This concept provides for a rethinking of the company's activities at the global level, and the development of radical measures to optimize and increase the efficiency of business processes and achieve maximum results from the funds invested in the company. Characteristics such as improvements in cost, quality, service and pace will be relevant here.
This process usually involves two main stages:
1. With the help of various methods, the choice of the optimal, close to ideal, way of company development.
2. Development of a number of activities that allow you to quickly and without loss make the transition from the existing style of the business process to the chosen best option.
The procedure also includes:
Determination of the basic principles of the company's strategic development.
Identification of key points to rely on when implementing a strategy.
An analysis that examines in detail the direction of the company's activities today.
Identification of weaknesses requiring revision of the sides of the current strategy.
Identification of fundamental issues, methods, indicators that must be followed to achieve the goal.
Reorganization.
· Exercise control over new business processes and continue to constantly adjust them, based on already existing indicators.
Reengineering as a method of innovative management can be seen in relation to the innovative business process by which new products and operations are created. Since the business process is an integral part of the concept of "reengineering", and more importantly, its component, which is influenced by certain methods, it will be appropriate to dwell on this definition in more detail.
More here - https://en.wikipedia.org/wiki/Business_process_re-engineering
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