Modeling, measurement and management of business processes in organization

Abstract

Creating value in each company is based on business processes in it. Their rational organization is a key factor in their transformation into a competitive advantage for the company. In order to achieve this it is necessary the business processes to be analyzed in detail, continuously optimized and effectively managed by means of combining of management methods and techniques with tools of information technology. This study is focused in particular on business models and business modeling as a formalized and understandable to all stakeholders’ activities of the organization and their interaction through material, financial and information flows. The main issues in it are monitoring and control of business processes as well as reengineering of the business processes as a fundamental rethinking and a complete redesign of business processes to achieve radical improvements in the key indicators of the company. For management of processes it is necessary to be realized full cycle of the process - planning, implementation, monitoring and improvement.