Management Information System – The Use of Computer

Management Information System – The Use of Computer

Management Information System – Computer has become a very powerful tool in the business world today because of its ability to store, process and disseminate large amount of information accurately, efficiently and effectively for quick decision.

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According to Ani (200:5A), computer can be defined as an electronic tool capable of accepting data, interpreting data, performing ordered operation on data and reporting on the outcome of these operation.  It is therefore a tool managers can use to assist them in the complicated and time consuming task of generating information.

The computer took many centuries to come to the age of four generation, reckoning from time, serious efforts began towards simplifying mathematical computations Quite a few people were involved in the development of the computer and several of the scientists who made those useful contributions did not really aim at developing a computer but their inventions turned out to be an important step towards the development of computer

According to Alan Trunning (1937) showed that a computer can be built with a set of simple instruction while any problem having a logical solution can be reduced to a solution based upon a small set of simple instruction.  A few years later, John Von Neuman (1946) set out a summary of the design requirement far a modern computer as follows:-

  1. The processing of data instructions which include the use of modification of programs.
  2. Binary codes is used to represent data and instruction in a way that makes no distinction of the two and still allow them the storage space in the computer.

Based on those contributions and innovations of these scientists and others, the modern computer came to be.  IT underwent series of improvement which gave rise to farth computer generation, before we have today, MODERN COMPUTER.

However, the introduction of this general purpose device and machine and simple programming languages greatly increased the computer utility especially in management information system (MIS) which basically deals on how information is obtained, retrieved and utilized.  Computers are now indispensable tools in any business activities because electronic data processing is growing and meeting the expected need of people’s speed, accuracy and efficiency in handling of data and security.  IT also extended to other areas such as marketing, accounting, inventory management and production process.

According to Lutter Quick (1954) The concept of management information system (MIS) was formulated by Lutter Quick whole delivering a speech in October, 1960 at Ihe Rochester Institute of Technology, their are then it become obvious and necessary that information should play a vital role in the solution of business and management problems in a price-meal fashion thereby focusing almost entirely on the mechanization of all office chores.

Basically, Management Information System attempt to provide managers at all levels with the information they need to guide their enterprises.  It provides an organization with flexible integrated tool for the planning and control function of their endeavours, with the ability to planned and unplanned information requirement at all management levels.

According to Onuigbo (1990:487) Management information System (MIS) is he formal processing and dispersing of information in internal and external within the organization in an effective and efficient manner.

Primarily, the management information system (MIS) is set up of the purpose of providing, planning and controlling information to all levels of management to effect appropriate decision making.  Thus, it does this by gathering data, inputting and processing them into information and further dissemination these items of information, we can therefore, say that management information system can be sub-divided into functional information system such as marketing information system, Ihe financial information system and Ihe personnel information system and so on depending on the type of organization.

The management information system provides managements with varying information depending on the level, thereby making increased in the efficiency of the organization through better management decisions.

However, owing to the fact that organizations have grown in sizes, information flow has become so voluminous that face to face communication and even writing memoranda can no longer effect adequate communication or effective processing of data.  The management information system of these organizations have in recent times fond it difficult to meet with The increasing demand being made on information as a result, The manual means o operation is Jam-packet with scored of data to be processed.  Hence delay and inaccuracies in data collection and analysis.  Delay often makes decision making to be inaccurate.  Also, there is problem of misappropriation of important document of files or even cases of stolen files.

 

HISTORY OF FIRST BANK AND ITS MANAGEMENT INFORMATION SYSTEM

First Bank of Nigeria Plc, was founded in 1894 by a shipping magnate form Liverpool, Sir Alfred Jones, the Bank commenced as a small operation in the office of Elder Dempster and Company in Lagos.

The Bank was incorporated as a limited liability company on March 31, 1894, with Head Office in Liverpool.  It started business under the corporate name of the Bank for British West African (BBWA) with a paid up capital of 12,000 pounds starting, after absorbing its predecessor, Ihe Africa Banking Corporation, which was established earlier in 1892.  This signaled the pre-eminent position which the Bank was to establish in the banking industrial in West Africa.  In the early years of operations, Ihe bank recorded an impressive growth and  worked closely with the colonial Government in performing the traditional functions of a Central Bank, such as issue of specie in the  West Africa sub region.

To justify its west Africa coverage, a branch was opened in Accra, Gold coast (now Aghana) in 1896 and another in Freetown, Sierra Leone in  1898.  These marked Ihe genesis of the Bank’s international banking operations.  The second branch of the Bank in Nigeria was in the old Calabar in 1960 and two years later services were extended to Northern Nigeria.

To satisfy the needs of its customers, first bank has diversified into a wide range of Banking activities and services.  The include corporate, Retail and Mortgage Banking, Registrar ship private equity financing, trusteeship and Insurance Brokerage.  In addition as part of its strategy of progressive internationalization, in November 2002, Ihe Bank become the first financial institution in Nigeria to establish a subsidiary bank in the United Kingdom.

Over the year, Ihe Bank has experienced phenomenal growth.  With a share capital of N53.6 million in 1980, Ihe Banks share capital grew to N1.270 billion as at march 2003.

The Banks total asset base was N320.58 billion while its deposit base stood at N193.955 billion as at March 2003. Also, Ihe Bank’s market capitalization stood at N66.05 billion i.e N25.00k per share as at 31st March 2003.

IN 1957, it changed its name from Bank of British West African to Bank of West Africa.  In 1969, Ihe Bank was incorporated locally as the standard Bank of Nigeria limited in line with the companies Decree of 1968.

