BUS 237 Study Guide - Business Process, Accounts Payable, Unst

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 237
• Professor: Kamal Masri

Document Summary

A business process is fair; a network of facilities, activities, information and resources that collectively operate in response to a stimulus/business issue. Facilities: structures used within the business process. (inventories, databases, factories, equipment). Activities: transform resources and info into other resources or info. Catalysts. (payment activity turns quantity received and shipping invoice info into supplier payment, a resource). Information: knowledge derived from data, or, data presented in a meaningful context. Information must be accurate, timely, relevant, just sufficient and worth its cost. Accurate: based on data that"s correct, complete and processed correctly. (representational faithfulness, as it were). Timely: produced in the time for its intended use. Relevant: to context and subject (not too broad or too narrow, specific to what we"re talking about). Just barely sufficient: ignore irrelevant info, only read what is necessary. Cashiers use automated is"s, accounts payable clerks use mostly manual is"s, purchasing clerks use balanced is"s. Information systems provide the raw material for making decisions.