Lesson 2 Flashcards
1
Q
Business Process
A
series of activities, tasks, or steps designed to produce a product or service. A business process is best thought of as a system.
2
Q
Components of Business Process
A
- Activities
- Resources
- Facilities
- Information
3
Q
What is information?
A
information is knowledge derived from data, data is recorded facts or figures
information is data presented in a meaningful context
4
Q
Characteristics of Good Information
A
- Accurate
- Timely
- Relevant
- Just barely sufficient
- Worth its cost
5
Q
Levels of Decisions
A
Operational - D2D activities
Managerial - allocation of resources
Strategic - broader org
