Inmt Module 1 Questions With Solutions

INMT MODULE 1 QUESTIONS WITH SOLUTIONS Agents The one performing the work. Human or machine. (Assembly line, ATM, website) Business event The operating activities performed within a business process to provide goods and services Business event risk Result in errors and irregularities having one or more of the following characteristics: event occurring at wrong time, wrong agent, resource or amount of resource. Business process Collection of related activities that combine different resources and inputs to create an output that is of value to the organization, its stakeholders and customers Conversion process Activities to convert raw materials into finished products Data repository Collection of data such as a database used to generate information output Decision/management event Activities where management and other people make decisions about planning,controlling and evaluating business processes Decomposition Separating into separate events Duality Two business events that include an increase and decrease of resources Economic event Event that increases or decreases economic resources Event Single activity within a business process Event trigger Action that initiates the event Extended enterprise business processes Business process that span organizational boundaries External agent Person that the company is interacting with (customer bank etc) For profit organization Organization that strives to make a profit (take legal form unicorporated or corporation) Information processing event Information necessary to support business processes(record, maintain, report) Internal agent Employees or machines playing role of employees Linkages Flow of information, goods and services, and systems and processes for adjusting activities. Managing linkages allows realizing profit Locations Where the business event occurs Margin Difference between total value and cost of performing activities Not for profit org Strive to provide services to constituents without gaining profit Order to cash Events that collectively serve to attract and retain customers Outsourcing One organization finds another organization or individual to perform some work Porter,Michael Creator of value chain analysis Primary activities Events that provide customer value and provide organizational distinctiveness in the marketplace. Critical activities in running a business