Tag: Process

What is business process outsourcing (BPO)? Definition from #harvard #business #publishing

#business process outsourcing

#

business process outsourcing (BPO)

Business process outsourcing (BPO) is the contracting of a specific business task. such as payroll, human resources (HR) or accounting, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain their position in the marketplace.

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BPO services

Two categories BPO is often divided into are back office outsourcing. which includes internal business functions such as billing or purchasing, and front office outsourcing, which includes customer-related services such as marketing or tech support.

Back office outsourcing offers organizations services to help manage tasks like data entry. data management. surveys, payment processing, quality assurance and accounting support. Back office tasks are integral to a company’s core business process and help keep business running smoothly.

Front office outsourcing services deal with customer interactions. Examples of front office tasks include phone conversations, email. fax and other forms of communication with customers. Front office outsourcing providers’ service lists include:

Outsourcing options

BPO that is contracted outside a company’s own country is sometimes called offshore outsourcing. BPO that is contracted to a company’s neighboring country is sometimes called nearshore outsourcing. and BPO that is contracted with the company’s own county is sometimes called onshore outsourcing .

Pros and cons of BPO

The top advantages of BPO are saved money and increased time to focus on the core business. Some other benefits include:

  • Speed and efficiencies of outsourced business processes are enhanced
  • Organizations using BPO get access to the latest technology
  • Freedom and flexibility to choose the most relevant services for the company’s operations
  • Quick and accurate reporting
  • Save on resources related to staffing and training

Some disadvantages of outsourcing business processes include:

This was last updated in May 2016

Continue Reading About business process outsourcing (BPO)

Related Terms

data collection Data collection is a process for gathering information from different sources. In business, data collection helps organizations. See complete definition e-procurement (supplier exchange) E-procurement is the business-to-business purchase and sale of supplies and services over the Internet. See complete definition workflow Workflow is the series of activities that are necessary to complete a task. See complete definition

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Business Process Modeling Tools (BPMN) #simple #business #plan

#business process modeling

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Business Process Modeling Tools (BPMN)

Visualize business workflows. Communicate business process ideas
with BPMN business process diagrams.

BPMN Business Process Diagram

Knowing how the business operates is the first and the most critical step of business process improvement. Business Process Model and Notation (BPMN), provides a graphical representation of business workflows that anyone, from business analyst to stakeholder, can easily understand; aiding in business process analysis and business process improvements.

Document working procedure for task/sub process

Write step-by-step working procedures to each of the business activity in business process diagram.

Drill-down sub process

Business process modeling with abstraction by maintaining multiple process diagram layers. Easily drill down a sub process right on the spot.

Collapsible sub process shape

Easily collapse sub process to hide the details, expand it to view the internal workflow in thumbnail.

Shared states among data object shapes

Model the change of data object state by maintaining a unique set of states per data object.

Automatic sequence and message flow correction

Automatically convert sequence flow to message flow, or the other way round when a wrong type of flow is used.

BPMN conversation diagram

Conversation diagrams visualize messages exchange between pools.

Generate to-be process diagram from as-is diagram

Generate to-be business process model from the as-is process model, and keep the two models connected.

Select all shapes in a direction

Use the Handi-Selection tool to select a range of shapes. For example, select all shapes on right hand side of mouse cursor position.

Select all shapes in same type

Improve business process modeling efficiency by selecting all workflow elements in same type.

Identify workflow elements from textual analysis

Discover pools, lanes and tasks of process from text document, with the help of textual analysis.

Process statistic

Show the number of message flows, total process costs and total processing of hours of a business process.

Export BPMN 2.0

Export BPMN business process diagrams to standard BPMN 2.0 XML format.

Import BPMN 2.0

Form business process diagrams from BPMN 2.0 XML by importing it into Visual Paradigm.





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Business Process Modeling tools for the Business Process Modeling Notation (BPMN) – Enterprise Architect BPMN software #ideas #to #start #a #business

#business process modeling

#

Tools for Business Process Modeling using the BPMN

Business Process Modeling is an important part of understanding and restructuring the activities and information a typical enterprise uses to achieve its business goals. With a modeling tool like Enterprise Architect. you can model, document and restructure those processes and information flows using industry standard UML and the Business Process Modeling Notation (BPMN). Best of all, the process designs and models can be used to drive process re-structuring and software development .

