Introduction
Eastern Bank
Limited (EBL) began its journey in August 1992. Over the year EBL has
established itself as a leading private commercial Bank in the country with an
establish leadership in corporate banking and a strong customer and SME growth
engines. At presents EBL Consumers, SME and Corporate Banking units are capable
of handling every kind of customer needs. The customers are served through a
network of 49 Branch. 74 ATMs and 5 Kiosks countrywide. EBL has its presents in
11 major cities/town in the countries include Dhaka, Chittagong, Sylhet, Khulna,
Rashia and Cox’s Bazaar. It is the first local bank for go online.
► Management Information System (MIS) :
A management support system that produces PR specified report, displays, and
responses on a periodic, exception or demand basis.
Management as
the performance of planning and control activities at the strategic, tactical
and operational decision making level of an organization.
2. What are benefits of using management information system?
Benefit of MIS: The following
are some of the benefits that can be attained for different types of
information management systems:
◙ Easy to
decision making
◙ Compare with
other years
◙ Access of
information
◙ Interpretation
of data
◙ Prepared
annual report
◙ Analyses of
current position
◙ Future
planning
◙ Trade analysis
◙ Reduce cost
◙ Focus on goals
◙ Easy to
maintain
►Easy to decision making: Since
all organizational information has been stored in to the MIS. The MIS analyses
are properly help the manager in decision making. All of the database using
different tool and techniques of decision making. Suppose Eastern Bank Ltd (EBL)
top manager have need to make a decision on a specific need then the manager
have not need to find out the dairy book or the daily paid, they can get all
the information by searching MIS. So it
is the most useful benefit of using MIS.
► Compare with other years: All
the organizational information remains into the MIS. So, in 2009 and 2010 how much
Eastern Bank earned and hour much losses and how will be the next year profit
of Eastern Bank and losses. When the EBL compeer it, then they get a
information that the company is a good place or not.
Five year’s progression of EBL given below.
► Access of information: Information
is considered to be an important asset for any company in the modern
competitive world. MIS helps Eastern Bank in identifying storage of
data. The data is maintained in such a way that the unnecessary duplication of
data avoided. By getting information Eastern Bank Ltd (EBL) can meet the
organizational objectives. MIS is a access of information, it increase the surety
to achieve the organizational goal. All information is stored into the MIS
that’s way for any information MIS play an important role in Eastern Bank. On
the other hand, information system used to create new information technology
based on product and service.
► Interpretation
of data: In the MIS all data left very interpretational. MIS is an
explanation of data. When Eastern Bank Ltd (EBL) needs any information with
details the MIS help to give the information with details. That’s way it is one
of the benefit of MIS.
► Prepared annual report: MIS is
the most important part for any company to prepare annual report. Eastern Bank
Ltd (EBL) prepared annual report by using MIS. it includes Directors Report,
Internal control review, Product Basket, Notice, Proxy from, Branch Network and
so on. Eastern Bank Ltd annual report prepared by their MIS department. A
company annual report doesn’t make any department without their MIS department.
Because all organizational information stored into their MIS department that’s
way it is so easy for MIS department to make the company annual report.
► Analyses of current position:
Scenic all data or information stored into the MIS. So, Eastern Bank Ltd (EBL)
can understand how is their financial condition, internal condition, external
condition, investment, securities and over all activities of the company. By
analyzing the company current position, it is so easy to take decision. On the
other hand, a organizational top manager take all the decision about their
organization, as like mid-level manager have also some work, they have to
decide their decision about the company, manager can take decision by analyzing
the company current position.
Following are
the compare of BBL with the other Bank
► Future planning: By analyses
current information that means company current position like financial
condition, internal condition, external condition, investment, securities and
over all activities, if their have something lacking like,
EBL mission
We deliver
service excellence to all our customers both internal and external
Weill ensures to
maximize shareholders value.
We will
constantly challenge our systems, procedures and training to maintain a
cohesive and professional team I n order to achieve service excellence
We will create
an enabling environment and embrace a team based culture where people will
excel
EBL vision
To become the
bank of choice by transforming the way we do business and developing a truly
unique financial institution that delivers superior growth and financing
performance and be the most recognizable bend in the financial services in
Bangladesh.
then what should do and if there have
something extra then what decision should take in the future, what would be
their future plan and what should do for develop the company, it’s only can MIS.
► Trade analysis: By using MIS
Eastern Bank Ltd (EBL) can purchase or sell their share, and any company MIS
department also can sell share on online MIS also help on Exportation and
Importation of product. Share purchase and sell complete with the MIS.
