Key Business Process

Key Business Process

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Key Business Process

Key business processes include those that have utmost influence on an organization’s proceedings. Such processes carry the result that is directed towards measurable and specific goals of the company. Ultimately, the organization needs to excel in these processes if it needs to remain competitive. Being profitable in turn determines an organization’s competitive edge. As an accountant, I recently landed a job in Macorp Company that specializes in designing and developing computer software, consumer electronics and personal computers. Carrying out my financial obligations effectively requires having an informed understanding of the company’s business processes.

Understanding the key business practices of Macorp Company requires using an efficient framework designed to identify the company’s line of work. Primarily, the framework to be used is made of three processes. The first step involves identifying critical success factors that achieve the objectives of the company. These factors drive the company’s performance and have critical contribution on Macorp’s objectives. To understand the critical success factors requires analyzing the documents that drive the company’s processes (Considine, 2010). Similar to other company’s, Macorp is bound to store and transmit business process information through documents. Such documents include materials such as databases, spreadsheets, and a reference book among others.

For example, this method can be applied in understanding Macorp’s shipment process. The company has a strict policy that requires branch managers to record electronic materials that are shipped into the plant for manufacturing. By analyzing these records, I would be able to understand the shipment process and draw informative conclusions regarding the costs incurred in this process. Additionally, I would also identify the parties relevant in this process and understand their worth to the company.

The second step would involve groping and ungrouping un-related or related processes and name them according to the operation or activity they do. For example, I would classify the processes into transactional business processes and non-transactional business processes (Barnes and Open University, 2011). In this regard, Macorp’s transactional business processes would include all those that involve parties beyond the company. Such parties include other companies, customers, and shareholders among others. Such business processes may include product sales, contracts, and partnerships. In terms of non-transactional business processes, such processes are those that the company conducts independently. An example of such a process involves manufacturing of the company’s products inside the plant.

The third process that would assist me in this exercise involves quantifying the critical success factors. Primarily, critical success factors are combinations of processes and activities that facilitate the achievement of particular outcomes as stipulated by the company’s goals. Consequently, they can be controlled partially and therefore subject to management. Critical factors, performance measurement and management such as accounting are intertwined intrinsically (Considine, 2010). I can be able to identify critical success factors by studying Macorp’s operating context. In other words, this would involve studying the company’s competitive strategy, size, beliefs, values, cost structure management and financial strength.

Ultimately, applying the three-step framework shown above would help me understand Macorp’s business process. It is my understanding that gaining such information is critical to assisting me in tackling my duties as the company’s accountant. However, it is important to recognize the need of brainstorming with senior level executives to facilitate this process. As such, this would ensure that I gain a greater understanding of the various activities and processes are most influential in fulfilling the company’s goals.

Reference

Barnes, D., & Open University. (2011). Understanding business: processes. London: Routledge in association with the Open University.

Considine, B. (2010). Accounting information systems: Understanding business processes. Milton, Qld: John Wiley & Sons.