With EA you can:

  • Model business processes with industry standard UML
  • Easily take advantage of the Business Process Modeling Notation (BPMN)
  • Model processes. information flows and data stores
  • Manage requirements at a very detailed level
  • Take advantage of UML Profiles for business process modeling
  • Reverse engineer legacy code and database models
  • Produce great looking reports in standard RTF and HTML format
  • Connect your business process model to use case and software design models for end to end traceability

MDG Technology brings BPMN support to Enterprise Architect
The BPMN Add-in for Enterprise Architect provides a full-featured implementation of the Business Process Modeling Notation (BPMN). This allows business processes to be expressed in a standard graphical notation.

Business Process Modeling is the discipline of defining and outlining business practices, processes, information flows, data stores and systems. BPM often involves using a notation such as UML to capture graphical representations of the major processes, flows and stores.

UML provides activity. state. object and class diagrams to capture important business processes and artifacts. More detailed BPM models can easily be built using UML Profiles. Sparx Systems has available for download a detailed UML Profile for Business Process Modeling based on the extensions defined by Hans-Erik Eriksson and Magnus Penker in their book, Business Modeling with UML . This profile is used to define a set of stereotypes for working with Business Activities, Processes, Objects and Information flows.

BPM differs from software system modeling in a number of important ways. The key difference between system modeling in UML and Business Process Modeling is that the emphasis on how the work is done within an organization, rather than what work is done. It is an important tool in understanding the activities a business undertakes, and the kind of information it needs to successfully engage in those activities. Enterprise Architect can help you identify and document processes within a business, and identify which business processes can be managed more effectively. Also, they serve the important function of situating new and existing software systems within the business context.

Enterprise Architect is ideally suited to capturing and documenting your business process models. Best of all, the models you create in EA can then be used to drive the requirements, use cases, analysis and design phases of new software development projects, all with complete traceability back to your original BPM.





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BPMN Specification – Business Process Model and Notation #selling #a #business

#business process

#

Object Management Group
Business Process Model and Notation

Charter

A standard Business Process Model and Notation (BPMN) will provide businesses with the capability of understanding their internal business procedures in a graphical notation and will give organizations the ability to communicate these procedures in a standard manner. Furthermore, the graphical notation will facilitate the understanding of the performance collaborations and business transactions between the organizations. This will ensure that businesses will understand themselves and participants in their business and will enable organizations to adjust to new internal and B2B business circumstances quickly.

Current BPMN Specification

BPM Certification

The OCEB program consists of five examinations, granting five Certifications. Above the single Fundamental level, the program splits into two tracks – one Business-oriented. the other Technically oriented.

Credentials are important in the BPM world, where practitioners may work on many projects for different clients or employers over time. The twenty-five experts from top BPM companies and well-known independent consultants who designed the OCEB topical coverage and wrote the exam questions want peers and prospective employers to feel confident about a certified candidate’s ability to participate in or lead real-world initiatives in enterprise BPM. Your status as an OCEB Certified Professional shows current and future employers or clients that you have the required knowledge and skills, making you a more attractive candidate for hiring and promotion.

Frequently Asked Questions (FAQ)

The Business Process Modeling Notation (BPMN) is a graphical notation that depicts the steps in a business process. BPMN depicts the end to end flow of a business process. The notation has been specifically designed to coordinate the sequence of processes and the messages that flow between different process participants in a related set of activities.

Why is BPMN important?

The world of business processes has changed dramatically over the past few years. Processes can be coordinated from behind, within and over organizations natural boundaries. A business process now spans multiple participants and coordination can be complex. Until BPMN, there has not been a standard modelling technique developed that addresses these issues. BPMN has been developed to provide users with a royalty free notation. This will benefit users in a similar manner in which UML standardised the world of software engineering. There will be training courses, books and a body of knowledge that users can access in order to better implement a business process.

Who is BPMN targeted at?

BPMN is targeted at a high level for business users and at a lower level for process implementers. The business users should be able to easily read and understand a BPMN business process diagram. The process implementer should be able to adorn a business process diagram with further detail in order to represent the process in a physical implementation. BPMN is targeted at users, vendors and service providers that need to communicate business processes in a standard manner.

What does this mean for UML users?

