The management system should be an open system and MIS should be so designed that it
highlights the critical business, operational, technological and environmental changes to the
concerned level in the management, so that the action can be taken to correct the situation. To
make the system a success, knowledge will have to be formalized so that machines
worldwide have a shared and common understanding of the information provided. The
systems developed will have to be able to handle enormous amounts of information very fast.