Intro to Management-Hamilton Rutgers Exam Review with Guaranteed Accurate Answers

Performance Management - correct answer The ongoing assessment and improvement of key business processes in order to drive superior results goal is to improve faster and better than competition focus on capabilities/ processes Performance Management 3 Core Elements - correct answer process management, business assessment, business improvement Measure Process Management - correct answer create outcome measures and predictive measures that allow complete understanding of process performance Analyze Process Management - correct answer use the measures and process maps to understand the performance of the process vs. goals and benchmarks Process Mapping - correct answer used to describe the process visually; clarifies what each step does and who does it Process Management - correct answer use flow charts to identify customers, suppliers, and those who perform key steps in the process DMAI^2C Key Elements (DMAI2C): - correct answer Define - Use flow charts to identify customers, suppliers, and those who perform key steps in the process (SIPOC Model) Measure - Create outcome measures and predictive measures that allow complete understanding of process performance Analyze - Use the measures and process maps to understand the performance of the process vs. goals and benchmarks Improve/Innovate - Make improvement a routine activity using basic/advanced tools & methods Control - Make sure the process and improvements continue to provide consistent, predictable performance. 6 Key components of the Value Chain (business assessment) - correct answer 1. Leadership 2. Products Development 3. Demand Generation 4. Supply Chain 5. Organization and People 6. Compliance Business Assessment - correct answer Comprehensive evaluation of business performance and business process management against a core set of fundamental business excellence criteria