Managing Risk with Business Process Engineering (BPE) for organizational stability in the Service Industry

Author(s)	Krishna Valluru
Country	United States
Abstract	Current business landscape is changing drastically and is vulnerable to unforeseen risks. Managing risks is challenging if appropriate action is not taken to address them and is perilous for the organization’s longstanding permanency. Embracing the notion and the practice of implementing Business Process Engineering (BPE) by myriad organizations can lead to organizational transformation pathway ensued by an adapted routine for enhanced process improvement (PI) mindset. Process improvement ought to be materialized with an enduring vision to include strong leadership support and appropriate resource allocation [1]. The end goal of business process engineering is to achieve significant improvements in areas needing immediate attention involving a complete overhaul of non-performing and non-value adding processes. This paper investigates the relationship between Business Process Engineering and risk management in addition to aiding readers to obtain a preliminary understanding of how Business Process Engineering (BPE) can be leveraged as an effective risk management tool in reducing uncertainties in the performance of the existing inherent processes that pave the way for promoting organizational stability in the services industry.
Field	Engineering
Published In	Volume 2, Issue 1, January-February 2020
Published On	2020-02-11
DOI	https://doi.org/10.36948/ijfmr.2020.v02i01.48992
Short DOI	https://doi.org/g9q32t

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International Journal For Multidisciplinary Research