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27 Jun 2018

1. What is business process management (BPM)?

2. Why do processes need management?

3. What are BPM activities?

This is an information systems management course.

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Jamar Ferry
Jamar FerryLv2
28 Jun 2018

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Actions for Discussion Issue: Balanced Planning to Achieve ST and LT Objectives

This issue has three parts.

The notion of value-based management has become widely embraced by corporate managers. As the authors of a recent article entitled, “The Value-Based Management Commitment,” (see http://businessfinancemag.com/bpm/value-based-management-commitment) point out, the real problem associated with value-based management is the development of appropriate metrics to achieve behavioral changes. One challenge is that value-based management concepts never make it out of the finance department. After reading this article, answer the following questions:

1. What is the goal of value-based management? Is its focus on reported earning or shareholder/stakeholder wealth?

2. Describe the difficulties in developing performance measures and the role that the finance department should play in developing appropriate measures.

3. What is one of the major problems associated with the budget process as it is used by most companies in short-term planning?

How do companies manage risk? What are the factors that contribute to a high-risk project?

List the four main processes of knowledge management. Which process is the most difficult to perform? Why

The AICPA Special Committee on Financial Reporting proposed thefollowing constraints related to financial reporting.

1. Business reporting should exclude information outside ofmanagement’s expertise or for which management is not the bestsource, such as information about competitors.

2. Management should not be required to report information thatwould significantly harm the company’s competitive position.

3. Management should not be required to provide forecastedfinancial statements. Rather, management should provide informationthat helps users forecast for themselves the company’s financialfuture.

4. Other than for financial statements, management need reportonly the information it knows. That is, management should be underno obligation to gather information it does not have, or does notneed, to manage the business.

5. Companies should present certain elements of businessreporting only if users and management agree they should bereported—a concept of flexible reporting.

6. Companies should not have to report forward-lookinginformation unless there are effective deterrents to unwarrantedlitigation that discourages companies from doing so.

For each item, briefly discuss how the proposed constraintaddresses concerns about the costs and benefits of financialreporting.

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