The unified modelling language (UML) takes an object-oriented approach to the modeling of applications, while BPMN takes a process-oriented approach to modelling of systems. Where BPMN has a focus on business processes, the UML has a focus on software design and therefore the two are not competing notations but are different views on systems. The BPMN and the UML are compatible with each other. A business process model does not necessarily have to be implemented as an automated business process in a process execution language. Where this is the case, business processes and participants can be mapped to constructs such as use cases and behavioural models in the UML. Further white papers will follow on the mapping between these techniques.

Will there be a major rewrite?

Not for 2 or 3 years.

What is the relationship between BPMN and BPEL?

BPEL is an XML-based language for describing a business process in which most of the tasks represent interactions between the process and external Web services. The BPEL process itself is represented as a Web service, and is realized by a BPEL engine which executes the process description. BPMN is a standard set of diagramming conventions for describing business processes. It is designed to visualize a rich set of process flow semantics within a process and the communication between independent processes. It is intended to support capture of sufficient detail to allow it to be the source of an executable process description. Since BPEL is currently considered the most important standard for execution languages, a translation to BPEL is specified in the BPMN standard. By design there are some limitations on the process topologies that can be described in BPEL, so it is possible to represent processes in BPMN that cannot be mapped to BPEL. There are a few concepts, such as Ad-Hoc sub-proceses, that BPMN can represent that may not be implemented with any technology.

Click here to get your own BPMN Quick Guide.





Tags : , , , , , , ,

Business Process Modeling tools for the Business Process Modeling Notation (BPMN) – Enterprise Architect BPMN software #music #business #degree

#business process modeling

#

Tools for Business Process Modeling using the BPMN

Business Process Modeling is an important part of understanding and restructuring the activities and information a typical enterprise uses to achieve its business goals. With a modeling tool like Enterprise Architect. you can model, document and restructure those processes and information flows using industry standard UML and the Business Process Modeling Notation (BPMN). Best of all, the process designs and models can be used to drive process re-structuring and software development .

With EA you can:

  • Model business processes with industry standard UML
  • Easily take advantage of the Business Process Modeling Notation (BPMN)
  • Model processes. information flows and data stores
  • Manage requirements at a very detailed level
  • Take advantage of UML Profiles for business process modeling
  • Reverse engineer legacy code and database models
  • Produce great looking reports in standard RTF and HTML format
  • Connect your business process model to use case and software design models for end to end traceability

MDG Technology brings BPMN support to Enterprise Architect
The BPMN Add-in for Enterprise Architect provides a full-featured implementation of the Business Process Modeling Notation (BPMN). This allows business processes to be expressed in a standard graphical notation.

Business Process Modeling is the discipline of defining and outlining business practices, processes, information flows, data stores and systems. BPM often involves using a notation such as UML to capture graphical representations of the major processes, flows and stores.

UML provides activity. state. object and class diagrams to capture important business processes and artifacts. More detailed BPM models can easily be built using UML Profiles. Sparx Systems has available for download a detailed UML Profile for Business Process Modeling based on the extensions defined by Hans-Erik Eriksson and Magnus Penker in their book, Business Modeling with UML . This profile is used to define a set of stereotypes for working with Business Activities, Processes, Objects and Information flows.

BPM differs from software system modeling in a number of important ways. The key difference between system modeling in UML and Business Process Modeling is that the emphasis on how the work is done within an organization, rather than what work is done. It is an important tool in understanding the activities a business undertakes, and the kind of information it needs to successfully engage in those activities. Enterprise Architect can help you identify and document processes within a business, and identify which business processes can be managed more effectively. Also, they serve the important function of situating new and existing software systems within the business context.

Enterprise Architect is ideally suited to capturing and documenting your business process models. Best of all, the models you create in EA can then be used to drive the requirements, use cases, analysis and design phases of new software development projects, all with complete traceability back to your original BPM.





Tags : , , , , , , , , , , ,

What is business process? Definition from #business #loan #interest #rates

#business process

#

business process

A business process is an activity or set of activities that will accomplish a specific organizational goal. Business process management (BPM) is a systematic approach to improving those processes. If an organization is unable to perform certain business processes internally due to cost or resources, the company might utilize business process outsourcing (BPO). Many organizations contract specific business tasks, such as payroll, human resources (HR) or accounting, to a third-party service provider.

