Business Process Management Strategy

Business Process Management Strategy

Business Process Management Strategy

BUSINESS STRATEGY AND PROCESS MANAGEMENT- AN OVERVIEW Business strategy refers to the entire process of business planning that includes setting the objectives of a business , the vision of the company , the strategy adopted that would help the company reach its objectives , resource requirements and the business risks involved affecting strategy changes. Business process management or BPM focuses on the approach based on the needs and wants of the customers. It promotes the business effectiveness and efficiency while striving for flexibility and innovation. BUSINESS STRATEGY METHODOLOGY: The methods of an effective business strategy requires

An Inward Look - This indicates a look into the business organization capabilities and what it is able to produce to the consumers.

An Outward Look - It is the analysis of the market to identify the markets in which your business strategy can yield advantage.

BUSINESS PROCESS MANAGEMENT STRATEGY OUTLOOK: Business Process Management Strategy involves a series of activities to be performed by the relevant people in order to achieve their business goal. It makes the workflow of an organization efficient and effective. While Business strategy is the set of activities that help to accomplish the business goals, Business Process Management is the division of infrastructure management concerned in the organization of the core operations of a business. LIFE-CYCLE OF BUSINESS PROCESS MANAGEMENT: The life-cycle of BPM is continuous and can be categorized into five: 1. Designing - It involves the identification of the current business process as well as the business process to-be. The objective of this step is to ensure that right and efficient process are prepared. 2. Modeling - This step implements the theoretical design and runs the what-if analysis on the processes. 3. Execution - For the purpose of execution, automated software has been developed that allows the conversion of all business strategies into computer language that can be executed by the computer. 4. Monitoring - It comprises of tracking the individual processes and obtaining the statistics for the processes. The level of monitoring depends on what aspect does the business require an evaluation and analysis. 5. Optimization - Optimization creates an increase in the business value. It retrieves the information about the performance of the business strategy from the monitoring or modeling stage. CHANGING BUSINESS EFFECTIVELY THROUGH PROCESS MANAGEMENT: Business strategies affect the revenue of any business and also the operating costs of an organization. Most commonly, processes of a business are not well-organized and not systematic in nature. Processes are basically the building blocks of a business for achieving best results and maintain consistent competition in the market. Process management starts with viewing the organization as a whole. They must focus primarily on the key factors affecting the business visions and objectives. Building up strategies to achieve the goals depends on process management. There are three basic areas of focus:

Producing strategies to make the business objectives effective

Minimizing resource consumption and increasing business efficiency

Making business processes adaptable to the customer needs and requirements.

It is essential to maintain a holistic approach to business process management.

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