25 May 2016

Strategic Management: Business Model (Definitions)

"A high-level visual representation of how an organization serves, or intends to serve, its customers and stakeholders." (Bettina M Davis & Wendy L Combsand, "Demystifying Technical Training: Partnership, Strategy, and Execution", 2009)

"A current or future state representation of some aspect of an enterprise, typically from a process, data, geographic, event, organizational or financial perspective." (DAMA International, "The DAMA Dictionary of Data Management", 2011)

"A method by which a company generates revenue to sustain itself." (Linda Volonino & Efraim Turban, "Information Technology for Management" 8th Ed., 2011)

"A set of choices that ultimately describes an organization's logic, from how it operates to the way it creates and captures value, including economic or social value." (David K Pham, "From Business Strategy to Information Technology Roadmap", 2016)

"Colloquial term used to express how an organisation seeks to turn a profit or create added value. It describes the structure linking intended strategy, its operational and functional requirements and anticipated performance. There are many types of business model but they can be classified into one-sided, multi-sided/platform, social and collective." (Duncan Angwin & Stephen Cummings, "The Strategy Pathfinder" 3rd Ed., 2017)

"The specific way in which a business is organized to generate revenue and profits in a sustainable manner." (Pamela Schure & Brian Lawley, "Product Management For Dummies", 2017)

"A set of choices that ultimately describes an organization's logic, from how it operates to the way it creates and captures value, including economic or social value." (Tiffany Pham et al, "From Business Strategy to Information Technology Roadmap", 2018)

"The overall logic of a business and the basis on which it generates revenues and profits." (Robert M Grant, "Contemporary Strategy Analysis" 10th Ed., 2018)

Strategic Management: Value Stream Mapping (Definitions)

"A process improvement tool that is used in lean manufacturing. The value stream map captures processes, material flows of a given product family and helps to identify waste in the system." (Bimal P Nepal & Leslie Monplaisir, "Lean and Global Product Development in Auto Industry", 2009)

"Value Stream Mapping (VSM) is one of the most known lean methods to analyze the current state of a production and to visualize and design a future state map. The VSM method is based on the use of specific symbols and icons for the visualization of the production sequences." (Dominik T Matt & Erwin Rauch, "Implementing Lean in Engineer-to-Order Manufacturing: Experiences from a ETO Manufacturer", 2014)

"A way to keep track of goods and material as they move through the product-creating process that helps a business boost productivity and reduces wastes." (Kijpokin Kasemsap, "Applying Lean Production and Six Sigma in Global Operations", 2016)

"A method to keep track of products and material as they move through the product-creating process that helps a business enhance productivity and reduce wastes." (Kijpokin Kasemsap, "Lean Thinking in Global Health Care: Theory and Applications", 2017)

"Value stream mapping is a technique used to analyze the flow of materials, services and information required to bring a service to a consumer." (Parminder Singh Kang et al, "Continuous Improvement Philosophy in Higher Education", 2020)

"Is a lean management technique for analyzing, designing, and managing the flow of data and information from an end-customer perspective to achieve value for them." (Anna Wiedemann et al, "Transforming Disciplined IT Functions: Guidelines for DevOps Integration", 2021)

"A pencil-and-paper tool used in two stages: a) Follow a product’s production path from beginning to end and draw a visual representation of every process in the material and information flows. b) Then draw a future state map of how value should flow. The most important map is the future state map." (Lean Enterprise Institute)

"Value stream mapping (VSM) is the process of charting out or visually displaying a value stream so that improvement activity can be effectively planned." (Gartner)

24 May 2016

Strategic Management: Value Stream (Definitions)

"A value stream is a set of actions needed to bring a product to an organization's customers." (Andrew Pham et al, "From Business Strategy to Information Technology Roadmap", 2016)

"A value stream is a sequence of activities needed to design, produce and provide a specific service and along which information, material and value flow. A value chain is a set of linked activities that transform inputs into outputs that in turn add to at least one of the ecological, societal or economic bottom lines and help create competitive advantages. Linked to Six Sigma and Lean methodologies the goal is to create sustainable competitive advantages." (Rick Edgeman, "Lean and Six Sigma Innovation and Design", Encyclopedia of Information Science and Technology, Fourth Edition, 2018)

"Value Streams represent the series of steps that an organization uses to build Solutions that provide a continuous flow of value to a Customer. " (Dean Leffingwell, "SAFe 4.5 Reference Guide: Scaled Agile Framework for Lean Enterprises" 2nd Ed., 2018)

"A sequence of processes through which a product follows all the steps necessary for transformation and delivery to the customer." (Sorinel Căpușneanu et al, "Throughput Accounting: Decisional Informational Support for Optimizing Entity Profit", 2019)

