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Process Capital
Process capital is the value to an enterprise which is derived from the techniques, procedures, and programs that implement and enhance the delivery of goods and services. Process capital is one of the three components of structural capital, itself a component of intellectual capital.Edvinsson L, Malone MS (1997) Intellectual capital: realizing your company’s true value by finding its hidden roots. HarperBusiness, New York Process capital can be seen as the value of processes to any entity, whether for profit or not-for profit, but is most commonly used in reference to for-profit entities. A process comprises a "series or network of value-added activities, performed by their relevant roles or collaborators, to purposefully achieve the common business goal. Process capital can be created and enhanced by using business process mapping, business process modeling and business process management Roots Process capital in organisations Organisations invest in process capital in or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goods And Services
Goods are items that are usually (but not always) tangible, such as pens, physical books, salt, apples, and hats. Services are activities provided by other people, who include architects, suppliers, contractors, technologists, teachers, doctors, lawn care workers, dentists, barbers, waiters, online servers, a digital book, a digital video game or a digital movie. Taken together, it is the production, distribution, and consumption of goods and services which underpins all economic activity and trade. According to economic theory, consumption of goods and services is assumed to provide utility (satisfaction) to the consumer or end-user, although businesses also consume goods and services in the course of producing other goods and services (see: Distribution: Channels and intermediaries). History Physiocratic economists categorized production into productive labour and unproductive labour. Adam Smith expanded this thought by arguing that any economic activities directly re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Structural Capital
Structural capital is one of the three primary components of intellectual capital, and consists of the supportive infrastructure, processes, and databases of the organisation that enable human capital to function. Structural capital is owned by an organization and remains with an organization even when people leave. It includes: capabilities, routines, methods, procedures and methodologies embedded in organisation. Structural capital is the supportive non-physical infrastructure that enables human capital to function. There are three subcomponents that comprise structural capital: Organizational capital includes the organization philosophy and systems for leveraging the organization’s capability. Process capital includes the techniques, procedures, and programs that implement and enhance the delivery of goods and services. Innovation capital includes intellectual property and certain other intangible assets. Intellectual property includes protected commercial rights such a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intellectual Capital
Intellectual capital is the result of mental processes that form a set of intangible objects that can be used in economic activity and bring income to its owner (organization), covering the competencies of its people ( human capital), the value relating to its relationships (relational capital), and everything that is left when the employees go home (structural capital), of which intellectual property (IP) is but one component. It is the sum of everything everybody in a company knows that gives it a competitive edge. The term is used in academia in an attempt to account for the value of intangible assets not listed explicitly on a company's balance sheets. On a national level, intellectual capital refers to national intangible capital (NIC). A second meaning that is used in academia and was adopted in large corporations is focused on the recycling of knowledge via knowledge management and intellectual capital management (ICM). Creating, shaping and updating the stock of intellectua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Mapping
Business process mapping refers to activities involved in defining what a business entity does, who is responsible, to what standard a business process should be completed, and how the success of a business process can be determined. The main purpose behind business process mapping is to assist organizations in becoming more effective. A clear and detailed business process map or diagram allows outside firms to come in and look at whether or not improvements can be made to the current process. Business process mapping takes a specific objective and helps to measure and compare that objective alongside the entire organization's objectives to make sure that all processes are aligned with the company's values and capabilities. International Organization for Standardization or ISO 9001 : 2015 encourages a process approach to quality management. It is important to understand how each process relates to other processes within the organization and how those interactions impact Quality ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Modeling
Business process modeling (BPM) in business process management and systems engineering is the activity of process modeling, representing processes of an enterprise, so that the current business processes may be analyzed, improved, and automated. BPM is typically performed by business analysts, who provide expertise in the modeling discipline; by subject matter experts, who have specialized knowledge of the processes being modeled; or more commonly by a team comprising both. Alternatively, the process model can be derived directly from events' logs using process mining tools. The business objective is often to increase process speed or reduce cycle time; to increase quality; or to reduce costs, such as labor, materials, scrap, or capital costs. In practice, a management decision to invest in business process modeling is often motivated by the need to document requirements for an information technology project. Change management programs are typically involved to put any improved b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process Management
Business process management (BPM) is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. Any combination of methods used to manage a company's business processes is BPM. Processes can be structured and repeatable or unstructured and variable. Though not required, enabling technologies are often used with BPM. It can be differentiated from program management in that program management is concerned with managing a group of inter-dependent projects. From another viewpoint, process management includes program management. In project management, process management is the use of a repeatable process to improve the outcome of the project. Key distinctions between process management and project management are repeatability and predictability. If the structure and sequence of work is unique, then it is a project. In business process management, a sequence of work can vary from instance to instance: t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IT Infrastructure
Information technology infrastructure is defined broadly as a set of information technology (IT) components that are the foundation of an IT service; typically physical components (computer and networking hardware and facilities), but also various software and network components. According to the ITIL Foundation Course Glossary, IT Infrastructure can also be termed as “All of the hardware, software, networks, facilities, etc., that are required to develop, test, deliver, monitor, control or support IT services. The term IT infrastructure includes all of the Information Technology but not the associated People, Processes and documentation.” Overview In IT Infrastructure, the above technological components contribute to and drive business functions. Leaders and managers within the IT field are responsible for ensuring that both the physical hardware and software networks and resources are working optimally. IT infrastructure can be looked at as the foundation of an organizatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quality Improvement
Quality management ensures that an organization, product or service consistently functions well. It has four main components: quality planning, quality assurance, quality control and quality improvement. Quality management is focused not only on product and service quality, but also on the means to achieve it. Quality management, therefore, uses quality assurance and control of processes as well as products to achieve more consistent quality. Quality control is also part of quality management. What a customer wants and is willing to pay for it, determines quality. It is a written or unwritten commitment to a known or unknown consumer in the market. Quality can be defined as how well the product performs its intended function. Evolution Quality management is a recent phenomenon but important for an organization. Civilizations that supported the arts and crafts allowed clients to choose goods meeting higher quality standards than normal goods. In societies where arts and crafts ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital (economics)
In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a given year." A typical example is the machinery used in factories. Capital can be increased by the use of the factors of production, which however excludes certain durable goods like homes and personal automobiles that are not used in the production of saleable goods and services. Adam Smith defined capital as "that part of man's stock which he expects to afford him revenue". In economic models, capital is an input in the production function. The total physical capital at any given moment in time is referred to as the capital stock (not to be confused with the capital stock of a business entity). Capital goods, real capital, or capital assets are already-produced, durable goods or any non-fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Process And Product Chart
A process is a series or set of activities that interact to produce a result; it may occur once-only or be recurrent or periodic. Things called a process include: Business and management *Business process, activities that produce a specific service or product for customers *Business process modeling, activity of representing processes of an enterprise in order to deliver improvements *Manufacturing process management, a collection of technologies and methods used to define how products are to be manufactured. *Process architecture, structural design of processes, applies to fields such as computers, business processes, logistics, project management *Process costing, a cost allocation procedure of managerial accounting * Process management, ensemble of activities of planning and monitoring the performance of a business process or manufacturing processes *Process management (project management), a systematic series of activities directed towards causing an end result in engineeri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Intelligence Terms
Business is the practice of making one's living or making money by producing or buying and selling The ''Property Brothers'' franchise is a Canadian media franchise that stars Canadian twins Jonathan and Drew Scott and centers around the selling, purchasing, and renovation of real estate property. The shows also often guest star their olde ... Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
