MIS in Managing Corporate Performance:
At the beginning, organizations assessed their performance on a monthly basis. They considered only two aspects: first, whether the objectives framed in the strategic plan were met and second, whether the budget targets exceeded their expectations. Over the years, the managements began to feel the need for finding ways to drive the organizational strategy down and across the organization. It experimented with ways to transform on-the-paper strategies into action. The management also tried to find out the cause-and-effect relationships which would help those who were involved in operational decision-making.
In fact, until the introduction of information systems, it was not possible for business organizations to collect and analyze data. In the year 1970, the introduction of the decision support systems helped the organizations to analyze departments individually. These systems provided a means for organizations to forecast the future. The use of multidimensional technologies which were mainframe-based helped the managers to analyze and make plans based on the customers, product lines, distribution channels, etc.
The executive information systems introduced in the 1980s helped the organizations to list out a summary of the day-to-day transactions. These systems provided technology to the management which could be used for investigating the strengths and weaknesses of the organization without the need for programmers.
By the year 1990, with the introduction of computer technologies, the concepts of business intelligence, enterprise resource planning, and customer relationship management gained popularity. The aspects of business planning, business reporting, and business analysis began to gain importance with the introduction and use of advanced management techniques combined with technology. Business intelligence speeded up the planning, reporting, and analysis processes. Also, during this time, personal computers and online media became increasingly available.
Though organizations were well aware of the advantages of technology, managers struggled to find ways to execute the business strategies in a better way. This further led to the introduction of management techniques like the balanced scorecard. The balanced scorecard laid stress upon organizations concentrating on the planning and monitoring aspects of the business and not just on financial results. Aspects like efficient internal processes, internal growth, internal learning, customer retention, etc. were emphasized. Though techniques like the balanced scorecard were effective, they did not provide a complete solution to the business organizations.
The demand was more for an integrated organization in which the various management techniques were combined with the management processes like budgeting, forecasting, reporting, etc. Such integration supported by technology, helped the organizations to properly plan and improve their business processes. All these developments led the managers to implement or execute the business strategies. This, in turn, paved the way for the development of a concept called Corporate Performance Management.
CPM provides an organizational structure that connects all the elements that are required to plan, monitor, and manage the business strategies of the organization. These elements include performance metrics and the technologies that are required to support them. CPM is based on the assumption that all people controlling it are working on a common set of data and assumptions about the business. Therefore, it is required that all managers should have a proper understanding of what drives the business, or the data that is used for describing the results. This helps in viewing the decisions consistently and comparably.
In the present scenario, technology is widely being used for conducting performance reviews. Performance management software packages are available in the market, which help organizations to manage performance throughout the organization. An organizational performance system which is assisted by the software helps in providing flexibility and consistency to the management. The software enables the management to create a review system in which all the employees are evaluated using the same criteria. It also allows only those programs to be developed which are relevant to the individual departments in the organization. The software also directs the manager in writing a performance review. With the help of the software, the observations made by the managers are easily and accurately transformed into words in very little time. Performance management software ensures consistency all through the years.
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