"The set of all steps from the start of value creation until the delivery of the end result to customer." (Semra Birgün & Zeynep Altan, "A Managerial Perspective for the Software Development Process: Achieving Software Product Quality by the Theory of Constraints", 2019)

"All activities, both value added and non value added, required to bring a product from raw material into the hands of the customer, a customer requirement from order to delivery, and a design from concept to launch. Value stream improvement usually begins at the door-to-door level within a facility, and then expands outward to eventually encompass the full value stream." (Lean Enterprise Institute)

"An operating unit that controls one or more production flows." (Microsoft, "Dynamics for Finance and Operations Glossary")

"The value stream is defined as the specific activities within a supply chain required to design, order and provide a specific product or service." (Gartner)

05 May 2016

Strategic Management: Value Proposition (Definitions)

"The benefit received for the investment made." (Janice M Roehl-Anderson, "IT Best Practices for Financial Managers", 2010)

"A three- to five-sentence statement that conveys to customers the value and benefits that a business brings to them. The value proposition should convey why the customer should purchase that business’s products and services over the competition’s." (Gina Abudi & Brandon Toropov, "The Complete Idiot's Guide to Best Practices for Small Business", 2011)

"The analysis of the benefits of using the specific model (tangible and intangible), including the customers' value proposition." (Linda Volonino & Efraim Turban, "Information Technology for Management" 8th Ed., 2011)

"The promise of value to be delivered by an organization. Typically addresses which customer needs the organization will meet and how it will price its offerings." (Andrew Pham et al, "From Business Strategy to Information Technology Roadmap", 2016)

"A statement about how customers will benefit from a product or service." (Duncan Angwin & Stephen Cummings, "The Strategy Pathfinder" 3rd Ed., 2017)

"A statement of the value that your product brings to your customer. The main reason that a customer should buy from you." (Pamela Schure & Brian Lawley, "Product Management For Dummies", 2017)

"A short statement (pre-project) that describes the tangible results or value a decision maker can expect from implementing a recommended course of action and its resulting benefit to the organization. It is expressed in a quantified fashion in the Business Case, where Value = Benefits – Cost (where Cost includes Risk). (See Business Case.) Vision Statement: It provides a view of the future desired state or condition of an organization. (A vision should stretch the organization to become the best that it can be.) The Vision Statement provides an effective tool to help develop objectives." (H James Harrington & William S Ruggles, "Project Management for Performance Improvement Teams", 2018)

"A statement that identifies clear, measurable, and demonstrable benefits consumers get when buying a particular product or service. It should convince consumers that this product or service is better than others on the market." (William Stallings, "Effective Cybersecurity: A Guide to Using Best Practices and Standards", 2018)

"The promise of value to be delivered by an organization. Typically addresses which customer needs the organization will meet and how it will price its offerings." (Tiffany Pham et al, "From Business Strategy to Information Technology Roadmap", 2018)

Strategic Management: Risk Register (Definitions)

"A record of a company’s risks." (Annetta Cortez & Bob Yehling, "The Complete Idiot's Guide® To Risk Management", 2010)

"The document containing the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. The risk register details all identified risks, including description, category, cause, probability of occurring, impact(s) on objectives, proposed responses, owners, and current status." (Project Management Institute, "Practice Standard for Project Estimating", 2010)

"Formal document and management tool that records all risks identified by the project team, along with the team’s assessment of the risks, plans to manage the risks, and progress against the plans." (Mike Clayton, "Brilliant Project Leader", 2012)

"A document in which the results of risk analysis and risk response planning are recorded." (For Dummies, "PMP Certification All-in-One For Dummies" 2nd Ed., 2013)

"A documented collection of the risks impacting an activity or organization." (Sally-Anne Pitt, "Internal Audit Quality", 2014)

"A record of information about identified risks." (David Sutton, "Information Risk Management: A practitioner’s guide", 2014)

"Formal record of identified risks." (Chartered Institute of Building, "Code of Practice for Project Management for Construction and Development" 5th Ed., 2014)

"A repository in which outputs of risk management processes are recorded." (Project Management Institute, "A Guide to the Project Management Body of Knowledge (PMBOK® Guide )", 2017

"A component that captures details of individual project risks, including a list of identified risks, potential risk owners, and potential risk responses." (Cate McCoy & James L Haner, "CAPM Certified Associate in Project Management Practice Exams", 2018)

"A document in which the iterative results of the risk identification, risk analysis, and risk response planning processes are recorded." (H James Harrington & William S Ruggles, "Project Management for Performance Improvement Teams", 2018)

"A record of information about identified risks." (ISO Guide 73:2009)

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