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Imagine that you are a business manager for a mid-sized company. Propose one (1) overall strategy to build an effective business model in order to both monitor / control changes in business process and predict future business performance for your company. Provide a rationale (e.g., verification process) for your response.

1.) Imagine that you are a business manager for a mid-sized company. Propose one (1) overall strategy to build an effective business model in order to both monitor / control changes in business process and predict future business performance for your company. Provide a rationale (e.g., verification process) for your response.

2.) The data in the table below is from a study conducted by an insurance company to determine the effect of changing the process by which insurance claims are approved. The goal was to improve policyholder satisfaction by speeding up the process and eliminating some non-value-added approval steps in the process. The response measured was the average time required to approve and mail all claims initiated in a week. The new procedure was tested for 12 weeks, and the results were compared to the process performance for the 12 weeks prior to instituting the change.


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