Professional Documents
Culture Documents
6.Business Precess-re-engineering
Re-engineering is a complete redesign of process with an emphasis on finding creative new ways
to accomplish an objective.The aim of business process re-engineering is to improve the key
business process in an organization by focusing on simplification, cost reduction, improved
quality and enhanced customer satisfaction.
7.Total Quality Management(TQM)
Under the TQM approach, all business functions are involved in a process of continuous quality
improvement.
8. Value chain
Value chain analysis is a means of achieving higher customer satisfaction and managing costs
more effectively. The value chain is the linked set of value creating activities all the way from
basic raw materials' sources, component suppliers, to the ultimate end-use product or service
delivered to the customer.
9. Bench Marketing
Bench marketing is a continual search for the most effective method of accomplishing a task by
comparing the existing methods and performance levels with those of other organizations or
other sub-units within the same organization.
10. Management Audits
Management audits, also known as performance audits, can be used to facilitate cost reduction in
both profit and non-profit organizations. Management audits are intended to help management to
do a better job by identifying waste and inefficiency and recommending a corrective action.