T3.9

MISs, an acronym for Management Information Systems, are designed to support decision making, and differ from other information systems because in addition to being an information system in themselves, they also monitor the actions of many other information systems within the company (1). MISs are composed of people, equipment, and procedures used to gather and analyze data, eventually creating reports that are valuable to decision makers (1). MISs can be used by a variety of individuals including management accountants within the internal control group that can use such information to develop business strategies or cost a product (1). Furthermore, it is important to realize that MISs differ from other Information systems because they support decision making (1).

Management Information Systems, as a result of their assistance to informed decision making, can be extremely valuable to a company's attempt to gain a competitive advantage (2). When MISs are used strategically, market specific products can be created that raise the cost of market entry for possible competitors and thus give the company using the MIS a competitive advantage (2). Furthermore, a MIS can be used in situations where companies are experiencing “Price Wars”, in order to completely change the basis of competition (2). For example, if customer data collected by the MIS suggests product changes that could make a product more useful, cost effective, or appealing to the customer, the competition can switch from that of price to that of differentiation (2). In addition, companies can further “lock into business” and “switching costs” can be increased, as a result of the electronic connections or bonds formed between the company, customers, and suppliers by MISs (2).

As a result, careers in the field of Management Information Systems are a wise decision, as MIS personnel are in great need. In addition, because of this need the average salary of MIS workers has skyrocketed. This only makes sense, as if you have a product in high demand, and more buyers than products, the value, and thus price, of a product naturally increases. The Bureau of Labor statistics estimates that individuals with careers in the MIS field enjoy an average annual salary of over $100,000 dollars (3). Directly leaving college, a graduate with a Bachelors Degree in Management Information Systems can even expect to make almost $52,000 in an entry level position (3). Furthermore, the Bureau of Labor Statistics also expects that job opportunities within the field will experience an above average increase through 2016 (3).


1.

http://en.wikipedia.org/wiki/Management_information_system

2.

http://www.referenceforbusiness.com/small/Mail-Op/Management-Information-Systems-MIS.html

3.

http://degreedirectory.org/articles/Management_Information_Systems_MIS_What_Are_Popular_Careers_in_Management_Information_Systems.html