Chapter 2 Definitions

Chapter 2 Definitions - Chapter 2 Page 24: Business process...

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Chapter 2 Page 24: Business process – a network of activities, resources, facilities, and information that interact to achieve some business function; sometimes called a business system. Business system – another term for business process . Page 26: Activity – the part of a business process that transforms resources and information of one type into resources and information of another type; can be manual or automated. Resources – items of value, such as inventory or funds, that are part of a business process. Facilities – structures used within a business process. Information – 1. Knowledge derived from data, where data is defined as facts or figures; 2. Data presented in a meaningful context; 3. Data presented by summing, ordering, averaging, grouping, comparing, or other similar operations; 4. A difference that makes a difference. Page 27: Accurate information – information that is based on correct and complete data that has been processed correctly as expected. Timely information
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Chapter 2 Definitions - Chapter 2 Page 24: Business process...

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