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BUS 237 (192)

Unit 2 - Textbook Notes

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Business Administration
BUS 237
Kamal Masri

Unit 2 Business Processes Information and Decision MakingHow did this stuff get hereWe are surrounded by business processesUnderstanding how things work helps us to make us more valuable memboers of the economyWhat is a Business Process Business process also referred to as a business system a network of activities resources facilities and information that interact to achieve some business objectiveDescribes a set of activities that are necessary to complete a response to a stimulus applied to an organizationie inventorymanagement processes manufacturing processes sales processes and customersupport processes o Inventorymanagement process works to balance the demands from customers with the inventory purchased from suppliersStimulus online orderSet of activities prepare orderResponse deliver order o All of the activities are required to recognize the stimulus and develop and implement the final response are components of the business processRoutine business processes o Fulfilling customer order o Receiving shipment for inventory o Reviewing loan applications o Creating a two week payrollMore complex business processes o Developing a new product o Deciding on a location for new store o Designing a new marketing campaignWhat are the components of a Business Process A business process consists of activities resources facilities and information Activities transform resources and information of one type into resources and information of another type ie payment update Resources items of valueDirects and control in the businessExample Resources o Internal to organization
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