The Functional Difference Between a DSS and an MIS Is

question 136

Short Answer

The functional difference between a DSS and an MIS is that a DSS contains models that use information to make decisions while an MIS is used to create ____________ from data.

Calculate and analyze departmental contribution to overhead and the impact of direct and indirect expenses on departmental profitability.

Understand the principles of costing joint products and allocating costs based on different bases such as physical units or market values.

Grasp the basics of performance evaluation systems and their role in managerial accountability and operational efficiency.

Understand the concept of investment center and its evaluation using return on investment and residual income concepts.

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Definitions:

Balanced Scorecard

A set of performance measures that provide a comprehensive view of the organization by recognizing the goals of shareholders, the satisfaction of customers and employees, and methods to improve the firms internal processes.

Corporate Performance

The evaluation of a company's effectiveness in achieving its goals, usually assessed through financial and operational metrics.

Financial Measure

A numeric representation of a company's financial health or performance, such as profit margins, return on investment, or earnings per share.

Balanced Scorecard

A strategic planning and management system that uses a mix of financial and non-financial measures to evaluate organizational performance.