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The Workflow Management Coalition, [6] BPM.com [7] and several other sources [8] use the following definition: Business process management (BPM) is a discipline involving any combination of modeling, automation, execution, control, measurement and optimization of business activity flows, in support of enterprise goals, spanning systems, employees, customers and partners within and beyond the ...
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 ...
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions , agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
The term business operating system (BOS) refers to standard, enterprise-wide collection of business processes used in many diversified industrial companies. The definition has also been extended to include the common structure, principles and practices necessary to drive the organization. [1]
A value chain is a progression of activities that a business or firm performs in order to deliver goods and services of value to an end customer.The concept comes from the field of business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance.
In the social sciences an open system is a process that exchanges material, energy, people, capital and information with its environment. French/Greek philosopher Kostas Axelos argued that seeing the "world system" as inherently open (though unified) would solve many of the problems in the social sciences, including that of praxis (the relation of knowledge to practice), so that various social ...
For example, a company may define that the core ERP solution should cover those business processes that must stay behind the firewall, and therefore, choose to leave their core ERP on-premises. At the same time, another company may decide to host the core ERP solution in the cloud and move only a few ERP modules as supplementary solutions to on ...
Leland and Pyle (1977) analyzed the role of signals within the process of an IPO, finding that companies with good future perspectives and higher possibilities of success ("good companies") should always send clear signals to the market when going public, i.e. the owner should keep control of a significant percentage of the company.