MGT 3900 Exam 1 (Chapters 1-4) 100% Errorless answers.

Process correct answers any transformation that converts inputs to outputs 5 elements of a process correct answers 1. Inputs and Outputs 2. Flow Units 3. Network of Activities and Buffers 4. Resources 5. Information Structure Inputs correct answers any tangible or intangible items that flow into the process from the environment Outputs correct answers any tangible or intangible items that flow from the process back into the environment Flow Units correct answers the item being analyzed Activity correct answers the simplest form of transformation; it is the building block of a process Buffer correct answers stores flow units that have finished with one activity but are waiting for the next activity to start Inventory correct answers the total number of flow units present within process boundaries Network of Activities and Buffers correct answers process activities are linked so that the output of one becomes and input into another, often through an intermediate buffer Precedence Relationships correct answers the sequential relationships that determine which activity must be finished before another can begin Resources correct answers tangible assets that are usually divided into 2 categories 1: Capital 2: Labor Capital Resources correct answers fixed assets such as land, buildings, facilities, equipment, machines, and information systems Labor Resources correct answers people such as engineers, operators, customer service representative, and sales staff Information Structure correct answers shows what information is needed and is available to whom in order to perform activities or make managerial decisions Business Process correct answers a network of activities separated by buffet and performed by resources that transform inputs into outputs