DATA

Are raw facts or observations, typically about physical phenomena or business transactions.

INFORMATION
Data that have been converted into a meaningful and useful context for specific end users.

SYSTEM
A group of interrelated components working towards a common goal by accepting input and producing output in an organized transformation process.

SYSTEM STAKEHOLDERS

System owners: Are the persons who pay for the system to built.
System analyst: Is a specialist who studies the problems and needs of organization to determine how people, data, process and IT can best accomplish improvements for the business. System Designer: A technical expert who translates system users business requirements and constraints into a technical solution. System Builder: Is a technical specialist who constructs IS and components based on the design specifications generated by the system designers.

TYPES OF SYSTEM

Open and Closed System: Open system is one which is interactive in nature. A closed system is one which does not interact with its environment. Physical and Abstract System: are tangible entities that may be static or dynamic. A physical system is a set of elements which operates together to achieve a goal. An abstract system is an orderly arrangement of interdependent ideas which may or may not have any existence in the real world. Super and Subsystem: A system that is part of some larger system is known as subsystem. Super system is a large and complex system which may or may not have subsystems. Deterministic and Probabilistic system: A deterministic system is one in which the occurrence of all the event is certain. A probabilistic system is one in which the occurrence of the event cannot be perfectly predicted. Temporary and Permanent systems: Temporary systems are those which has relatively short time span and are made to achieve certain objective or to perform specific task. Permanent systems are those systems which have relatively long time span. Natural and Man made systems: Systems which are god gifted or their existence is because of nature are called natural systems. Man made systems are those in which human beings intervene through components, attributes or relationships.

INFORMATION SYSTEM
Information System is a combination of people, hardware, software, communication devices, network and data resources that processes data and information for a specific purpose.

 Organization: Organization is a collection of

people with a common goal using finite resources to attain the objectives. Management: Management is the method of achieving the goals of the organization by the activities planning, organizing ,staffing, directing, controlling . Levels of Management: Lower Level, Middle Level, Top Level Roles of Management: Leader, Mentor, Liaison Agent, Controller etc. Functions of Management: activities planning, organizing ,staffing, directing, controlling . Functional Areas of Management: Marketing, Finance, Production and Human resource management.

Management Information System

A computer system designed to

help managers plan and direct business and organizational operations. Is an integrated man/machine system for providing information to support the operations, management and decision making functions in an organization.

Decision Making Process

Decision making is a managerial process of

choosing a particular course of action out of several alternative courses for the purpose of achieving the given objective. Decision Making process is combination of several steps: - Identification Phase - Development Phase - Selection Phase - Implementation Phase

Classification of Managerial Decisions

Classification according to goals

Classification according to the time

horizon Classification according to the structure Classification according to the level of management Classification according to the condition Classification according to the problem complexity and outcome certainty.

 Classification according to Goals:

- Individual Decision: when a decision is taken by a single person. - Group Decisions: Decisions taken by a group of persons. - Organizational Decisions: when a person takes a decision in the organization as an executive. Classification according to the Time Horizon: - Basic Decisions: basic decisions are those which are one time decisions, unique in nature involving long commitments and duration.. - Routine Decisions: Routine decisions are the day to day decisions, highly repetitive which have little impact on the organizatio.

 Classification according to the

Structure: - Structured Decision: Decisions which are arrived after applying clear decision rules or by following some specified procedure. - Semi structured Decisions: Decisions in which some aspect of the problem are structured and others are unstructured. - Unstructured Decision: Decisions which cannot be arrived after applying clear decision rules or by following some