Business Modeling Quarter

Business Modeling Quarter (hereinafter, the Quarter) is the first of four lectures of Operations Quadrivium (hereinafter, the Quadrivium):

• The Quarter is designed to introduce its learners to enterprise discovery, or, in other words, to concepts related to obtaining data needed to administer the enterprise effort; and
• The Quadrivium examines concepts of administering various types of enterprises known as enterprise administration as a whole.

The Quadrivium is the first of seven modules of Septem Artes Administrativi, which is a course designed to introduce its learners to general concepts in business administration, management, and organizational behavior.

Outline

The predecessor lecture is Feasibility Study Quarter.

• Statement of work (SOW). A narrative description of products or services to be supplied under contract.
• Systematic study. Looking at relationships, attempting to attribute causes and effects, and drawing conclusions based on scientific evidence.
• Technology. The way in which an organization transfers its inputs into outputs.
• Service profit chain. The service sequence from employees to customers to profit.
• System. A set of interrelated and interdependent parts arranged in a manner that produces a unified whole.
• Business model. How a company is going to make money.
• Business plan. A written document that summarizes a business opportunity and defines and articulates how the identified opportunity is to be seized and exploited.
• Competitive advantage. What sets an organization apart; its distinctive edge.
• Competitive strategy. A corporate strategy for how an organization will compete in its business(es).
• Cost-minimization strategy. A strategy that emphasizes tight cost controls, avoidance of unnecessary innovation or marketing expenses, and price cutting.
• Disruptive innovation. Innovations in products, services, or processes that radically change an industry's rules of the game.
• Exporting. Making products domestically and selling them abroad.
• Forecast. Prediction of outcome.
• Functional strategy. A strategy used by an organization's various functional departments to support the competitive strategy.
• Open workplace. Workplace with few physical barriers and enclosures.
• Closed system. A system that is not influenced by and does not interact with its environment.
• Cloud computing. Refers to storing and accessing data on the Internet rather than a computer's hard drive or a company's network.
• Corporate strategy. An organizational strategy that determines what businesses a company is in or wants to be in, and what it wants to do with those businesses.
• Growth strategy. A corporate strategy that's used when an organization wants to expand the number of markets served or products offered, either through its current business(es) or through new business(es).
• Harvesting. Exiting a venture when an entrepreneur hopes to capitalize financially on the investment in the future.
• Imitation strategy. A strategy that seeks to move into new products or new markets only after their viability has already been proven.
• Importing. Acquiring products made abroad and selling them domestically.
• Incremental budgeting. Process starting with the current budget from which managers decide whether they need additional resources and the justification for requesting it.
• Innovation strategy. A strategy that emphasizes the introduction of major new products and services.
• Innovation. A new idea applied to initiating or improving a product, process, or service.
• Innovation. Taking creative ideas and turning them into useful products or work methods.
• Input. A variable that leads to processes.
• Internet of things. Allows everyday "things" to generate and store and share data across the Internet.
• Learning. Any relatively permanent change in behavior that occurs as a result of experience.
• Linear programming. A mathematical technique that solves resource allocation problems.
• Manufacturing organization. An organization that produces physical goods.
• Mass customization. Providing customers with a product when, where, and how they want it.
• Mass production. The production of items in large batches.
• Model. An abstraction of reality, a simplified representation of some real-world phenomenon.
• Open system. A system that interacts with its environment.
• Policy. A guideline for making decisions.
• Renewal strategy. A corporate strategy designed to address declining performance.
• Stability strategy. A corporate strategy in which an organization continues to do what it is currently doing.
• Strategic flexibility. The ability to recognize major external changes, to quickly commit resources, and to recognize when a strategic decision was a mistake.
• Strategy. The plan for how the organization will do what it's in business to do, how it will compete successfully, and how it will attract and satisfy its customers in order to achieve its goals.
• Strategic plan. A plan that applies to the entire organization and establishes the organization's overall goals.
• Vision statement. A formal articulation of an organization's vision or mission.
• Vision. A long-term strategy for attaining a goal or goals.
• Scenario. A consistent view of what the future is likely to be.
• Service organization. An organization that produces nonphysical products in the form of services.
• Sharing economy. Business arrangements that are based on people sharing something they own or providing a service for a fee.

The successor lecture is Chief Execution Quarter.