Question

Consider two processes. If both versions create the same benefit, but one costs more than the other, the higher-cost version is less ________ than the lower-cost version.

Answer 1

Consider two processes. If both versions create the same benefit, but one costs more than the other, the higher-cost version is less Efficient than the lower-cost version.

What is Process Quality?

Process Quality = measured in two dimensions: process effectiveness and process efficiency

Effective Business Process = enables the organization to accomplish its strategy. ex: investigating whether 3D printing will help accomplish the strategy of having the largest selection of parts in the industry

Efficiency Business Process = the ratio of benefits to costs. ex: consider two versions that create the same benefit, but one costs more than the other does, meaning the higher-cost version is less efficient than the lower-cost version/if both versions cost the same, but one generates less benefit than the other, then the lower-benefit one is less efficient.

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