Download this free guide

Download 9 FREE Strategic Planning Templates that your Peers Already Use

Having a clear-cut IT strategy is key establishing a competitive advantage over any competition. It can be the difference maker between a business’ success and its failure. Reach your business goals and stay organized by downloading this FREE e-guide which includes 9 templates already in use by major organizations such as NASA and Brown University.

By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.

You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .

To measure success of a business process, organizations track successful completion of different steps within the process, i.e. benchmarks. or reaching the end point of the process. When a business process is not helping an organization reach a goal within timeline or with the resources at hand, there are a number of strategies to execute for improvements. Business process mapping is often undertaken as an exercise during business process re-engineering and process transformation to improve a maybe unsuccessful business process. Organizations might also focus on business process visibility to identify issues in process performance or execution.

Business processes categories

Depending on the organization, industry and nature of work, business processes are often broken up into different categories. Categories include:

  • Operational processes (or primary processes): Operational or primary processes deal with the core business and value chain. These processes deliver value to the customer by helping to produce a product or service. Operational processes represent essential business activities that accomplish business objectives, e.g. generating revenue. Some examples of this include taking customer orders and managing bank accounts.
  • Supporting processes (or secondary processes): Supporting processes back core processes and functions within an organization. Examples of supporting or management processes include accounting, HR management and workplace safety. One key differentiator between operational and support processes is that support processes do not provide value to customers directly.
  • Management processes: Management processes measure, monitor and control activities related to business procedures and systems. Examples of management processes include internal communications, governance. strategic planning. budgeting, and infrastructure or capacity management. Like supporting processes, management processes do not provide value directly to the customers.

Business process mapping or modeling

Business processes are often depicted visually with a flowchart showing a sequence of tasks with certain benchmarks or decision points. Business process mapping or modeling illustrates pictorially, through graphs and charts, how certain processes flow into others.

There a few different ways to think about business process mapping and workflow :

  • Sequential business process. Sequential business processes are outlined on a document with clear start and end points. When following this process map, an organization performs the series of actions in order to complete the task within the constraints of a predetermined timeline.
  • Status-driven business process. A status-driven business process doesn’t have strict start and end points. These processes can finish at any stage depending on workflow changes, nature or production or the office culture. Also, it is typical for status-driven processes to recur or cycle on the same step in the process.
  • Parallel business process. When activities in a business process are executed in parallel, they are carried out simultaneously. In this type of business process execution, the activities on all branches must be completed before the next step in the business process can commence.

This was last updated in June 2016

Continue Reading About business process

Related Terms

CEO and other C-suite executive titles The CEO, or chief executive officer, is part of the C-suite. Other C-suite executive titles include the chief financial officer. See complete definition innovation management Innovation management is the process of managing an organization’s innovation procedure, which helps increase competitive. See complete definition product development (new product development, or NPD) Product development, or new product development (NPD), is the process of bringing new or updated products or services to a target. See complete definition

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BPMN Specification – Business Process Model and Notation #business #ideas #for #kids

#business process

#

Object Management Group
Business Process Model and Notation

Charter

A standard Business Process Model and Notation (BPMN) will provide businesses with the capability of understanding their internal business procedures in a graphical notation and will give organizations the ability to communicate these procedures in a standard manner. Furthermore, the graphical notation will facilitate the understanding of the performance collaborations and business transactions between the organizations. This will ensure that businesses will understand themselves and participants in their business and will enable organizations to adjust to new internal and B2B business circumstances quickly.

Current BPMN Specification

BPM Certification

The OCEB program consists of five examinations, granting five Certifications. Above the single Fundamental level, the program splits into two tracks – one Business-oriented. the other Technically oriented.

Credentials are important in the BPM world, where practitioners may work on many projects for different clients or employers over time. The twenty-five experts from top BPM companies and well-known independent consultants who designed the OCEB topical coverage and wrote the exam questions want peers and prospective employers to feel confident about a certified candidate’s ability to participate in or lead real-world initiatives in enterprise BPM. Your status as an OCEB Certified Professional shows current and future employers or clients that you have the required knowledge and skills, making you a more attractive candidate for hiring and promotion.

