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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. For a business, it describes the specific way in which it conducts itself, spends, and earns money in a way that generates ...
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] The objective of BPMN is to support ...
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 ...
Quizlet is a multi-national American company that provides tools for studying and learning. [ 1] Quizlet was founded in October 2005 by Andrew Sutherland, who at the time was a 15-year old student, [ 2] and released to the public in January 2007. [ 3] Quizlet's primary products include digital flash cards, matching games, practice electronic ...
A system of production, resource allocation, and distribution of goods and services within a society or a given geographic area. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
Cooperative economics developed as both a theory and a concrete alternative to industrial capitalism in the late 1700s and early 1800s. As such, it was a form of stateless socialism. The term socialism, in fact, was coined in The Cooperative Magazine in 1827.[ 2] Such socialisms arose in response to the negative effects of industrialism, where ...
The Japanese word kaizen means 'improvement' or 'change for better' (from 改 kai - change, revision; and 善 zen - virtue, goodness) with the inherent meaning of either 'continuous' or 'philosophy' in Japanese dictionaries and in everyday use. The word refers to any improvement, one-time or continuous, large or small, in the same sense as the ...
A business reference model is a means to describe the business operations of an organization, independent of the organizational structure that perform them. Other types of business reference model can also depict the relationship between the business processes, business functions, and the business area’s business reference model. These ...