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To assist and guide the banking industry in achieving an architecture closely aligned with business objectives, leading banks are sharing their requirements for core services with leading software and services vendors to implement these services based on formally defined semantics.
A Business Function Model (BFM) is a general description or category of operations performed routinely to carry out an organization's mission. They "provide a conceptual structure for the identification of general business functions". [27] It can show the critical business processes in the context of the business area functions. The processes ...
Business Process Model and Notation (BPMN) is a standard for business process modeling that provides a graphical notation for specifying business processes in a Business Process Diagram (BPD), [3] based on a flowcharting technique very similar to activity diagrams from Unified Modeling Language (UML). [4]
There is a separate REA model for each business process in the company. A business process roughly corresponds to a functional department, or a function in Michael Porter's value chain. Examples of business processes would be sales, purchases, conversion or manufacturing, human resources, and financing.
John Adair's Action Centred Leadership Model. Functional leadership theory (Hackman & Walton, 1986; McGrath, 1962) is a theory for addressing specific leader behaviors expected to contribute to organizational or unit effectiveness. This theory argues that the leader's main job is to see that whatever is necessary to group needs is taken care of ...
According to each model’s proponent, the “building” of this model requires a new approach and a new way of thinking about the organization which will result in dramatic business performance improvements. This “new way of thinking” or “viewing” your organization has been generally described as business process orientation.
Researchers codified their research into a sourcing business model known as Vested Outsourcing, a hybrid sourcing business model in which buyers and suppliers in an outsourcing or business relationship focus on shared values and goals to create an arrangement that is highly collaborative and mutually beneficial to each.
TCS BaNCS is a core banking software suite developed by Tata Consultancy Services for use by retail banks. [2]It includes functions for universal banking, core banking, payments, wealth management, forex and money markets, compliance, insurance, securities processing, custody, financial inclusion, Islamic banking and treasury operations.