INMT 341 Exam 1 UTK
For-profit organizations - answer formed to make money, or profits, by offering products
or services
not-for-profit organizations - answer organizations that strive to provide particular
services to constituents (e.g., governments, educational, or charitable organizations.) In
contrast to For Profit organizations, Not for Profit 'owners,' shareholders or trustees are
not intended to benefit financially from the organization.
Main questions of business processes - answer Who, what, when, where, and why?
The "what" of business - answer Buy, Make, or Sell
Business Process - answer A collection of related activities that combine different
resources and inputs to create an output that is of value to the organization, its
stakeholders and/or its customers. These outputs may be products or services.
Event - answer denotes a single step or activity within a business process.
Business Events - answer the operating activities performed within a business process
to provide goods and services to customers
economic events - answerincrease or decrease the physical quantity (balance) of a
firm's economic resources.
Procure to Pay Business Process - answerIncludes the activities involved in acquiring,
paying for, and maintaining the goods and services needed by an organization
Order to Cash Business Process - answerincludes the sequence of activities that
collectively serve to attract and retain customers, help customers select goods and
services, deliver the goods and services requested, and collect payments for the goods
and services
Conversion Business Process - answerInvolves the activities necessary to convert raw
inputs into finished products or services
Internal Processes are... - answerLinked. Business processes are linked together in
various ways, in icluding the sharing of common resources or when an event in one
process triggers an event in another process.
Process extend beyond... - answerA single organization.
, Value Chain - answerthe set of (primary and support) activities through which a product
or service is created and delivered to customers.
primary activities - answerthe events that create customer value and provide
organization distinctiveness in the marketplace.
Support activities - answerEvents that facilitate accomplishing the primary activities.
profit margin - answerthe difference between total value and the cost of performing the
activities
Linkages - answerthe flows of information, goods and services, as well as systems and
processes for adjusting activities
Extended Enterprise Business Processes - answerprocesses that are not only linked
within an organization but business processes span organization boundaries
REAL Business Process Modeling Template - answerHelps identify and represent the
essential characteristics that collectively describe business processes and events
Step 1 of REAL - answerTo understand an organization's context, focus on
understanding its strategy, culture, and structure
Step 2 of REAL - answerExamine the process from a single perspective and identify the
strategically significant business events (rather than from the perspective of multiple
parties)
event trigger - answerthe action that initiates or authorizes an event
Step 3 of REAL - answerAnalyze each event identified in step 2 to identify the
resources, agents, and locations that are key to the event
Step 4 of REAL - answerIdentify the relevant business rules (Behaviors, Characteristics,
and Attributes of the events, resources, agents and locations) to determine the business
risks
Business Events Risks - answerresult in errors and irregularities having one or more of
the following characteristics: • A business event occurring at the wrong time or
sequence, • A business event occurring without proper authorization, • A business event
involving the wrong internal agent or poor actions by the internal agent, • A business
event involving the wrong external agent, • A business event involving the wrong
resource, • A business event involving the wrong amount of resource, and/or • A
business event occurring at the wrong location
Step 5 of REAL - answerValidate your analysis with Business process owners and
participants
For-profit organizations - answer formed to make money, or profits, by offering products
or services
not-for-profit organizations - answer organizations that strive to provide particular
services to constituents (e.g., governments, educational, or charitable organizations.) In
contrast to For Profit organizations, Not for Profit 'owners,' shareholders or trustees are
not intended to benefit financially from the organization.
Main questions of business processes - answer Who, what, when, where, and why?
The "what" of business - answer Buy, Make, or Sell
Business Process - answer A collection of related activities that combine different
resources and inputs to create an output that is of value to the organization, its
stakeholders and/or its customers. These outputs may be products or services.
Event - answer denotes a single step or activity within a business process.
Business Events - answer the operating activities performed within a business process
to provide goods and services to customers
economic events - answerincrease or decrease the physical quantity (balance) of a
firm's economic resources.
Procure to Pay Business Process - answerIncludes the activities involved in acquiring,
paying for, and maintaining the goods and services needed by an organization
Order to Cash Business Process - answerincludes the sequence of activities that
collectively serve to attract and retain customers, help customers select goods and
services, deliver the goods and services requested, and collect payments for the goods
and services
Conversion Business Process - answerInvolves the activities necessary to convert raw
inputs into finished products or services
Internal Processes are... - answerLinked. Business processes are linked together in
various ways, in icluding the sharing of common resources or when an event in one
process triggers an event in another process.
Process extend beyond... - answerA single organization.
, Value Chain - answerthe set of (primary and support) activities through which a product
or service is created and delivered to customers.
primary activities - answerthe events that create customer value and provide
organization distinctiveness in the marketplace.
Support activities - answerEvents that facilitate accomplishing the primary activities.
profit margin - answerthe difference between total value and the cost of performing the
activities
Linkages - answerthe flows of information, goods and services, as well as systems and
processes for adjusting activities
Extended Enterprise Business Processes - answerprocesses that are not only linked
within an organization but business processes span organization boundaries
REAL Business Process Modeling Template - answerHelps identify and represent the
essential characteristics that collectively describe business processes and events
Step 1 of REAL - answerTo understand an organization's context, focus on
understanding its strategy, culture, and structure
Step 2 of REAL - answerExamine the process from a single perspective and identify the
strategically significant business events (rather than from the perspective of multiple
parties)
event trigger - answerthe action that initiates or authorizes an event
Step 3 of REAL - answerAnalyze each event identified in step 2 to identify the
resources, agents, and locations that are key to the event
Step 4 of REAL - answerIdentify the relevant business rules (Behaviors, Characteristics,
and Attributes of the events, resources, agents and locations) to determine the business
risks
Business Events Risks - answerresult in errors and irregularities having one or more of
the following characteristics: • A business event occurring at the wrong time or
sequence, • A business event occurring without proper authorization, • A business event
involving the wrong internal agent or poor actions by the internal agent, • A business
event involving the wrong external agent, • A business event involving the wrong
resource, • A business event involving the wrong amount of resource, and/or • A
business event occurring at the wrong location
Step 5 of REAL - answerValidate your analysis with Business process owners and
participants