► Reduce cost: By using internet
and other telecommunication network to interconnect key business areas can
substantially reduce the cost of production, inventory, distribution or
communication EBL. Thus Management Information System technology has helped
Eastern Bank Ltd (EBL) cut labor cost, minimize inventory level, reduce the
number of distribution centers and lower the communication cost.
► Focus on goals: MIS focuses on
the EBL results and goals, and highlights the factors and reasons for non-activities. It increases the surety to achieve the goal.
MIS recognizes EBL the different information needs for different objectives.
All data thus remain into MIS are solid that’s way when manager take decision
then decision taken with following the data. So it focusses on achieve goals.
► Easy to maintain: Science Top
level manager is the important part for EBL or any company and all the decision
taken by the manager. All information come with details on the hand of the
manager, so after analyzing all the details information EBL senior manager can
see that which employee doing batter work and who are not. Then the manager can
go front of them and can asked them their problem and after that the manager
can motivate their employee. So it is so easy only for information system to
maintain their employee and the company discipline.
3. Which
problems the organizations face by using management information system?
MIS is an information system
which helps in providing the management of an organization with information which
is used by management for decision making. A management information system is a
subset of the overall internal controls of a business covering the application
of people, document, technologies and procedures by management accountant to
solving business problem sues as costing a product, service or a business wide strategy,
An MIS is a system panned of the collecting processing storing and
disseminating data in the form of information needed to carry out the function
of management. All organization has MIS many benefits but sometimes it can creamy
problem.
For using management information
system is creating many problems. These problems are giving below.
Ø Strategic
planning Problem:
Strategic planning play a significant role of EBL. A good strategic
planning can give a positive goal for an organization. The strategic planning
involves using information technology to develop products, services and
capabilities that give a company strategic advantages over the competitive
forces in the global marketplace. If the strategic planning is not correct then
it can create a big problem.
Ø Transaction
processing problem: Transaction processing System is very
important for any organization. It records and process data resulting of EBL
transaction. Operational level manager keeps the transaction processing system.
It also produces a variety of information products for external or internal as.
They produce client statements, employee paychecks, sales receipts, dividend
check, tax forms and financial statements. But sometimes records wrong
transaction as a result, it creates big problem of EBL.
Ø Lack
of data problem: In MIS correct data collect is important. If
any error in data collecting, MIS cannot give a proper information. An
organization suffers lot for error data. So correct data is important. If any
data is error, EBL should correct data in time.
Ø Computerize
problem: Computer Problem is large problem for
management information system. Though MIS Computer does date processing and
analyzing, other department cool collect data from here. So MIS Department is
affected by computer problems. These problems are tow type.
Such as.
(i)
Hardware problem.
Hardware generally refers to the machines or
physical equipment that performs of the date processing cycle. Due to Hard ware
problem, computer is his Butting. So MIS department is affected by this problem.
(ii)
Software problem.
Program are referring
to as software a Program is a sequence
instruction, which directs a computer to perform certain functions,
Operating systems are affected by software problem. Date processing and
collecting are created problem by essential software.
Ø Payroll
processing problem:
Payroll processing system receives and maintains data from employee time
cards and other work records. Computer-based payroll systems help business make
prompt and accurate payments to their employee, as wells report to management,
employee, and government agencies concerning earnings, taxes, another deduction
lack of right employee work records, it creates problem for any organization.
Ø Expert
employee need for IT:
Expert employee is principal workers for an organization. EBL should
seek to expert employee for it. Employee should be aware of their management
problems and opportunity presented by the use for information technology
organizations should train the employee, so that they are conscious about it.
If employee is not expert then, it may hamper a big problem of EBL.
Ø Budgeting
problem: Budgeting is most important part for any
company/corporation. The budgeting process involves evaluating the profit
ability and financial impact of proposed capital expenditure. Long term
expenditure proposals for plants and equipment can be analyzed using a variety
of techniques.
Ø Taking
decision problem in time: Taking decision problem
in time is very important of EBL. Management level taking decision in time.
Making the right decision in organization is usually based on the quality of
data. Lack of taking decision in time it creates problem for any organization.
Ø Internet
or online problem: It is play a vital role of EBL. The
on-line interactive nature of such networks calls for new forms of transaction
documents, procedures, and controls. This particularly applies to systems like
order processing inventory, accounts receivable and account payable, these
systems are directly involved in the processing.
