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BUAD 342 Exam 1 Complete Questions And Answers | Guaranteed Success
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BUAD 342 Exam 1 Complete Questions And Answers | Guaranteed Success
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BUAD 342 Exam 1 Complete QuestionsAnd Answers | Guaranteed Success
Why do organizations perform business processes? CORRECT ANSWERS to reach
strategic business goals
How is a business event related to a business process? CORRECT ANSWERS By
analyzing business events, we can more easily identify the data needs of a business
process.
Name and describe the three core interdependent business processes that are common
to all organizations. CORRECT ANSWERS Procure to Pay (selling)
Order to Cash (buying)
Conversion (making)
Name and describe the four common business events for the business process Order to
Cash. CORRECT ANSWERS 1) provide a quote to the customer (and other forms of
marketing and customer service)
2) negotiate a sales order with a customer (a pre-sale event)
3) deliver goods or services to the customer (the sale)
4) receive payment for goods/services from the customer
Name and describe the four common business events for the business process Procure
to Pay. CORRECT ANSWERS 1) identify a need for goods or services (including
monitoring inventory levels) and possibly request purchase
2) negotiate a purchase order with a vendor (a pre-sale purchase event)
3) receive goods/services from a vendor (the purchase)
4) pay a vendor for goods/services
Name and describe some common business events for the business process
Conversion. CORRECT ANSWERS - assembling a product
- growing a crop
- transforming knowledge into valued intellectual property
- steps in educating or training
- discovering (e.g. research and development activities)
Business Process CORRECT ANSWERS collections of related activities that combine
different resources and inputs to create valuable outputs (including products or
services)
Business Event CORRECT ANSWERS activities performed within a business process
Decomposition (decompose processes) CORRECT ANSWERS the way that business
processes are simplified
, break down processes into pieces called events
Economic Event (a business process event) CORRECT ANSWERS the transfer of
control of an economic resource from one party to another
For Profit Organizations CORRECT ANSWERS generating a profit is the primary
objective
Examples of For Profit: CORRECT ANSWERS manufacturers
service providers
retailers/distributers
agricultural/mining
financial
utilities
real estate
transportation/logistics
Not for Profit Organizations CORRECT ANSWERS providing a service is typically the
primary objective
Examples of Not for Profit: CORRECT ANSWERS government
schools
charities
Order to Cash Business Process CORRECT ANSWERS (selling) delivering goods and
services to customers and collecting payment
Procure to Pay Business Process CORRECT ANSWERS (buying) acquiring and paying
for resources
Conversion Business Process CORRECT ANSWERS (making) converting resources
into goods and services for consumers
Outsourcing CORRECT ANSWERS a company seeking resources from outside of their
organization for a part of production from other companies or contractors who specialize
in those activities
Business Resources CORRECT ANSWERS an economic or productive factor required
to accomplish an activity or achieve a desired outcome
How is information related to data? CORRECT ANSWERS Information is data that has
been processed and that now has characteristics such as:
- being accurate
- being timely
- having a specific purpose
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