Terms : Hide Images
| 1733442705 | Business Environment | The combination of social, legal, economic, physical, and political factors in which businesses conduct their operations | 0 | |
| 1733442706 | Business Information Technology Alignment | The tight integration of the IT function with the strategy, mission, and goals of the organization | 1 | |
| 1733442707 | Business Process | A collection of related activities that produce a product or a service of value to the organization, its business partners, and/or its customers | 2 | |
| 1733442708 | Business Process Improvement (BPI) | A methodology for achieving incremental improvements in the effectiveness and efficiency of a process | 3 | |
| 1733442709 | Business Process Management (BPM) | A management technique that includes methods and tools to support the design, analysis, implementation, management, and optimization of the business process | 4 | |
| 1733442710 | Business Process Reengineering (BPR) | A radical redesign of a business process that improves its efficiency and effectiveness, often beginning with a "clean sheet"(form scratch) | 5 | |
| 1733442711 | Competitive Advantage | An advantage over competitors in some measure such as cost, quality, or speed; leads to control of a market and to larger than average profits | 6 | |
| 1733442712 | Competitive Forces Model | A business framework devised by Michael Porter that analyzes competitiveness by recognizing five major forces that could endanger a company's position | 7 | |
| 1733442713 | Cross Functional Business Process | A process in which no single functional area is responsible for its completion; multiple functional areas collaborate to perform the function | 8 | |
| 1733442714 | Digital Divide | The gap between those who have access to information and communications technology and those who do not | 9 | |
| 1733442715 | Entry Barrier | Product or service feature that customers expect from organizations in a certain industry; an organization trying to enter this market must provide this product or service at a minimum to be able to compete | 10 | |
| 1733442716 | Globalization | The integration and interdependence of economic, social, cultural, and ecological facets of life, enabled by rapid advancements in information technology | 11 | |
| 1733442717 | Make to Order | The strategy of producing customized products and services | 12 | |
| 1733442718 | Mass Customization | A production process in which items are produced in large quantities but are customized to fit the desires of each customer | 13 | |
| 1733442719 | Organizational Social Responsibility (also individual social responsibility) | Efforts by organizations to solve various social problems | 14 | |
| 1733442720 | Primary Activities | Those business activities related to the production and distribution of the firm's products and services thus creating value | 15 | |
| 1733442721 | Six Sigma | A methodology for continuous BPI focused on reducing defects in process outputs by using statistical methods | 16 | |
| 1733442722 | Strategic Information Systems (SIS's) | Systems that help an organization gain a competitive advantage by supporting its strategic goals and/or increasing performance and productivity | 17 | |
| 1733442723 | Support Activities | Business activities that do not add value directly to firm's product or service under consideration but support the primary activities that do add value | 18 | |
| 1733442724 | Value Chain | A sequence of activity through which the organization's inputs, whatever they are, are transformed into more valuable outputs, whatever the are | 19 | |
| 1733442725 | Value Chain Model | Model that shows the primary activities that sequentially add value to the profit margin; also shows the support activities | 20 | |
| 1733442726 | Value System | Includes the procedures, suppliers, distributors, and buyers, all with their value chains | 21 | |
| 1733442727 | Resources | People and equipment that perform process activities | 22 | |
| 1733442728 | Phases of BPI (DMAIC) | Define, measure, analysis, improve, and control | 23 | |
| 1733442729 | Michael Porters Competitive Forces | Threat of entry of new competitors, bargaining powers of suppliers, bargaining powers of customers(buyers), threat of substitute products or services, and rivalry among existing firms in the industry | 24 | |
| 1733442730 | Primary Activities of Manufacturing Companies | Inbound Logistics(inputs), operations(manufacturing and testing), outbound logistics(storage and distribution), market and sales, services | 25 | |
| 1733442731 | Types of Supporting Activities | The firms infrastructure(accounting, finance, and management), human resources management, product and technology development(R&D), procurement | 26 | |
| 1733442732 | Strategies for Competitive Advantage | Cost leadership, differentiation, innovation, operational effectiveness, customer orientation | 27 | |
| 1733442733 | Cost Leadership Strategy | Produce products and/or services at the lowest cost in the industry | 28 | |
| 1733442734 | Differentiation Strategy | Offer different products, services, or product features | 29 | |
| 1733442735 | Innovation Strategy | Introduce new products or services, put new features in existing products or services, or develop new ways to produce them | 30 | |
| 1733442736 | Operational Effectiveness Strategy | Improve the manner in which internal business processes are executed so that a firm performs similar activities better than its rivals | 31 | |
| 1733442737 | Customer Orientation Strategy | Concentrate on making customers happy | 32 |
