|business process reengineering (BPR)|
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Definition of business process reengineering (BPR)
business process reengineering (BPR)
the process of combining information technology to create new and more effective
Key strategies a firm intends to pursue in carrying out its business plan.
Repetitive cycles of economic expansion and recession.
A business that has terminated with a loss to creditors.
The risk that the cash flow of an issuer will be impaired because of adverse economic
The time that elapses between receipt of payment from a customer and the
A conception of the way a stock's price changes that assumes that the price takes on all
Refers to the time it takes the receiver of a check to process the payment and
The process of determining the prices of the assets in the marketplace through the
A method of costing for continuous manufacture in which costs for an accounting compared are compared with production for the same period to determine a cost per unit produced.
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
an activity that is necessary for the operation of the business but for which a customer would not want to pay
relative costs and benefits that result from a specific course
the method of cost assignment that computes an average cost per equivalent
a model that involves
a manufacturing process that simultaneously
modified FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per
the ability of a worker to monitor
benchmarking that focuses on practices and how the best-in-class companies achieved their results
an assessment about the number of processes through which a product flows
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
the actual time consumed performing the
a flowchart or diagram indicating every step
the total units produced during a period
process quality yield
the proportion of good units that resulted from the activities expended
product- (or process-) level cost
a cost that is caused by the development, production, or acquisition of specific products or services
statistical process control (SPC)
the use of control techniques that are based on the theory that a process has natural variations in it over time, but uncommon variations
strict FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per equivalent unit and, in transferring units from a department, keeps the
weighted average method (of process costing)
the method of cost assignment that computes an average cost per
Statistical assumptions about the behavior of security prices. For
A series of linked activities that result in a specific objective. For example, the
A costing methodology that arrives at an individual product cost through the calculation of average costs for large quantities of identical products.
Inventory that has been partially converted through the
operating risk (business risk)
Risk in firm’s operating income.
Fluctuations of GDP around its long-run trend, consisting of recession, trough, expansion, and peak.
Political Business Cycle
A business cycle caused by policies undertaken to help a government be re-elected.
Real Business Cycle Theory
Belief that business cycles arise from real shocks to the economy, such as technology advances and natural resource discoveries, and have little to do with monetary policy.
Purchased In-Process Research and Development
Unfinished research and development that is acquired from another firm.
Process flow production
A production configuration in which products are continually
Material that has been reworked and returned to stock.
Any items being converted into finished goods or released from
Business Expansion Investment
The use of capital to create more money through the addition of fixed assets or through income producing vehicles.
High-Risk Small Business
Firm viewed as being particularly subject to risk from an investors perspective.
Commercial Business Loan (Credit Insurance)
An agreement between a creditor and a borrower, where the creditor has loaned an amount to the borrower for business purposes.
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