Business process re-engineering (BPR) involves rethinking and redesigning organizational processes to achieve dramatic improvements in performance metrics like cost, quality, service, and speed. It assumes current processes are irrelevant and should be replaced. BPR follows a three-phased approach of planning, redesign, and implementation. The goals are radical change, dramatic outcomes, and replacing or transforming overall processes. Advantages include satisfaction and growth, while risks include resistance to change. Common benefits are enterprise integration, fewer steps and rules, and reduced inspections. Critiques argue BPR focuses too much on efficiency over people.