Management Information Systems (MIS)

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Management Information Systems (MIS)

• AST 205 Chapter 7 Notes

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What is a Management Information System

• A continuous flow of business information which
  ultimately aids a manager in the decisions that
  must be made in order to efficiently run a
  business.

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Some questions to ask about your MIS

• -What type of data do I need?
• Expense reports
• Sales volume report
• Income for a previous period
• -What format does that data need to be in?
• Weekly/monthly/quarterly/yearly reports
• Spreadsheet
• Tables/Graphs

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MIS Questions Ctn.

• -How will use that data?
• To monitor
• To make decisions
• To flag areas of concern
• To compare with other operations
• -How will I collect this data?
• Who collects
• Where recorded
• What is recorded

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MIS Questions ctn.

• -Why do we collect this data?
• Track cash flows
• Track financial position
• Tax reasons
• Decision making

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A MIS should provide information on 5 key areas

• Human Resources
• time worked
• tracking time off
• work orders- time allotted to a job

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Financial

• Material on Hand- all tangible assets
• -condition
• -ownership status
• -legal information
• -inventory

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Aviation Operations

• -line service- revs. Exp.
• -Flight Instruction/charter-
• -Maintenance- volume, efficiency

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Tax Information

• -those owed collected from cust.

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Analysis

• All this information is no good unless we have a
  way to analyze interpret it
• 2 fold objective of our analysis
• To determine if goals are being met
• To identify areas of needed improvement

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Analysis ctn.

• Accounting systems provide the raw data it is up
  to managers to analyze this info. By applying
  standards to judge from-
• Results from previous periods
• Contrast with industry averages
• Compare w/ competition if possible

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Examples

• FBO Manager
• TotalFBO