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An operating model can describe the way an organization does business today – the as is. It can also communicate the vision of how an operation will work in the future – the to be. In this context it is often referred to as the target operating model, which is a view of the operating at a future point in time.
Business model innovation is an iterative and potentially circular process. [1] A business model describes how an organization creates, delivers, and captures value, [2] in economic, social, cultural or other contexts. The model describes the specific way in which the business conducts itself, spends, and earns money in a way that generates profit.
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 ...
The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
e. Business operations is the harvesting of value from assets owned by a business. Assets can be either physical or intangible. An example of value derived from a physical asset, like a building, is rent. An example of value derived from an intangible asset, like an idea, is a royalty. The effort involved in "harvesting" this value is what ...
e. A business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels ...
Operational excellence. Operational excellence refers to the systematic implementation of principles and tools designed to enhance organizational performance and create a culture focused on the continuous improvement. It enables employees at all levels to identify, deliver, and enhance the flow of value to customers.
In application, business architecture provides a bridge between an enterprise business model and enterprise strategy on one side, and the business functionality of the enterprise on the other side. It often [quantify] enables the Strategy to Execution methodology. People who develop and maintain business architecture are known as business ...