Business Process Management Is All About

question 53

Multiple Choice

Business process management is all about

• A) CRM.
• B) installing SAP R/3 to gain industry standard processes.
• C) shortening your supply chain.
• D) accomplishing the same activities with less resource cost.
• E) becoming a cost leader under Porter's models.

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Definitions:

Control Chart

A tool used in process control to monitor, control, and identify the stability of a process over time.

Process

A series of actions or steps taken in order to achieve a particular end.

Statistical Process Control

A method used to monitor, control, and ensure the quality of processes by using statistical methods.

Type II Error

A statistical error that occurs when a hypothesis test fails to reject a false null hypothesis, also known as a "false negative."