5. Transformation of the finance function Flashcards Preview

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Flashcards in 5. Transformation of the finance function Deck (10)
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1

Driving forces for change

Management structure
Technology
Competition

2

Outsourcing

subcontracting to external providers

3

Non core competences

can be outsourced
cleaning
printing
catering
legal
property maintenance

4

Core competences

not to be outsourced

5

Complementary competences

can be outsourced but as complex must only be given to a trusted outsourcer

6

Internal outsourcing to shared service centres

economies of scale
single best practice from all operations
Improved control and delivery

7

Offshoring

relocation of parts of an organisation's activities to another country

8

Near-shoring

moving activities to neighbouring countries

9

Business process reengineering

fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in measures of performance such as cost, quality, service and speed (Hammer and Champy 2001)

10

Stages of BPR

Process identification
Process rationalisation
Process redesign
Process reassembly