Simulation 5: Management Information Systems.In the light of Task 4 you will have seen how much organisational success dependsupon being able to find the ‘perfect fit’ between the business environment (MarketConditions) and the capability of the organisation/company itself. The problem,however, is that organisations and their managers are often so focused on daily tasks,‘fire-fighting’, the short term, defending the status quo and striving towards strategictargets set in the past, that time to look at the present conditions or to think about thefuture is a luxury that cannot be afforded.Managers need time to be able to consider changes in the marketplace and broaderbusiness environment and their impacts and implications for company strategy andoperations. To do this, they need a vast range of information to be regularly andconsistently collected, organised, analysed, evaluated, communicated and shared in atimely fashion across the company.Instructions:In teams: each select ONE of ColmarCo’s three divisions (ensure no duplication)T1. AccommoCol: team of 6T2. TransCol: Team of 6T3. SustainoCol: Team of 4and produce a:Management Information Acquisition and Management SpecificationIdentifying a structure and process for identifying critical information required by thedivision to support management of change within the division and how it can beacquired, processed, transmitted and turned into useful management information.Remember: the company will need your proposal to be economic, effective andefficient – it will want innovative ideas of the lowest cost means of acquiring suchinformation. Prepare to present your Specification.T4 he Fourth team of 4: you are each going into Tourism with a view to amanagement role so you each need to be able to have your own ‘PersonalManagement Information System’ (regardless of who you are working for) to keepyou briefed. You do not, however, have a corporate-sized budget to do this.Produce your own ‘Personal Management Information System’ identifying thethings you will keep track of (and why) and the means by which you will do this inthe professional world. How will you collate such information so that you may use iteffectively?