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Types of Information System

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Operational Excellence;
Businesses continuously seek to improve the efficiency of their operations in order to achieve higher profitability. Information systems and technologies are some of the most important tools available to managers to managers for achieving higher levels of efficiency and productivity in business operations, especially when coupled with changes in business practices and management behavior.
New Products, Services, and Business Models;
Information systems and technologies are a major enabling tool for firms to create new products and services as well as entirely new business models.
A business model describes how a company produces, delivers, and sells a product or service to create wealth.
Customer and Supplier Intimacy;
When a business really knows its customers and serves them well, the customers generally respond by returning and purchasing more. This raises revenues and profits. Likewise with supplier, the more a business engages its suppliers, the better the suppliers can provide vital inputs. This lowers costs.
Improved Decision Making;
Many business operate in an information fog bank, never really having the right information at the right time to make an informed decisions. Using the information, managers can immediately allocate repair resources to affected areas, inform consumers of repair efforts, and restore service fast.
Competitive Advantage;
When firms achieve one or more of these business objectives-operational excellence; new products, services, and business models; customer/supplier intimacy; and improved decision making-chances are they have already achieved  competitive advantage.
Survival;
Business firms also invest in information systems and technologies because they are necessities of doing business. Firm turn to information systems and technologies to provide the capability to respond to these challenges.

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MANAGEMENT INFORMATION SYSTEM
SUBMITTED BY;
Anu Maan(06)
Kanica Sharma(12)

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An information system can be defined technically as a set of interrelated components that collect, process, store, and distribute information to support decision making, coordination and , control , information systems may also help managers and workers analyze problems, visualize complex subjects, and create new products.