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Bus237 - 2 Vocab.pdf

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Business Administration
BUS 237
Zorana Svedic

Bus 237Management Information Systems Chapter 2Chapter 2 Business Process Management and Decision Making Business process A network of activities resources facilities and information that interact to achieve some business function sometimes Business system 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
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