Workflow

Filed Under »
Dictionary Says

Definition of 'Workflow'

A series of tasks to produce a desired outcome, usually involving multiple participants and several stages in an organization. Workflow describes the sequential steps that comprise a work process in the business environment. In its most comprehensive form, workflow includes the procedures, people and tools involved in each step of a business process. Workflow may either be sequential, with each step contingent upon completion of the previous one, or parallel, with multiple steps occurring simultaneously.

Investopedia Says

Investopedia explains 'Workflow'

A number of workflow improvement theories have been advanced since the concept was first propounded. These include Six Sigma and total quality management, which have been embraced by organizations around the world.

For example, the manufacturing of a car through various stages on the design, shop floor assembly, to quality verification. Workflow could also include the processing of loan applications by a bank or insurance claims by an insurer, and the editing and production processes at a daily newspaper.

Articles Of Interest

  1. Two Roads: Debt Or Financial Independence?

    A higher income won't make you richer - unless you learn to live on less.
  2. Is Your Investment Manager Skilled Or Lucky?

    Being familiar with composite presentations will help you better assess the quality of an investment manager's performance.
  3. Wheels Of A Future Fortune

    Buy a quality car without driving your expenses through the roof.
  4. The Financial Characteristics Of A Successful Company

    There are many factors that contribute to a profitable business. Find out what they are here.
  5. Weighted Average Cost Of Capital (WACC)

    Weighted average cost of capital may be hard to calculate, but it's a solid way to measure investment quality
  6. What is a monopoly?

    Monopoly is a fun family game, but in real life, a monopoly can be dangerous to a country's economy. A monopoly occurs when an industry or sector has only one producer of goods or retailer for ...
  7. Capital Expenditures (CAPEX)

    Learn more about what it costs to produce goods.
  8. Working Capital

    Working capital is one of the basic metrics used to evaluate a company's financial health. Find out what it can tell you about a stock and learn how to calculate it.
  9. What is the difference between "hard money" and "soft money"?

    Hard money and soft money are terms that are often used to describe coin money and paper money, respectively. However, these terms are also used to refer to political contributions in the United ...
comments powered by Disqus
Marketplace
Hot Definitions
  1. Xenocurrency

    A currency that trades in markets outside of its domestic borders.
  2. Wanton Disregard

    A standard of severe negligence. Wanton disregard is a very serious accusation that indicates that a person behaved extremely recklessly.
  3. Ultra ETF

    A class of exchange-traded funds (ETF) that employs leverage in an effort to achieve double the return of a set benchmark.
  4. Toehold Purchase

    A purchase of less than 5% of a target company's outstanding stockmade by an acquiring company. A toehold purchase of just under 5%, while not a significant stake in a firm, allows the shareholders a "toe-holds" grip on the company and its decision making.
  5. Samurai Bond

    A yen-denominated bond issued in Tokyo by a non-Japanese company and subject to Japanese regulations.
  6. Chartalism

    A non-mainstream theory of money that emphasizes the impact of government policies and activities on the value of money.
Trading Center
http://sp.fastclick.net/ad/tr/10858-64082-15546-0?mpt=b0409e83256b26aa64c9fe6a1727c1d6