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When Forecasting, Analysts Must Observe Environmental Changes to Determine If

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When forecasting, analysts must observe environmental changes to determine if an important trend is beginning to emerge.


Definitions:

Process Reengineering

The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance.

Michael Hammer

A pioneer of business process reengineering, known for his work on improving business processes to enhance competitiveness.

Efficiency

The ability to achieve a goal using the least possible amount of resources, such as time, money, and effort.

Process Reengineering

The essential overhaul and significant transformation of business operations to attain substantial enhancements in vital performance indicators.

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