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ITM 102 Chapter Notes - Chapter 3: Business Process Reengineering, Business Process, European Cooperation In Science And Technology

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29 Mar 2011

School

Ryerson University

Department

Information Technology Management

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Professor

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Document Summary

Business orgainzation and business processes: business strategy: a broad-based formula for how business is going to compete, what its goals should be, and what plans and policies will be needed to carry out goals. Stakeholders and boundaries in the business environment: stakeholder: person or entity that has an interest in and influence on how business will function, external or internal relative to system. How businesses organize to create value: businesses possess structures that organize information, responsibility, and authority. Business process: business process: collection of activities that takes one or more kinds of input and creates an output (product or service) that is of value to customer. Process shown as input -> process -> output: hundreds of processes running business; linked together and interact with one another to achieve various goals. Sub-processes is one or more task that accomplish significant portion or stage of process. Igoe: method used in process mapping that illustrates inputs, guides, outputs, and enablers of process www. notesolution. com.

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Related Questions

Checking the competitive advantage potential of cross-business strategic fit involves:

A) evaluating a diversified company's profitability relative to competitors.

B) examining a company's costs relative to the costs of its chief rivals in the industry.

C) determining if there are opportunities to exploit outsourcing opportunities by a diversified company's lineup of businesses.

D) considering what competitive value can be generated from a strategic fit.

E) evaluating how much benefit a diversified company can gain from cross-business value chain matchups and resource sharing.

The two biggest drawbacks or disadvantages of unrelated diversification are

A)underemphasizing the importance of resource fit and the strong likelihood of diversifying into businesses that top management does not know all that much about.

B)insufficient cash flows to finance so many different lines of business and a lack of uniformity among the strategies of the businesses it has diversified into.

C)volatile sales and profits and making the mistake of diversifying into too many cash cow businesses.

D)the difficulties of competently managing many different businesses and being without the added source of competitive advantage that cross-business strategic fit provides.

E)over-investing in the achievement of economies of scope and the difficulties of achieving a good mix of cash cow and cash hog businesses.

carmineserval589

Which of the following statements is true of business ethics?

a)All business actions deemed unethical by society are necessarily illegal.

b)Business ethics and personal ethics are synonymous.

c)The acceptability of behavior in business is determined by not only an organization but also its stakeholders.

d)Business ethics is independent of an organizational culture.

e)Profit in business is the only glue that holds relationships together.