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WHAT IS A BUSINESS PROCESS
A business process is a set of activities carried out by a group of people and teams as tasks and approvals with a specific sequence set by the company to achieve a pre-defined goal. These goals could be in different business areas such as Management, Operations, and Support functions.
For Example, in the Management area, the goals are mostly strategic such as setting up a go-to-market strategy where different teams bring up a product to the market. In such cases, the management will define which team will do what activities, who will request and approve, any equipment used in the process, all required to launch new products. Finally, a successful product launch
Examples of Strategic Processes:
In operations, it is always the company’s core business processes such as manufacturing of products, Procurement of required items, Financial management processes like Accounts Payable / Receivable, delivering a service, running a project, etc. These are the essential processes of the organizations as they are directly connected to bringing revenue and profitability to the business.
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Examples of Operational Processes:
Support processes are closely connected to the operations to make the operations efficient and manageable. However, these processes do not make money for the organizations but will support and facilitate the primary revenue stream and provide cost savings. For Example, recruiting and onboarding employees
Examples of Support Processes: