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BUS 237 (192)
Chapter

Bus237 - 2.pdf

4 Pages
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Department
Business Administration
Course Code
BUS 237
Professor
Zorana Svedic

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BUS 237 Chapter 2 Notes Business Processes Information and Decision Making Business process is important because it central to every organization It helps organization deliver goodsservices to customers earning profit achieving goals We increase our value in the economy by understandings how things are put in place and interact with othersBusiness ProcessesSometimes called business system is a network of activities resources facilities and information that interact to achieve some business objectiveA set of activities needed to produce response to a stimulus applied to an organizationThere are different types of business processes o Inventorymanagement processes manufacturing processes sales processes and customersupport processesRoutine business processes are usually computerized Complex business processes are usually manually generatedComponents of a business processActivities transform information and resources from one type to another o It can be done manually automated or usually a combination of both o Example payment activities transforms quantity received and invoice information to a payment for the supplier resource is money o It must follow procedures and rulesResources items that have values o External have value in the process so they are not activities o There are two types of resources external and internal to the company example cash employees inventory controlled by the company valued customers creditors cannot controlledFacilities things that you can store data and information in structures o Example inventories and databasesInformation data with meaning Data that tells something relevant to the user What we want to know about datao Activities use information to transfer from inputs to outputs o Business create process and store information o Example the average minimal wage for a class is information collect from our data of all the classs wage o Do something summing ordering averaging grouping comparing or performing other functions to data to produce information o Information can make a difference in decisionsData recorded facts and figures with no meaningCharacteristics of good information o Accurate complete and correct data based so we can rely on the information to make the best decisions If the system is inconsistence with its information then it will ruin the reputation of the company and waste resources
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