Author Question: What are the four processes that define a closed-loop BPM cycle? What will be an ideal ... (Read 88 times)

Pineapplelove6 · **on:** Jul 7, 2018

What are the four processes that define a closed-loop BPM cycle?

What will be an ideal response?

Question 2

Genetic algorithms belong to the family of methods in the

A) optimization area.
B) complete enumeration family of methods.
C) artificial intelligence area.
D) non-computer based (human) solutions area.

frejo · **Reply #1 on:** Jul 7, 2018

Answer to Question 1

1. Strategize: This is the process of identifying and stating the organization's mission, vision, and objectives, and developing plans (at different levels of granularitystrategi c, tactical and operational) to achieve these objectives.
2. Plan: When operational managers know and understand the what (i.e., the organizational objectives and goals), they will be able to come up with the how (i.e., detailed operational and financial plans). Operational and financial plans answer two questions: What tactics and initiatives will be pursued to meet the performance targets established by the strategic plan? What are the expected financial results of executing the tactics?
3. Monitor/Analyze: When the operational and financial plans are underway, it is imperative that the performance of the organization be monitored. A comprehensive framework for monitoring performance should address two key issues: what to monitor and how to monitor.
4. Act and Adjust: What do we need to do differently? Whether a company is interested in growing its business or simply improving its operations, virtually all strategies depend on new projectscreating new products, entering new markets, acquiring new customers or businesses, or streamlining some processes.
The final part of this loop is taking action and adjusting current actions based on analysis of problems and opportunities.

Answer to Question 2

C