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Chapter 2

MIS Chapter 2 Business Process, Management and Decision Making.docx

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Simon Fraser University
Business Administration
BUS 237
Zorana Svedic

Bus 237 Management Information Systems Chapter 2 Chapter 2: Business Process, Management, and Decision Making Business process A network of activities, resources, facilities, and information Business system that interact to achieve some business function; sometimes called a business system Activities Parts of a business process that transform resources and information of one type into resources and information of another type; can be manual or automated Resources Items of value, such as inventory or funds that are part of a business process Facilities Structures used within a business process. Information 1. Knowledge derived from data, where the term data is defined as recorded facts or figures 2. Data presented in a meaningful context 3. Data processed by summing, ordering, averaging, grouping, comparing, or other similar operations 4. A difference that makes a difference Accurate information Information that is factual and verifiable Timely information Information that is produced in time for its intended use Relevant Information that is appropriate to both the context and the subject Sufficient Adequate information to perform the task Barely so Worth its cost When an appropriate relationship exists between the cost of information and its value Business process management (BPM) The process of generating information that will be useful for management and strategy decisions Total quality management (TQM) A business process improvement method focused on improving quality Six sigma A business process improvement method developed by Motorola that focuses on developing quality Lean production A manufacturing method focused on using resources as efficiently as possible Automated system An information system in which the hardw
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