What is Management Information System (MIS)? What are the components of an information system? Discuss the applications of Information Systems in Business and Society with suitable examples

Management Information System (MIS) is an organized system of information that provides managers and decision-makers with timely and accurate information for decision-making. It is a computer-based system that helps to store, process, and retrieve data required for decision-making. MIS involves the use of computerized information systems that aid in collecting, storing, processing, and analyzing data and information to support decision-making processes.

Components of an Information System:

1. Hardware: It refers to the physical components of an information system that include computer equipment, input devices, output devices, and ____ _________ ____ __________ _____ _____ _________ ___ ______ _______.
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