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Outline Of Business Management
The following outline is provided as an overview of and topical guide to business management: Business management – management of a business – includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. For the general outline of management, see Outline of management. Overview * * * * * * Types of organizations * ** *** * – Autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise * * ** Areas of management application Management application can be used by a person or a group of people and by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Modeling
Business process modeling (BPM) is the action of capturing and representing business processes, processes of an enterprise (i.e. modeling them), so that the current business processes may be analyzed, applied securely and consistently, improved, and automated. BPM is typically performed by business analysts, with subject matter experts collaborating with these teams to accurately model processes. It is primarily used in business process management, software development, or systems engineering. Alternatively, process models can be directly modeled from IT systems, such as event logs. Overview According to the Association of Business Process Management Professionals (ABPMP), business process modeling is one of the five key disciplines within business process management, Business Process Management (BPM).Association of Business Process Management Professionals ABPMP (publisher): ''Guide to the Business Process Management common body of knowledge - BPM CBOK®'' in the translated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Change Control
Within quality management systems (QMS) and information technology (IT) systems, change control is a process—either formal or informal—used to ensure that changes to a product or system are introduced in a controlled and coordinated manner. It reduces the possibility that unnecessary changes will be introduced to a system without forethought, introducing faults into the system or undoing changes made by other users of software. The goals of a change control procedure usually include minimal disruption to services, reduction in back-out activities, and cost-effective utilization of resources involved in implementing change. According to the Project Management Institute, change control is a "process whereby modifications to documents, deliverables, or baselines associated with the project are identified, documented, approved, or rejected." Change control is used in various industries, including in IT, software development, the pharmaceutical industry, the medical device industr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Case Study
A case study is an in-depth, detailed examination of a particular case (or cases) within a real-world context. For example, case studies in medicine may focus on an individual patient or ailment; case studies in business might cover a particular firm's strategy or a broader market; similarly, case studies in politics can range from a narrow happening over time like the operations of a specific political campaign, to an enormous undertaking like world war, or more often the policy analysis of real-world problems affecting multiple stakeholders. Generally, a case study can highlight nearly any individual, group, organization, event, belief system, or action. A case study does not necessarily have to be one observation ( N=1), but may include many observations (one or multiple individuals and entities across multiple time periods, all within the same case study). Research projects involving numerous cases are frequently called cross-case research, whereas a study of a single case is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process
A business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Model
A business model describes how a Company, business organization creates, delivers, and captures value creation, value,''Business Model Generation'', Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, cultural or other contexts. The model describes the specific way in which the business conducts itself, spends, and earns money in a way that generates Profit (economics), profit. The process of business model construction and modification is also called ''business model innovation'' and forms a part of business strategy. In theory and practice, the term ''business model'' is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including Mission statement, purpose, business process, target market, target customers, offerings, strategies, infrastructure, organizational structures, profit structures, sourcing, trading practices, and operational ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Intelligence
Business intelligence (BI) consists of strategies, methodologies, and technologies used by enterprises for data analysis and management of business information. Common functions of BI technologies include Financial reporting, reporting, online analytical processing, analytics, Dashboard (business), dashboard development, data mining, process mining, complex event processing, business performance management, benchmarking, text mining, Predictive Analysis, predictive analytics, and prescriptive analytics. BI tools can handle large amounts of structured and sometimes unstructured data to help organizations identify, develop, and otherwise create new strategic business opportunities. They aim to allow for the easy interpretation of these big data. Identifying new opportunities and implementing an effective strategy based on insights is assumed to potentially provide businesses with a competitive market advantage and long-term stability, and help them take strategic decisions. Busine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benchmarking
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are Project management triangle, quality, time and cost. Benchmarking is used to measure performance using a specific Performance indicator, indicator (cost per unit of measure, productivity per unit of measure, cycle time of x per unit of measure or defects per unit of measure) resulting in a metric of performance that is then compared to others. Also referred to as "best practice benchmarking" or "process benchmarking", this process is used in management in which organizations evaluate various aspects of their processes in relation to best-practice companies' processes, usually within a peer group defined for the purposes of comparison. This then allows organizations to develop plans on how to make improvements or adapt specific best practices, usually with the aim of increasing some aspect of performance. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Scorecard
A balanced scorecard is a strategy performance management tool – a well-structured report used to keep track of the execution of activities by staff and to monitor the consequences arising from these actions. The term 'balanced scorecard' primarily refers to a performance management report used by a management team, and typically focused on managing the implementation of a strategy or operational activities. In a 2020 survey 88% of respondents reported using the balanced scorecard for strategy implementation management, and 63% for operational management. Although less common, the balanced scorecard is also used by individuals to track personal performance; only 17% of respondents in the survey reported using balanced scorecards in this way. However it is clear from the same survey that a larger proportion (about 30%) use corporate balanced scorecard elements to inform personal goal setting and incentive calculations. The critical characteristics that define a balanced scoreca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Viable Systems Model
The viable system model (VSM) is a model of the organizational structure of any autonomous system capable of producing itself. It is an implementation of viable system theory. At the biological level, this model is correspondent to autopoiesis. A viable system is any system organised in such a way as to meet the demands of surviving in the changing environment. One of the prime features of systems that survive is that they are adaptable. The VSM expresses a model for a viable system, which is an abstracted cybernetic (regulation theory) description that is claimed to be applicable to any organisation that is a viable system and capable of autonomy. Overview The model was developed by operations research theorist and cybernetician Stafford Beer in his book ''Brain of the Firm'' (1972). Together with Beer's earlier works on cybernetics applied to management, this book effectively founded management cybernetics. The first thing to note about the cybernetic theory of organizations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Six Sigma
Six Sigma (6σ) is a set of techniques and tools for process improvement. It was introduced by American engineer Bill Smith while working at Motorola in 1986. Six Sigma strategies seek to improve manufacturing quality by identifying and removing the causes of defects and minimizing variability in manufacturing and business processes. This is done by using empirical and statistical quality management methods and by hiring people who serve as Six Sigma experts. Each Six Sigma project follows a defined methodology and has specific value targets, such as reducing pollution or increasing customer satisfaction. The term ''Six Sigma'' originates from statistical quality control, a reference to the fraction of a normal curve that lies within six standard deviations of the mean, used to represent a defect rate. History Motorola pioneered Six Sigma, setting a "six sigma" goal for its manufacturing business. It registered Six Sigma as a service mark on June 11, 1991 (); on December 28, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management By Objectives
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book ''The Practice of Management''.Drucker, P., ''The Practice of Management'', Harper, New York, 1954; Heinemann, London, 1955; revised edn, Butterworth-Heinemann, 2007 Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence. This process allows managers to take work that needs to be done one step at a time to allow for a calm, yet productive work environment. In this system of management, individual goals are synchronized with the goals of the organization. An important part of MBO is the measurement and comparison of an employee's actual performance with the standards set. Ideally, when employees themselves have been involved with the goal-setting and choosing the course of action to be followed by them, they ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
