Enterprise Business Process
In simple words we can say,
"Business refers to interaction between two parties where one is seller and another is buyer, and both are mutually benefited."
Note: every business needs to work towards maximizing value delivery to customers and creating competitive advantage.
- A Business Process is an activity or set of activities that takes input to produce output and accomplish a specific organizational goal.
- Business processes are designed as per vision and mission of top management and design is directed towards creating competitive advantage.
- Design of business process directly impacts the company's success or failure.
Business process management:
- Business Process Management (BPM) is a systematic approach to improving business processes.
- BPM helps achieving 3E's of business process; those are Efficiency, Effectiveness and Economy.
- BPM is basically set of tools, methods, techniques and procedures used to improve a business process in terms of cost, speed, quality and service.
Categories of Business Processes
- The key guiding factor for any business process shall be top management vision and mission and Strategic plan.
- Vision and mission shall be achieved by implementing operational, support and management services referred as categories of business process.