Analysis of company's business processes: experience in Ukraine and international practices

Abstract

Business processes play an important and defining role in the life of enterprises, as they are responsible for satisfying internal and external consumer demands and enable the enhancement of the value of output products. For efficient operation and resource management, proper modeling and analysis are of paramount importance, which are crucial to achieving the objectives of the business. Thorough analysis of business processes is particularly indispensable for the development of accurate and marketable business models. These analyses assist economic stakeholders in making well-founded decisions, which are fundamental to the successful functioning of the enterprise. However, it is important to understand that relying solely on closed financial reports and static data during analyses is not feasible. The business world is in a constant state of flux, and unforeseen internal or external events can impact the operation of businesses. In order for enterprises to remain competitive and operate effectively, the flexible management of business processes and adaptation to new situations are essential. Proper modeling enables more efficient utilization of resources and the achievement of business goals. Without regular review and updating of business processes, it would be difficult to respond to changing circumstances and gain an advantage over competitors. The business world represents a dynamic and rapidly changing environment, making continuous fine-tuning and improvement of business processes indispensable. Companies that are capable of adapting and evolving in the face of new challenges and opportunities are likely to position themselves more favorably in the markets and achieve sustainable long-term growth. Therefore, striving for continuous development and innovation is the key to business success.