Chapter 2 Flashcards
(5 cards)
1
Q
Business Process
A
An ongoing collection of related activities that create a product or service of value to the organization, its business partners, and/or its customers
2
Q
Competitive Advantage
A
An advantage over competitors in some measure such as cost, quality or speed; leads to control of a market and to larger-than-average profits
3
Q
Cross-Functional Processes
A
No single functional area is responsible for a process’s execution
4
Q
Procurement Process
A
All of the tasked involved in acquiring needed materials externally from a vendor
5
Q
Fulfillment Process
A
Processing customer orders
