Read, then answer the question. For Walmart the functional process are Human Resources, Accounting and Finance, IT, and Marketing.

Accounting and finance

For an organization, the accounting and finance functional areas carry numerous responsibilities and accountabilities as well as helping to project the success of the organization and how well the organization is performing. Accounting and finance are closely linked in an organization. Accounting involves the process of collecting, categorizing, reporting, and analyzing an organization's financial resources. Accounting involves capturing and recording all activities, operations and transactions that have financial implications for the organization. While finance involves how an organization strategically makes investment and financing decisions that affect the way the organization operates. Finance and accounting have a mutual relationship in which they must work cohesively to achieve the organization's goals. The primary purpose of accounting and finance is to facilitate operations, provide measurement of actual performance, make decisions based on analysis of their cash position; providing external financial reports; and compliance with government standards, expectations and requirements in reporting all accurate financial information.

For Wal-Mart, that means having a global internal audit team to ensure that every store is operating as economically as possible. Walmart is actively streamlining and aggregating their payroll and financial services through their audit team, while their finance division is able to provide solutions, products and financial services to their mobile channels, websites and customers in their stores worldwide. In order to maintain their goals, Walmart determines the impact of each merger and acquisition on their business while maintaining their mission of helping their customers save money. Through their organizational structure, they are able to facilitate a system of accountability that makes their goals simple and achievable.

One cross-functional process used in Walmart is Quality Management:

Walmart approaches this decision area of operations management through three levels of quality standards. The lowest level determines the minimum quality requirements of most buyers. Walmart maintains this level for most of its brands, such as Great Value. The middle level determines the average quality of the market for low-cost retailers. This level is used for some products and also for the job goals of Walmart employees, especially sales staff. The top tier specifies quality levels that exceed market averages in retail. This tier only applies to a minority of Walmart outlets, such as Sam's Choice merchandise. This three-tiered approach meets quality management objectives in the strategic decision-making areas of operational management throughout the retail business organization.

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Analyze each of the business processes above by explaining if they are efficient or not? Explain what makes the business process efficient or inefficient? If any of the business processes are inefficient, re-engineer (change) the inefficient business processes to make them more efficient and explain how the re-engineered process improved things.