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The terms performance-based and results-based are mostly used interchangeably. The latter may signal more the achievement of broader social and economic outcomes Performance-based contracting is the term used in Australia, New Zealand and Canada to describe the practice of attaching contract payment to a set of performance metrics.
A great danger inherent in the simplification required to fit the entire economy into a model is omitting critical elements. Some economists believe that making the model as simple as possible is an art form, but the details left out are often contentious. For instance: Market models often exclude externalities such as pollution.
The seven models are: Basic Provider, Approved Provider, Preferred Provider, Performance-Based/Managed Services Model, Vested outsourcing Business Model, Shared Services Model, and Equity Partnership Model. Sourcing business models are targeted for procurement professionals who seek a modern approach to achieve the best fit between buyers and ...
Business model patterns are reusable business model architectural components, which can be used in generating a new business model. [1] In the process of new business model generation, the business model innovator can use one or more of these patterns to creating a new business model. Each of these patterns has similarities in characteristics ...
The McKinsey 7S Framework is a management model developed by business consultants Robert H. Waterman, Jr. and Tom Peters (who also developed the MBWA-- "Management By Walking Around" motif, and authored In Search of Excellence) in the 1980s. This was a strategic vision for groups, to include businesses, business units, and teams. The 7 S's are ...
VRIO (value, rarity, imitability, and organization) is a business analysis framework for strategic management.As a form of internal analysis, VRIO evaluates all the resources and capabilities of a firm.
Porter's four corners model is a predictive tool designed by Michael Porter that helps in determining a competitor's course of action. Unlike other predictive models which predominantly rely on a firm's current strategy and capabilities to determine future strategy, Porter's model additionally calls for an understanding of what motivates the competitor.
For example, if performance is in dollars, then the standard deviation is also in dollars (the variance would be in dollars squared). A downside is that the effects measured in standard deviations do not sum to 100%. An alternative measure is the sum of squares measure. It seeks to attribute squared performance difference to the different effects.