Frequently Asked Questions (FAQ)

The Business Process Modeling Notation (BPMN) is a graphical notation that depicts the steps in a business process. BPMN depicts the end to end flow of a business process. The notation has been specifically designed to coordinate the sequence of processes and the messages that flow between different process participants in a related set of activities.

Why is BPMN important?

The world of business processes has changed dramatically over the past few years. Processes can be coordinated from behind, within and over organizations natural boundaries. A business process now spans multiple participants and coordination can be complex. Until BPMN, there has not been a standard modelling technique developed that addresses these issues. BPMN has been developed to provide users with a royalty free notation. This will benefit users in a similar manner in which UML standardised the world of software engineering. There will be training courses, books and a body of knowledge that users can access in order to better implement a business process.

Who is BPMN targeted at?

BPMN is targeted at a high level for business users and at a lower level for process implementers. The business users should be able to easily read and understand a BPMN business process diagram. The process implementer should be able to adorn a business process diagram with further detail in order to represent the process in a physical implementation. BPMN is targeted at users, vendors and service providers that need to communicate business processes in a standard manner.

What does this mean for UML users?

The unified modelling language (UML) takes an object-oriented approach to the modeling of applications, while BPMN takes a process-oriented approach to modelling of systems. Where BPMN has a focus on business processes, the UML has a focus on software design and therefore the two are not competing notations but are different views on systems. The BPMN and the UML are compatible with each other. A business process model does not necessarily have to be implemented as an automated business process in a process execution language. Where this is the case, business processes and participants can be mapped to constructs such as use cases and behavioural models in the UML. Further white papers will follow on the mapping between these techniques.

Will there be a major rewrite?

Not for 2 or 3 years.

What is the relationship between BPMN and BPEL?

BPEL is an XML-based language for describing a business process in which most of the tasks represent interactions between the process and external Web services. The BPEL process itself is represented as a Web service, and is realized by a BPEL engine which executes the process description. BPMN is a standard set of diagramming conventions for describing business processes. It is designed to visualize a rich set of process flow semantics within a process and the communication between independent processes. It is intended to support capture of sufficient detail to allow it to be the source of an executable process description. Since BPEL is currently considered the most important standard for execution languages, a translation to BPEL is specified in the BPMN standard. By design there are some limitations on the process topologies that can be described in BPEL, so it is possible to represent processes in BPMN that cannot be mapped to BPEL. There are a few concepts, such as Ad-Hoc sub-proceses, that BPMN can represent that may not be implemented with any technology.

Click here to get your own BPMN Quick Guide.





Tags : , , , , , , ,

BPO – Business Process Outsourcing – Gartner IT #business #opportunities

#business process outsourcing

#

Business process outsourcing (BPO) is the delegation of one or more IT-intensive business processes to an external provider that, in turn, owns, administrates and manages the selected processes based on defined and measurable performance metrics. BPO offerings are categorized in two major categories: horizontal offerings (those that can be leveraged across specific industries) and vertical-specific offerings (those that demand specific industry vertical process knowledge).

The global market for service delivery continues to be a fundamental component of sourcing strategies. Sourcing executives can use this research to analyze country suitability for outsourcing, shared services or captive delivery centers for business and IT services.

The drive toward the digitalization of education spotlights certain key foundational components to achieve it. New technologies, as well as new ways of looking at existing technologies, create challenges and opportunities for education CIOs to advance the transformation of education.

How will senior executives get status updates on how your enterprise is progressing toward becoming a digital business? Key performance indicators that establish goals and assess progress are an important element of any digital business transformation. This presentation provides guidelines and examples to help CIOs and CDOs choose the right KPIs.

Business transformation and growth initiatives are top priorities for CEOs. Regardless of whether those transformation efforts execute on a digital business, customer experience, or other business strategies, transformation means changing business processes. Enterprises no longer have the luxury of taking a long time to re-engineer business processes. Cloud lowers the barrier to entry for new competitors, but it also accelerates time to transformation.

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What is business process modeling? Definition from #bond #market #news

#business process modeling

#

business process modeling

Business process modeling, often called process modeling, is the analytical representation or illustration of an organization s business processes.

Along with business process discovery. process modeling is widely viewed as a critical component in successful business process management (BPM ). It is used to map out an organization s current (or as-is ) processes to create a baseline for process improvements and to design future (or to-be ) processes with those improvements incorporated. Process modeling often uses Business Process Modeling Notation (BPMN ), a standard method of illustrating processes with flowchart -like diagrams that can be easily understood by both IT and business managers.

