Management information system (MIS):

A management information system (MIS) is a system or process that provides the information
necessary to manage an organization effectively. MIS and the information it generates are
generally considered essential components of prudent and reasonable business decisions.
People have relied on MIS to communicate with each other using a variety of physical devices
(hardware), information processing instructions and procedures (software), communications
channels (networks), and stored data (data resources) since the dawn of civilization.

Information system:
An information system (IS) is the study of complementary networks of hardware and software that
people and organizations use to collect, filter, process, create, and distribute data.
In a very broad sense, the term information system is frequently used to refer to the interaction
between people, data and technology.

Operational efficiency:
Operational effectiveness refers to maximizing the use of inputs in order to carry out similar
activities better than ones competitors. So it deals with minimization of waste and maximization
of resource capabilities, in order to deliver quality products and services to customers.
It is concerned with designing new work processes that improve quality and productivity
Improving operational efficiency has a direct impact on the company's profit margins.
Another example is of Agilent Technologies, based in Santa Clara, California, implemented
companywide supply chain, facilities, and real estate management initiatives to meet its savings
goals, and generated $4.9 million in operational cost savings in just seven months.

Functional effectiveness:
FE is how effective an organization is in achieving the outcomes that it intends to produce.
It means ensuring the best combination, alignment and coordination of resources both internal and
outsourced to support implementation and ongoing administration of functional policies, programs
and services.
Companies use organizational effectiveness to measure any number of things, from the relationship
between employee performance and company profits to the correlation between manufacturing
processes and production volume.

Efficiency is doing things right, but effectiveness is doing the right thing. An example is if you
visualize an automobile coming down an assembly line, (sparks flying as the robotic arms of the
automated welding machines do their work), these robots are far more efficient at welding than any
human could ever be. However, if the robots are welding the door shut, the process is still
efficient, but certainly not effective.