The Basic Principles of Business Process Management Discussed in the Text

question 17

Multiple Choice

The basic principles of business process management discussed in the text include all of the following except:

• A)Always use information technology in BPM projects.
• B)Hire people who can see the "big picture."
• C)Communicate early; communicate often.
• D)Understand how business processes support organizational strategy.

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Definitions:

Marginal Revenue

The extra revenue gained by selling an additional unit of a product or service.

Economies of Scale

Cost advantages that entities attain due to the scale of operation, with costs per unit of output generally decreasing with increasing scale.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, measuring the performance exceeding opportunity costs.