Continue reading about business process modeling:

This was last updated in February 2012

Contributor(s): Anne Stuart

Related Terms

Definitions

– Risk management is a company’s process for identifying and controlling threats to its assets, including proprietary corporate data, customers’ PII and intellectual property. (SearchCompliance.com )

– Rebranding is an update of the materials and presentation used to represent a business. A company may rebrand to appear more modern or to distance itself from past issues, among other possibilities. (WhatIs.com )

– A/B testing is a statistical method used to assess proposed changes to a product or service. (SearchBusinessAnalytics.com )

Glossaries

– Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

– This WhatIs.com glossary contains terms related to Internet applications, including definitions about Software as a Service (SaaS) delivery models and words and phrases about web sites, e-commerce.

Dig Deeper





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What is business process? Definition from #free #business #checking

#business process

#

business process

A business process is an activity or set of activities that will accomplish a specific organizational goal. Business process management (BPM) is a systematic approach to improving those processes. If an organization is unable to perform certain business processes internally due to cost or resources, the company might utilize business process outsourcing (BPO). Many organizations contract specific business tasks, such as payroll, human resources (HR) or accounting, to a third-party service provider.

Download this free guide

Download 9 FREE Strategic Planning Templates that your Peers Already Use

Having a clear-cut IT strategy is key establishing a competitive advantage over any competition. It can be the difference maker between a business’ success and its failure. Reach your business goals and stay organized by downloading this FREE e-guide which includes 9 templates already in use by major organizations such as NASA and Brown University.

By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.

You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .

To measure success of a business process, organizations track successful completion of different steps within the process, i.e. benchmarks. or reaching the end point of the process. When a business process is not helping an organization reach a goal within timeline or with the resources at hand, there are a number of strategies to execute for improvements. Business process mapping is often undertaken as an exercise during business process re-engineering and process transformation to improve a maybe unsuccessful business process. Organizations might also focus on business process visibility to identify issues in process performance or execution.

Business processes categories

Depending on the organization, industry and nature of work, business processes are often broken up into different categories. Categories include:

  • Operational processes (or primary processes): Operational or primary processes deal with the core business and value chain. These processes deliver value to the customer by helping to produce a product or service. Operational processes represent essential business activities that accomplish business objectives, e.g. generating revenue. Some examples of this include taking customer orders and managing bank accounts.
  • Supporting processes (or secondary processes): Supporting processes back core processes and functions within an organization. Examples of supporting or management processes include accounting, HR management and workplace safety. One key differentiator between operational and support processes is that support processes do not provide value to customers directly.
  • Management processes: Management processes measure, monitor and control activities related to business procedures and systems. Examples of management processes include internal communications, governance. strategic planning. budgeting, and infrastructure or capacity management. Like supporting processes, management processes do not provide value directly to the customers.

Business process mapping or modeling

Business processes are often depicted visually with a flowchart showing a sequence of tasks with certain benchmarks or decision points. Business process mapping or modeling illustrates pictorially, through graphs and charts, how certain processes flow into others.

There a few different ways to think about business process mapping and workflow :

  • Sequential business process. Sequential business processes are outlined on a document with clear start and end points. When following this process map, an organization performs the series of actions in order to complete the task within the constraints of a predetermined timeline.
  • Status-driven business process. A status-driven business process doesn’t have strict start and end points. These processes can finish at any stage depending on workflow changes, nature or production or the office culture. Also, it is typical for status-driven processes to recur or cycle on the same step in the process.
  • Parallel business process. When activities in a business process are executed in parallel, they are carried out simultaneously. In this type of business process execution, the activities on all branches must be completed before the next step in the business process can commence.

This was last updated in June 2016

Continue Reading About business process

Related Terms

CEO and other C-suite executive titles The CEO, or chief executive officer, is part of the C-suite. Other C-suite executive titles include the chief financial officer. See complete definition innovation management Innovation management is the process of managing an organization’s innovation procedure, which helps increase competitive. See complete definition product development (new product development, or NPD) Product development, or new product development (NPD), is the process of bringing new or updated products or services to a target. See complete definition

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