ST102E - Lesson 3: Business Process Management, Organizational Structure, and Risk Management

These flashcards cover key vocabulary related to business process management, organizational structures, and risk management based on lecture notes.

Business Process Management (BPM)

A set of correlated, interrelated activities leading to a result; a continuous sequence of operations constituting the way to achieve a business outcome.

Process Map

A visual representation of the steps involved in a business process, used to help create, understand, and implement processes.

Operational Process

Processes related to the cycle of detecting customer needs, designing offers, developing products, manufacturing, and selling.

Organizational Structure

A system that outlines how certain activities are directed to achieve the goals of an organization, including rules, roles, and responsibilities.

Risk Management

The process of identifying, assessing, and mitigating risks that may impact an organization's objectives.

Ishikawa Diagram

A visual tool used to identify and display the causal factors leading to a specific outcome, often used in production or design problem analysis.

Centralized Structure

An organizational structure where decision-making is concentrated at the top levels of management.

Decentralized Structure

An organizational structure that delegates decision-making powers and allows for more flexible processes across different levels.

Functional Structure

An organizational structure that groups employees based on specialty or functional area, allowing for clear accountability and focused performance.

Divisional Structure

An organizational structure grouping each function into a division, with each division responsible for its own resources and functions.

Matrix Structure

An organizational structure that groups individuals by two different operational perspectives, increasing complexity but enhancing communication and flexibility.