriately.

- While computers cannot create business strategies by themselves they can assist

management in understanding the effects of their strategies, and help enable

effective decision-making. MIS systems can be used to transform data into

information useful for decision making. Computers can provide financial

statements and performance reports to assist in the planning, monitoring and

implementation of strategy.

D) HYPOTHESIS :

There will be two major financial measurements hypotheses evaluated in thisresearch. They are:

H-1

* Significantly MIS system is saving time were we will find out current status of

organisation.

* Significantly MIS system is not saving time were we will find out currentstatus of orgnaisation.

H-2

* Significantly making within an enterprise than would be possible without MIS

system.

* Significantly making within an enterprise than would not be possible withoutMIS system.



E) RESEARCH METHODOLOGY :

Sample size: 50 employees from Banks.

Sources of Data :

- Primary Data : The data will be collected through primary and secondary

sources. The primary data will be collected by administering a questionnaire and

through interaction with Stewards, Front Office Assistants, Sr Managers,

Manager, & Front Office Manager of the Banks

- Secondary Data : will be collected from the Bank’s website, records,

manuals, brochures, annual reports, etc.

- Tools of Data Analysis : Statistical tools will be used in the form of Pi-

Charts, Graphs and Diagrams

F) EXPECTED CONTRIBUTION :

- Gain knowledge on the different types of MIS used in various departments

for diverse activities appropriately.

- Better understanding of a renowned company which uses MIS extensively

and forms area for further research



G) CHAPTERISATION :

Chapter- I : Introduction

Chapter- II : Theoretical Background

Chapter_ III : Industry Profile

Chapter- IV : Data Presentation and Analysis

Chapter- V : Findings, Suggestions and ConclusionBibliography

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Management Information System by Kiran Bobade

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