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4 years ago

What is a business process? Why is adopting a process view of organizations essential to becoming a successful manager?

Business

1 answer:

alisha [4.7K]4 years ago

3 0

Explanation:

Business process can be defined as the series of interlinked activities starting right from making of a product to delivering that product to the customers. An organisation's success depends on its business processes that how effectively and efficiently they are performed to achieve business goals while remaining profitable.

Organisations takes some inputs, process them into final outputs. Inputs could be in the form of information, raw material etc, while outputs are the final products.

Managers needs to understand the process view because he should have complete knowledge of all the processes of an organisation. If they have this knowledge then they can easily evaluate, analyse, and modify the processes only and if they have deep insights about them.

For example: Manager working in KFC, should have knowledge about all the manufacturing, taking orders, serving customers and then taking feedback from them. Manager can only be effective if he has knowledge and he can understand and make them happen efficiently.

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Calligraph Publishing Company has created a system for storing every piece of data about every one of its books, both those that

igomit [66]

Answer:

knowledge management

Explanation:

Knowledge management relates to the mechanism by which an organization's knowledge and information is developed, exchanged, used and controlled. This refers to a multidisciplinary approach by making the best use through knowledge to attain organisational goals.

Knowledge management activities usually focus on institutional priorities like better performance, competitive edge, creativity, experiences gained exchange, alignment and institutional quality improvement.

7 0

3 years ago

Complete the following sentence.

grandymaker [24]

Answer:

Crucial or important?

Explanation:

Tell me if there's anything else to the question but I would say that it is very important to convince a person with understanding or appeal.

4 0

3 years ago

Read 2 more answers

New brands with a small market share tend to spend proportionately more for advertising and sales promotion than those with a la

mestny [16]

Answer:

b. New brands require higher spending to reach a minimum level of exposure needed to affect purchase habits

Explanation:

New brands with a small market share tend to spend proportionately more for advertising and sales promotion than those with a large market share because a certain minimum level of exposure is needed to measurably affect purchase habits.

3 0

3 years ago

What is the standard deviation of a portfolio's returns if the mean return is 15%, the variance of returns is 184, and there are

masya89 [10]

In the problem, the given data is the mean and the variance. Now to solve this problem, we must remember that the formula for variance is:

Variance = s^2

Where s is equivalent to the standard deviation, therefore:

s = sqrt (Variance)

Calculating for the value of the standard deviation given Variance = 184:

s = sqrt (184)

s = 13.56 % (ANSWER)

7 0

3 years ago

Determine the combined present value as of December 31, 2021, of the following four payments to be received at the end of each o

Alenkasestr [34]

Answer:

The question is incomplete, see the complete question below:

Determine the combined present value as of December 31, 2021, of the following four payments to be received at the end of each of the designated years, assuming an annual interest rate of 8%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1). Find N as well.

Payment Year Received

9,000 2022

9,600 2023

11,200 2025

13,400 2027

Combined present value 33,313.9

Explanation:

Present Value:The worth today of a sum receivable or payable in the future is called Present Value. It is premised on the concept of time value of money- that $1 today is worth more than $1 tomorrow. Why?

Because of the opportunity to invest; if invested, the $1 of today would earn interest so making it worth more than $1 dollar on the maturity day.

To calculate the present value of a future cash flow, we simply adiscount it using an appropriate discount rate which is the required rate of return. The discount rate is 8% in this question.

We can quickly calculate the Present Value (PV) using this formula:

PV = FV × (1+r)^(-n)

where FV - Future value, r- interest rate- 8%, n- number of years.

We can now apply these concepts to this question:

Year Present Value

2022 9000 × (1.08)^(-1) 8,333.3

2023 9,600 × (1.08)^(-2) 8230.5

2025 11,300 × (1.08)^(-4) 8305.8

2027 13,400 × (1.08)^(-6) <u> 8,444.3</u>

Combined present value <u>33,313.9</u>

6 0

3 years ago