Changes in the name of the Banks also occurred in 1979 and 1991, to first Bank of Nigeria limited and first Bank of Nigeria Plc, respectively.

The Bank has continued to be a leader in financing loan term development of the economy which was demonstrated.  In 1947 when the first long term loan was advanced to Ihe then colonial Government.  To demonstrate its commitment to its customers and Ihe development of the Nigerian economy, Ihe bank has since broadened its loan and credit port-floes the various sectors of the economy.

The Bank has improved tremendously judging from a number of parameters including number of branches, growth in deposit base, asset size and size of loans and advances.

Furthermore, its track record of profitability and reliability in sound banking has continually placed the Bank in its leadership position.

STATEMENT OF PROBLEM

Many years ago, all business data were processed manually.  This was not always a satisfactory method because it was so slow.  Most organization in this country have been encountering business information problem because of manual method used.  These problems affected their level of performance in terms of output and quality of services.

Furthermore, there are other problems relating to the international structure and functions of the organization which include personnel turnover, loss of records, expensive communication, equipment, record, storage system problem such  as collection, processing, storage and retrial and distribution of information which play a vital role in the decision making processes.

The first Bank personnel have in Ihe past been denied of the gadget with modern technology to aid them in enhancing efficient and effective service in discharging their professional carrier.

It is in the light of the awareness that  Ihe researcher chose Ihe topic A study of computer in management information system to solve the problem of ineffective information system which bugged organization far many years.

THE AIM/PURPOSE OF STUDY

The aim of this study is

  1. To determine to what extent management information system has facilitated information flow in First Bank Plc, Enugu.
  2. To determine if there are lapses in the management information system in First Bank PLC, Enugu.
  3. To find out the contributions of management information system towards Ihe achievement of First Bank’s goal?

 

SIGNIFICANCE OF THE STUDY

The study will be most useful to First Bank Plc, Enugu.  It will be also be useful to individual, public sectors, state and federal government establishment that uses computer on management information system.

It will also serve as a data bank for future research on mis and addition to materials already existing in the library.  The study will also be of much significant important to institutions that offer management information system as a course and the establishment that may like to open the union on management information system.

It will also remedy the force found on those already operating Ihe system with some discrepancies.

SCOPE OF THE STUDY

The study is delimited to the use of computer in Management Information System in First Bank PLC, Enugu.

RESEARCH QUESTION

The following questions will be used in writing the project:

  1. How far has management informative system facilitated the information flow in First Bank PLC, Enugu.
  2. What are the lapses in the management information system of First Bank PLC Enugu.
  3. What are the contributions of management information system towards the achievement of First Bank’s goal?

 

HISTORY OF MANAGEMENT INFORMATION SYSTEM (MIS)

Onon-Igbo (2001:231) defined management information system as a combination of organizational lines and serves Ihe information needs of managers at different levels by providing information in a useful format on a timely basis to support planning and control requirements.

Management information system attempt to provide managers at all levels with Ihe information they need to guide their enterprises in the context of Ihe 1980s.  They typically require the use of sophisticated computer hardware and software although theoretically a management information system (MIS) should be achievable without computer resources, in this regards very few or less achieve Ihe desired goals.

The potentials of cotemporary technology that is computer provide hope that more systems deserving this designation will be a developed tools far the planning and control function of the endeavor with the ability to respond to planned managerial levels.

THE CRADLE: Management information system is presumed to have started in 1960s to enhance organization existence.  Through the releventless efforts of Kennedy – era whiz kids” kids” in The pentagon and other government agencies. The idea that the proper organization of data and application of sophisticated computing equipment could yield reports and decision making information to management for The purposes of planning and control was relatively new during that period.  The name computer itself indicates the early restriction of data processing equipment to computersational activities.  The architects of John Kennedy is management publicities largely Harvard trained business men were among The first to realize The computers potential as an information processing tool which could direct support management as well as Ihe clerical function (That is payroll, accounts receivable payable and inventory to which it was payroll, accounts receivable/payable and inventory) to which it was being applied.

Since the inception of management information system (MIS) concept, Western culture and the society at large has moved with increasing speeds towards an information based focus, following its revolution from an industrial to a post industrial service based society.

Generally speaking, management information system cam into being when Ihe office chores became more complex and organis.  Initially, when the task workers could do Ihe jobs without bothering to organize into units for effective management since they were on a small scale.

Although, Ihe definition of management information system (MIS) Has been noted before, but for motives of better understanding, we look at Ihe different other definitions as noted by different scholars with their features.

Sander (1979:50) has it that, management intimation system (MIS) is a net work of computer based processing procedures developed in an organizational And integrated as necessary with other manuals< mechanical and electronic procedures for aim of providing or supplying urgently effective information to support decision making and necessary management function.

Other scholars like Wren A. (1978:23) has it that management information system (MIS) is;

 

  1. A complex of human procedures and computer process.
  2. Cutting across an organization functional boundaries.
  3. To serve Ihe function need of management

The above characteristics appear both necessary and sufficient to constitute a definition, although there has been some controversy regarding Ihe explicit mention of computer in the two akin factures in the defitinition.  Theoretically, it is possible to develop and management information system without necessary making use of computer processing, practically in Ihe 1980s his rarely if ever occurs.  The ready availability of computer hardware and software makes automated support and implied if not explicit component of any contemporary (MIS)

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—-This article is not complete———–This article is not complete————

  This article was extracted from a Project Research Work Topic

A STUDY OF THE USE OF COMPUTER IN MANAGEMENT INFORMATION SYSTEM (A CASE STUDY OF FIRST BANK PLC, ENUGU”)

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Management Information System – The Use of Computer

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