How would you define the following? Customer Management Agent Assignment Risk Rating Product Management Margin Determination Account Expiration Profit Determination Research Rejection Now, the hard part, does everyone in your organization define these terms and concepts in the exact same way? Most organizations have multiple definitions for most of the terms they use to describe what the business does. This is fine as along as no work, communication, information, or collaborative exchange ever extends beyond the bounds of a single business unit. In reality, no business unit is an island and the semantic disconnect found in most organizations creates a fertile ground for failed initiatives, inability to execute a merger or strategic alliance, lost revenues, …
Author
William Ulrich
A value stream depicts how “a business delivers end-to-end stakeholder value.” Because a value stream envisions value delivery across business units, product lines, and even organizational boundaries, value streams provide a way for all stakeholders to perform situation analysis, craft a common strategy, and implement that strategy based on a consensus-based solution. This is an essential planning concept when multiple, fragmented processes slow or hinder the delivery of stakeholder value. Consider, for example, a customer of one set of products or services requesting information about, or help with, a different set of products or services. It is not uncommon to find no recognition that an individual or organization is already a valued customer. Parallel, fragmented …
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