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Operating Model
An operating model is both an abstract and visual representation (model) of how an organization delivers value to its customers or beneficiaries as well as how an organization actually runs itself. Definition There are different ways of defining the elements that make up an operating model. :''People'', ''process'' and ''technology'' is one commonly used definition, ''process'', ''organization'' and ''technology'' is another. An organization is a complex system for delivering value. An operating model breaks this system into components, showing how it works. It can help different participants understand the whole. It can help leaders identify problems that are causing under performance. It can help those making changes check that they have thought through all elements and that the whole will still work. It can help those transforming an operation coordinate all the different changes that need to happen. An operating model is like the blueprint for a building. It is more dynamic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Target Operating Model
Target operating model is a description of the desired state of the operating model of an organisation. When working on the operating model, it is normal to define the "as is" model and the "to be" model. The target operating model is the "to be" model. It is possible to produce a target operating model for a business or a function within a business or a government department or a charity. There are many different frameworks identifying the components of a target operating model. Hence each project to define a target operating model will focus on slightly different aspects depending on the challenge facing the organisation. Some target operating models are created to help with the link between information technology and strategy, others to help with the link between organisation design and strategy, and so on. A target operating model converts strategy ideas into operational plans. One framework described in the operating model definition comes from Ashridge Executive Educat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sloan School Of Management
The MIT Sloan School of Management (MIT Sloan or Sloan) is the business school of the Massachusetts Institute of Technology, a private university in Cambridge, Massachusetts. MIT Sloan offers bachelor's, master's, and doctoral degree programs, as well as executive education. Its degree programs are among the most selective in the world. MIT Sloan emphasizes innovation in practice and research. Many influential ideas in management and finance originated at the school, including the Black–Scholes model, the Solow–Swan model, the random walk hypothesis, the binomial options pricing model, and the field of system dynamics. The faculty has included numerous Nobel laureates in economics and John Bates Clark Medal winners. History The MIT Sloan School of Management began in 1914 as the engineering administration curriculum ("Course 15") in the MIT Department of Economics and Statistics. The scope and depth of this educational focus grew steadily in response to advances in the theo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Target Operating Model
Target operating model is a description of the desired state of the operating model of an organisation. When working on the operating model, it is normal to define the "as is" model and the "to be" model. The target operating model is the "to be" model. It is possible to produce a target operating model for a business or a function within a business or a government department or a charity. There are many different frameworks identifying the components of a target operating model. Hence each project to define a target operating model will focus on slightly different aspects depending on the challenge facing the organisation. Some target operating models are created to help with the link between information technology and strategy, others to help with the link between organisation design and strategy, and so on. A target operating model converts strategy ideas into operational plans. One framework described in the operating model definition comes from Ashridge Executive Educat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shared Services
Shared services is the provision of a service by one part of an organization or group, where that service had previously been found, in more than one part of the organization or group. Thus the funding and resourcing of the service is shared and the providing department effectively becomes an internal service provider. The key here is the idea of 'sharing' within an organization or group. This sharing needs to fundamentally include shared accountability of results by the unit from where the work is migrated to the provider. The provider, on the other hand, needs to ensure that the agreed results are delivered based on defined measures ( KPIs, cost, quality etc.). Overview Shared services is similar to collaboration that might take place between different organizations such as a Hospital Trust or a Police Force. For example, adjacent Trusts might decide to collaborate by merging their HR or IT functions. There are two arguments for sharing services: [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governance, Risk Management, And Compliance
