Business Model for Business Rules

Business rule models are widely applied, standalone and embedded in smart objects. They have become segregated from information technology and they are now a valuable asset in their own right. As more business rule models are becoming assets, business models to monetize these assets are designed. The goal of this work is to present a step towards business model classification for organizations for which its value position is characterized by business rule models. Based on a survey we propose a business model categorization that is aligned to different types of assets and business model archetypes. The results show five main categories of business models: The value adding business rule model, the ‘create me a business rule model’ business model, the KAAS business model, the bait and hook business model and the market place business model

Domain modelling and the co-design of business rules in the telecommunication business area.

This paper discusses the development of an enterprise domain model in an environment where part of the domain knowledge is vague and not yet formalised in company-wide business rules. The domain model was developed for a young company starting in the telecommunications sector. The company relied on a number of stand-alone business support systems and sought for a manner to integrate them. There was opted for the development of an enterprise-wide domain model that had to serve as an integration layer to coordinate the stand-alone applications. A specific feature of the company was that it could build up its information infrastructure form scratch, so that many aspects of its business were still in the process of being defined. The paper will highlight parts of the Enterprise Model where there was a need for co-designing business rules together with the domain model. A result of this whole effort was that the company got more insight into important domain knowledge and developed a common understanding across functional areas of the way of doing business.domain modelling; business rules; object-oriented analysis; business process modelling;

Expressing business rules : a fact based approach : a thesis presented in partial fulfilment of the requirements for the degree of Master of Philosophy in Information Systems at Massey University, Palmerston North, New Zealand

Numerous industry surveys have suggested that many IT projects still end in failure. Incomplete, ambiguous and inaccurate specifications are cited as a major causal factor. Traditional techniques for specifying data requirements often lack the expressiveness with which to model subtle but common features within organisations. As a consequence, categories of business rules that determine the structure and behaviour of organisations may not be captured until the latter stages of the systems development lifecycle. A fact-based technique called Object Role Modelling (ORM) has been investigated as an altemative approach for specifying data requirements. The technique's ability to capture and represent a wide range of data requirements rigorously, but still in a form comprehensible to business people, could provide a powerful tool for analysts. In this report, ORM constructs have been synthesised with the concepts and definitions provided by the Business Rules Group (BRG), who have produced a detailed taxonomy of business rule categories. In doing so, business rules discovered in an organisation can be expressed in a form that is meaningful to both analysts and business people. Exploiting the expressive simplicity of a conceptual modelling technique to articulate an organisation's business rules could help to fill a significant requirements gap

KWM: Knowledge-based Workflow Model for agile organization

The workflow management system (WFMS) in an agile organization should be highly adaptable to the frequent organizational changes. To increase the adaptability of contemporary WFMSs, a mechanism for managing changes within the organizational structure and changes in business rules needs to be reinforced. In this paper, a knowledge-based approach for workflow modeling is proposed, in which a workflow is defined as a set of business rules. Knowledge on the organizational structure and special workflow, such as role/actor mappings and complex routing rules, can be explicitly modeled in KWM (Knowledge-based Workflow Model). Using knowledge representation scheme and dependency management facility, a change propagation mechanism is provided to adapt to the frequent changes in the organizational structure, business rules, and procedures

Adaptive business rules framework for workflow management

Changing scattered and dynamic business rules in Business Workflow Systems has become a growing problem that hinders the use and configuration of workflow-based applications. There is a gap in the existing research studies which currently focus on solutions that are application specific, without accounting for the universal logical dependencies between the business rules and, as a result, do not support adaptation of the business rules in real time. Design/methodology/approach – To tackle the above problems, this paper adopts a bottom-up approach, which puts forward a component model of the business process workflows and business rules based on purely logical specification which allows incremental development of the workflows and indexing of the rules which govern them during the initial acquisition and real-time execution. Results – The paper introduces a component-based event-driven model for development of business workflows which is purely logic based and can be easily implemented using an object-oriented technology together with a formal model for accounting the business rules dependencies together with a new method for incremental indexing of the business rules controlling the workflows. It proposes a two-level inference mechanism as a vehicle for controlling the business process execution and adaptation of the business rules at real time based on propagating the dependencies between the rules. Originality/value –The major achievement of this research is the universal, strictly logic-based event-driven framework for business process modelling and control which allows automatic adaptation of the business rules governing the business workflows based on accounting for their structural dependencies. An additional advantage of the framework is its support for object-oriented technology which can be implemented with enterprise-level quality and efficiency. Although developed primarily for application in construction industry the framework is entirely domain-independent and can be used in other industries, too

A comparison of the real-time performance of business cycle dating methods

This paper evaluates the ability of formal rules to establish U.S. business cycle turning point dates in real time. We consider two approaches, a nonparametric algorithm and a parametric Markov-switching dynamic-factor model. In order to accurately assess the real-time performance of these rules, we construct a new unrevised "real-time" data set of employment, industrial production, manufacturing and trade sales, and personal income. We then apply the rules to this data set to simulate the accuracy and timeliness with which they would have identified the NBER business cycle chronology had they been used in real time for the past 30 years. Both approaches accurately identified the NBER dated turning points in the sample in real time, with no instances of false positives. Further, both approaches, and especially the Markov-switching model, yielded significant improvement over the NBER in the speed with which business cycle troughs were identified. In addition to suggesting that business cycle dating rules are an informative tool to use alongside the traditional NBER analysis, these results provide formal evidence regarding the speed with which macroeconomic data reveals information about new business cycle phases.Business cycles

Two-level architecture for rule-based business process management

One of the main challenges in Business Process Management (BPM) systems is the need to adapt business rules in real time. A serious obstacle is the lack of adaptable formal models for managing dynamic business rules. This is, due to the inadequacy of the models ability to describe the rule components, meta-rules, relationships and logical dependencies. To overcome this drawback, this paper presents a two-level rule-based approach to control BPM systems. The model accounts for logical representation of rules components and their relationships in Process-based Systems, as well as a method for incremental indexing of the business rules. The incremental indexing mechanism is described as an approach to control process execution and adaptation of business rules in real time based on rules propagation. Therefore this model provides a basis for an efficient and adaptable solution for managing business rules changes

A Start to finish guide to opening a bed & breakfast: The business plan.

Background Beds and breakfast are the small business component of the hotel industry. Like all types of small businesses, many fail due to poor planning or misguided management. As more new entrepreneurs enter the market due to the decline of the economy and the unreliability of corporate America, it is important to identify the proper components of a business plan for beds and breakfast and to outline a successful operations model. A study of business plan and bed and breakfast operation models is included here. Results Existing literature suggests several components of a successful business plan. These include a detailed business description, marketing plan, management model and financial projections. The literature suggests that a successful innkeeper will develop a strong and identifiable brand, focus on a memorable eating experience, execute a successful marketing plan, and enact easily understood rules of the house. A sample business plan for a bed and breakfast currently for sale in Savannah, Georgia is included in this document as a guide to potential innkeepers

Real Business Cycle Realizations

Much recent business cycle research focuses on moments of macroeconomic aggregates. We construct examples of real business cycle sample paths for output, consumption, and employment for the U.S. economy. Annual sample paths are generated from an initial condition in 1925, measured technology and government spending shocks since then, and a standard, calibrated, one-sector model of the business cycle. Quarterly sample paths are generated similarly, from an initial condition in 1955. The law of motion for shocks is not parametrized and so decision-rules are estimated by GMM. We compare the paths with actual history graphically and by spectral methods.real business cycles, Solow residuals, US business cycle history