Ø Lack
of Man Power: Man Power is most important for EBL. A
Skillful employee can active an organization. Many Skill full man power can
improve the organization. So this problem should be solved of EBL.
4. Organizational
solution.
Organizational Solution: Eastern Bank (EBL) is the first local Bank
in Bangladesh to go online. It is Launched first ever Bank- Sponsored Mutual
Indus in Bangladesh. EBL, known for its product innovation in the market offers
a made range of depository, loan and card products to cater virtually for every
customer segment. But sometimes Easter Bank Limited (EBL) face problem for MIS
wrong information. If the systems approach to problem solving uses a systems
orientation to define problems and opportunities to define problems and Eastern
Bank limited (EBL) will be successes easily.
The systems approach to problem
solving uses a systems orientation to define problems and opportunities and
develop solutions. As Figure 4.1 illustrates, studying a problem and
formulating a solution involve the following interrelated activities.
1.
Recognize and define a problem or
opportunity using systems thinking.
2.
Develop and evaluate system solutions.
3.
Select the system solution that best meets
your requirements.
4.
Design the selected system solution.
5.
Implement and evaluate the success of the
designed system.
Let’s now examine each step of
the systems approach to problem solving to see how it can help you develop
solutions to business problems. Then we will apply the systems approach to
business case study example
Figure 4.1
The system approach to problem
solving. Note the major activities in solved in developing system solutions to
business problems. Also note that you can recycle back to a previous step if
further work in needed.
Define the problem:
Eastern Bank Limited (EBL) Problems and opportunities are identified in the
first step of the systems approach. A can be defined as a basic condition that
is cashing desirable results. An opportunity is a basic condition that presents
the potential for desirable results. A Problem or opportunity is one of the
most important aspects of the systems approach. Eastern Bank Limited (EBL) in
which a problem or opportunity arises could be viewed as a system of input
processing, output, feedback, and control components. Then to understand a
problem and sole it.
Developing
Alternative Solutions: Eastern Bank Limited (EBL) different ways can
solve any problem or pursue any opportunity. Jumping immediately from problem
definition to a single solution is not a good idea It limits options and robs
of the chance to consider the advantages and dies advantages of several
alternatives. Easter Bank Limited (EBL) also loses the chance to combine the
best points of several alternative solutions.
Evaluating
Alternative Solutions: Eastern Bank Limited (EBL) alternative solutions
have been developed; they must be evaluated so that the best solution can be
identified. The goal of evaluation is to determine how well each alternative
solution meets business and personal requirements. These requirements are key
characteristics and capabilities that are necessary for your personal or
business success.
Selecting
the best solution: Western Bank Limited (EBL) solutions have been
evaluated, can begin the process of selecting the best solution. Alternative
solutions can be compared to each other because they have been evaluated sling some
criteria. The two alternatives in can be screened and ranked and selected or
rejected, based on individual criteria or overall scores.
Design
the Solution: Eastern Bank Limited (EBL) a solution has been selected,
it must be designed. It is design specifications might describe the detailed
characteristics and capabilities of the people, hardware, Software and date
resources and information system activities needed by a new system.
Implement
the solution: Eastern Bank Limited (EBL) an implement solution
specifies the resources activities and timing needed for proper implementation.
For example, the following items might be included in the implementation plan
for a computer-based sales support system.
§ Operative
procedures for the new sales support system
§ Training
of sales reps and other personnel.
§ Conversion
procedures and timetables for final implementation.
Figure:4.2 How Xerox implements a system
approach in their problem-solving process.
5.
Our overview of solving MIS problem.
v Information
system development: When
the systems approach to problem solving is applied to the development of
information system solutions to EBL problem, it is called information system
development. Most computer-based information systems are conceived, deigned,
and implements process. Information systems have become a vital component of
successful organization. Information system includes systems that are not
intended for decision making. Is development is very important for EBL because
they get all organizational information by IS.
v Improve
the payroll processing system: Payroll
processing systems receive and maintain data form employee time cards and other
work records. Computer-based payroll system helps businesses make prompt and
accurate payments to their employees, as well as, reports to management
employees and government agencies concerning earnings, taxes and other
deduction. Sometime it keeps wrong employee work records; therefore, it should
be improving for EBL.
v Improve
the transaction processing system: Transaction
is processing by stem record and process data resulting from organization
transaction. Operational level manager keeps the transaction processing system.
