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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Process Technology
What is Process Technology  

What is Process Technology


Process Technology is a way to establish a complex of interrelated and mutually involved matters including arrangement of equipment and furniture, organization of all productive resources, human labour, workflow, supply, tools and utilization of certain methods to convert the efforts into profit.

The constraints hampering development of process technology in business include:

  • Lack of finances on acquiring and implementing innovative technologies;
  • Lack of managerial support (political reasons) and resistance to change;
  • Lack of organizational innovation strategy (no continual seeking for innovations);
  • Lack of managerial skills, understanding and flexibility in thinking;
  • Constraints of technological progress and fundamental science;

The more productive process technology is employed the more profit a company can earn. Process technology needs a continual review and improvement because it always has a potential to be more efficient than before:

  • Consume less utilities, time and other resources while in run;
  • Produce more useful output per a check period;
  • Waste less resources unproductively (a higher coefficient of efficiency);
  • Take less space (due to smaller sizes of equipment and less space required for operations);
  • Maintain a better level of quality along with a smaller level of variability;
  • Involve less specialists to work at the process;
  • Comprise less operations;
  • Be easier in maintenance and service;

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