One of the Basic Principles of Business Process Management Discussed

question 57

Multiple Choice

One of the basic principles of business process management discussed in the text states: "When using consultants, make sure the task is well defined, with specific deliverables defined by the company." Which of the following actions applies that principle?

• A)Requiring a consultant to prepare and submit a budget before starting work on the BPM project.
• B)Dividing the project into phases with firm deadlines.
• C)Both A and B
• D)Neither A nor B

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Definitions:

Tax Implications

The effects that various financial decisions and actions have on the amount of tax an individual or business owes to the government.

Proportionate Ownership

The share of ownership in a company or property based on the percentage of shares or units held relative to the total outstanding.

Shareholder's Wealth

The value of a company to its shareholders, often measured by the price of its shares multiplied by the number of shares outstanding.

Stock Split

A change in the number of shares outstanding by issuing new shares in proportion to those already owned. All stockholders’ proportionate ownership is maintained, and no economic value is created. Used to keep stock prices within a desirable trading range.