It also produces a variety of information products for external or internal
use. They produce client statements, employee paychecks, sales receipts,
dividend check, tax forms and financial statements. If the manager keeps wrong
transaction, it will be bad record for EBL. EBL should improve the transaction
processing system, because it depends on organization is goodwill.
v Improve
the decision making system: Right decision is very important for any
organization. Serve management level with data analysis for making
decision. Making the right in
organization is usually based on the quality of data lack of decision making in
time, it creates problem for any organization. So EBL should improve the
decision making system.
v Keep
the current and ad-hoc information: Current
and ad-hoc information play a significant role for EBL. Manager should always
keep the current information. It the take ad-hoc information it will positive
aspect for any organization. Lack of current information, organization cannot
gain positive goal. It should take all organization, so organization success
possible easily.
v Apply
the new hardware and software: Evaluate
and acquit new hardware and software. Hardware includes computer system,
telecommunication process and network facilities. Software includes network management programs
and transaction processing packages. EBL should always apply the new hardware
and software.
v End user involvement: One
of the keys to solving problems of end users resistance to new information
technologies is proper educating and training. Even more important is end user
involvement in organizational system. Direct end user participation in systems
development projects before a system is implemented is especially important in
reducing the potential for end user resistance. The involvement helps ensure
that end users assume ownership of system, And that its design meets their
needs. So end user involvement is very important for EBL.
v Solved budgeting problem: The long –term/ short-term planning for
making and financing investments that affect financial results over a period
longer than just the next year. If budget is perfect, it will be improved
organization to complete any works. So top level manager should be monitored
for perfectly budget, so EBL will be successes quickly.
v Strategic
plan for information systems: A
process that includes defining goals. Establishing strategy. And developing
plans to coordinate activities, Planning is most important matter for and
wording. A good plan can give our good future. If any problem planning this
problem mast be solving by analyzing.
v End User development: User is principal
person for operating computer. So user develop are most important. To develop
user follow many step.
Like.
. Practice
. Motivating
. Communicating
. Monitoring
v Educate and train manager: Manager should be
educated. Because he/ she manage a management from his / her position. To
complete his works perfectly are better to take training. Educate and train
manager is very important for EBL, SO EBL will be successes easily.
v Legal condition: Legal
condition is most important for any works quietly. Employs are attentively during a legal
condition. EBL should be give legal condition to employ/clients.
6. How organizations develop their
organizational planning by collecting
the information from other company MIS department?
A perfect plan is very important for a company, So, Top
manager is collected many information for perfect planning. If is perfect
information it will be strong planning, If this is company with others develop
company, It will realize perfect or imperfect.
So Top manager should be flowed from developed company of
MIS department for a perfect planning, Top manager can step form others
developed company for information such as, That company can collect information
form.
Such as, Top manager can collect information form that
company by website. Pop manager communicate with that companies managers to
bring information, Pop manager make inter-relation with that companies MIS
department for collection information.
Discuss about organizational planning is give below.
Organizational Planning: Planning is deciding what to do
before you do before you do it. Most of us would agree planning is an important
ingredient of success. If you spend time and effort thinking about the best way
to reach a goal before you begin to reach for it, you are planning, and your
chances of accomplishing your goal should be enhanced. That’s why organization
and their management teams plan.
Many companies now go through an organizational planning
process of (1) tem building, modeling, and consensus, (2) evaluating what they
have accomplished and the resources they have acquired, (3) analyzing their
business, economic, political, and societal environment, (4) anticipating and
evaluating the impact of future developments, (5) building a shared
vision and deciding on what goals they want to achieve, and (6) deciding what action to take to achieve their goals. See Figure 6.1
The result of this planning process is called a plan,
which formally articulates the actions we feel are necessary to achieve our
goals. Thus, a plan is an action statement. Plans lead to actions, actions
produce results, and part of planning is learning form results. In this
context, the planning process should be followed by implementation, which
should be followed by control measures, which provide feedback for planning.
That’s why implementation and control of IT and the subjects of the next
section and chapter.
The organizational planning process. Note the role of
team processes and implementation methods in the planning process.
Conclusion
MIS
department is called financial intelligent
department. So, this department is very important for any organization.
Organization should direct the company with the skillful manager and manpower.
It department carry many benefit. This benefits help to develop any company.
There are many company/bank in our country has not MIS department
available. So, we want to tell, the company
should open MIS department rapidly.
BIBLIOGRAPHY
1.
Eastern Bank Ltd (EBL) annual report.
2.
Mr. Khaja Mohammad Fathe Ali.
(Associate Manager, MIS in Eastern Bank Ltd).
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