Business processes are important to communicate an organization’s best practices as they leverage themselves against competitors. Some benefits of business processes are that in the long-run gains may be realized in cost reduction, meeting customers’ expectations, and streamlining business operations. Business process management then focuses on workflow which may hinder good performance.
Address the following requirements:
- Identify a business process for which there is not yet a workflow diagram, explain the situation, and devise a workflow to address the problem
- Defend your workflow and identify any areas of concern that may hinder successful implementation and a proposed remedy to that concern.
Many researchers praise the benefits of participative budgeting. Is it wise to involve multiple parties at multiple levels in the organization in the budget preparation process? Why or why not?
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