Governance, risk management and compliance (GRC) is the term covering an organization's approach across these three practices: governance, risk management, and compliance. The first scholarly research on GRC was published in 2007 by Scott L. Mitchell, Founder and Chair of OCEG where GRC was formally defined as "the integrated collection of capabilities that enable an organization to reliably achieve objectives, address uncertainty and act with integrity." The research referred to common "keep the company on track" activities conducted in departments such as internal audit, compliance, risk, legal, finance, IT, HR as well as the lines of business, executive suite and the board itself. Overview Governance, risk management, and compliance are three related facets that aim to assure an organization reliably achieves objectives, addresses uncertainty and acts with integrity. Governance is the combination of processes established and executed by the directors (or the board of director ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capability Management In Business
Capability management is the approach to the management of an organization, typically a business organization or firm, based on the "theory of the firm" as a collection of capabilities that may be exercised to earn revenues in the marketplace and compete with other firms in the industry. Capability management seeks to manage the stock of capabilities within the firm to ensure its position in the industry and its ongoing profitability and survival. Prior to the emergence of capability management, the dominant theory explaining the existence and competitive position of firms, based on Ricardian economics, was the resource-based view of the firm (RBVF). The fundamental thesis of this theory is that firms derive their profitability from their control of resources – and are in competition to secure control of resources. Perhaps the best-known exposition of the Resource-based View of the Firm is that of one of its key originators: economist Edith Penrose. "Capability management" may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Model
A business model describes how an organization creates, delivers, and captures value,''Business Model Generation'', Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, cultural or other contexts. The process of business model construction and modification is also called ''business model innovation'' and forms a part of business strategy. In theory and practice, the term ''business model'' is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture. Context The literature has provided very diverse interpretations and definitions of a business model. A systematic review and analysis of manager responses to a survey defines business models ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Architecture
In the business sector, business architecture is a discipline that "represents holistic Holism () is the idea that various systems (e.g. physical, biological, social) should be viewed as wholes, not merely as a collection of parts. The term "holism" was coined by Jan Smuts in his 1926 book ''Holism and Evolution''."holism, n." OED Onl ..., multidimensional business views of: capabilities, end‐to‐end value delivery, information, and organizational structure; and the relationships among these business views and Business Strategy, strategies, products, policies, initiatives, and Stakeholder (corporate), stakeholders." In application, business architecture provides a bridge between an enterprise business model and business, enterprise strategy on one side, and the business functionality of the Business, enterprise on the other side. It often enables the wikiversity:Strategy to Execution, Strategy to Execution methodology. People who develop and maintain business architecture ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COBIT
COBIT (Control Objectives for Information and Related Technologies) is a framework created by ISACA for information technology (IT) management and IT governance. The framework is business focused and defines a set of generic processes for the management of IT, with each process defined together with process inputs and outputs, key process-activities, process objectives, performance measures and an elementary maturity model. Framework and components Business and IT goals are linked and measured to create responsibilities of business and IT teams. Five processes are identified: Evaluate, Direct and Monitor (EDM); Align, Plan and Organize (APO); Build, Acquire and Implement (BAI); Deliver, Service and Support (DSS); and Monitor, Evaluate and Assess (MEA).COBIT 2019 Framework: Introduction and Methodology from ISACA The COBIT framework ties in with COSO, ITIL, BiSL, ISO 27000, CMMI, TOGAF and PMBOK. The framework helps companies follow law, be more agile and earn more. Below ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ITIL
The Information Technology Infrastructure Library (ITIL) is a set of detailed practices for IT activities such as IT service management (ITSM) and IT asset management (ITAM) that focus on aligning IT services with the needs of business. ITIL describes processes, procedures, tasks, and checklists which are neither organization-specific nor technology-specific, but can be applied by an organization toward strategy, delivering value, and maintaining a minimum level of competency. It allows the organization to establish a baseline from which it can plan, implement, and measure. It is used to demonstrate compliance and to measure improvement. There is no formal independent third party compliance assessment available for ITIL compliance in an organization. Certification in ITIL is only available to individuals. Since 2013, ITIL has been owned by AXELOS, a joint venture between Capita and the UK Cabinet Office. History Responding to growing dependence on IT, the UK Government's Ce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Information Framework
Information FrameWork (IFW) is an enterprise architecture framework, populated with a comprehensive set of banking-specific business models. It was developed as an alternative to the Zachman Framework by Roger Evernden.Information FrameWork ''Systems Journal'' article, Roger Evernden The banking specific s are an extension to the |
