BUS 237 Chapter : Bus237 - 2 Vocab.pdf
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BUS 237 Full Course Notes
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Chapter 2: business process, management, and decision making. A network of activities, resources, facilities, and information that interact to achieve some business function; sometimes called a business system. Parts of a business process that transform resources and information of one type into resources and information of another type; can be manual or automated. Items of value, such as inventory or funds that are part of a business process. Information that is produced in time for its intended use. Information that is appropriate to both the context and the subject. When an appropriate relationship exists between the cost of information and its value. The process of generating information that will be useful for management and strategy decisions. A business process improvement method focused on improving quality. A manufacturing method focused on using resources as efficiently as possible. An information system in which the hardware and software components do most of the work.