5,793 research outputs found

    Business process re-engineering (BPR): The REBUS approach

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    Many organisations undertake business process re-engineering (BPR) projects in order to improve efficiency and reduce costs. Although this approach can result in significant improvements and benefits, there are high risks associated with radical changes of business processes and the failure rate of BPR projects is reported to be as high as 70%. The Centre for Re-engineering Business Processes (REBUS) was established at Brunel University to provide a multidisciplinary environment for research into BPR and its success factors. This paper describes the REBUS approach to research concerning the success of BPR projects and presents examples of some of the projects carried out

    Tasks, cognitive agents, and KB-DSS in workflow and process management

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    The purpose of this paper is to propose a nonparametric interest rate term structure model and investigate its implications on term structure dynamics and prices of interest rate derivative securities. The nonparametric spot interest rate process is estimated from the observed short-term interest rates following a robust estimation procedure and the market price of interest rate risk is estimated as implied from the historical term structure data. That is, instead of imposing a priori restrictions on the model, data are allowed to speak for themselves, and at the same time the model retains a parsimonious structure and the computational tractability. The model is implemented using historical Canadian interest rate term structure data. The parametric models with closed form solutions for bond and bond option prices, namely the Vasicek (1977) and CIR (1985) models, are also estimated for comparison purpose. The empirical results not only provide strong evidence that the traditional spot interest rate models and market prices of interest rate risk are severely misspecified but also suggest that different model specifications have significant impact on term structure dynamics and prices of interest rate derivative securities.

    Tasks, cognitive agents, and KB-DSS in workflow and process management

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    The purpose of this paper is to propose a nonparametric interest rate term structure model and investigate its implications on term structure dynamics and prices of interest rate derivative securities. The nonparametric spot interest rate process is estimated from the observed short-term interest rates following a robust estimation procedure and the market price of interest rate risk is estimated as implied from the historical term structure data. That is, instead of imposing a priori restrictions on the model, data are allowed to speak for themselves, and at the same time the model retains a parsimonious structure and the computational tractability. The model is implemented using historical Canadian interest rate term structure data. The parametric models with closed form solutions for bond and bond option prices, namely the Vasicek (1977) and CIR (1985) models, are also estimated for comparison purpose. The empirical results not only provide strong evidence that the traditional spot interest rate models and market prices of interest rate risk are severely misspecified but also suggest that different model specifications have significant impact on term structure dynamics and prices of interest rate derivative securities.

    Redesigning work organizations and technologies: experiences from European projects

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    Currently distributed business process (re) design (resulting in components of business networks) basically relies on technical criteria. And that are the main purposes of most research projects supported by EC. Through the process of building a European Research Area, this means a strong influence in the national research programmes. However it is generally accepted that it should also take into account social criteria and aspects such as the quality of working life, or participation in decision processes. Those were some of the objectives of projects in de 80s decade, and framed some of the main concepts and scientific approaches to work organisation. The democratic participation of network and organisations members in the design process is a critical success factor. This is not accepted by everyone, but is based in sufficient case studies. Nevertheless, in order to achieve an optimization that can satisfying the requirements of agility of a network of enterprises, more complex design methods must be developed. Thus, the support to the collaborative design of distributed work in a network of enterprises, through a concurrent approaching business processes, work organisation and task content is a key factor to achieve such purposes. Increasing needs in terms of amounts of information, agility, and support for collaboration without time and space constrains, imposes the use of a computer-based model.business process; networks; decision processes; collaborative design;

    Business process modelling: potential benefits and obstacles for wider use

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    As Organisations need to adapt to new business conditions and respond to competitive pressures, various change management approaches have been developed. Many studies suggest that the success of business change projects could be increased by developing dynamic models of business processes prior to their radical change. This paper investigates a potential of simulation modelling to be used for modelling business processes and argues the case for a wider use of simulation techniques by business community. It is postulated that discrete-event simulation can be considered as a missing link between change management approaches such as Just in Time [JIT], Total Quality Management [TQM] or business process re-engineering [BPR]. The usability of simulation modelling for evaluating alternative business process strategies is investigated, and the guidelines for achieving more widespread use of business process simulation are proposed

    New business and economic models in the connected digital economy

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    This paper discusses business models as a systemic phenomenon as opposed to traditional reductionistic approaches of business disciplines. It presents the ways connectivity change economic models due to the availability of consumption data as an economic resource, markets forming at consumption spaces, and how industries could disrupt one another when connected through consumption technologies. The paper further suggests that the challenges posed by connectivity results in the redrawing of traditional firm and market boundaries. It proposes for more research into modularity, transaction costs, the future role of the firm, and the necessary transformation of businesses to stay agile in a connected digital economy

    Mapping and Developing Service Design Research in the UK.

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    This report is the outcome of the Service Design Research UK (SDR UK) Network with Lancaster University as primary investigator and London College of Communication, UAL as co-investigator. This project was funded as part of an Arts and Humanities Research Council Network grant. Service Design Research UK (SDR UK), funded by an AHRC Network Grant, aims to create a UK research network in an emerging field in Design that is Service Design. This field has a recent history and a growing, but still small and dispersed, research community that strongly needs support and visibility to consolidate its knowledge base and enhance its potential impact. Services represent a significant part of the UK economy and can have a transformational role in our society as they affect the way we organize, move, work, study or take care of our health and family. Design introduces a more human centred and creative approach to service innovation; this is critical to delivering more effective and novel solutions that have the potential to tackle contemporary challenges. Service Design Research UK reviewed and consolidated the emergence of Service Design within the estalished field of Design

    Modelling business processes with links to ISO 9001

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    Merged with duplicate record 10026.1/795 on 14.02.2017 by CS (TIS)This work in the domain of quality management and business process design looks at how the requirements of the ISO 9001 standard for quality management systems are designed and implemented in business. It is the aim of the research reported in this thesis to support manufacturing companies when modelling a Fulfil Order Process by identifying the links to the ISO 9001 quality standard and highlighting potential impact from any changes in the process or the standard during a redesign project. It does so by presenting a modelling technique, named IDEF9000, which will enable companies to take a systemic perspective of a Fulfil Order Process identifying all relevant links to ISO 9001. A research strategy based around the experiences of companies when designing business processes with links to ISO 9001 was adopted. In-depth case studies carried out by the author showed that simply documenting what an organisation does to satisfy the various elements of ISO 9001 is still one of the most common approaches adopted. This results in a process-oriented character only at the documentation stage. It is the result of limited guidance on how to integrate the requirements of ISO 900 I in business processes. The work proceeded by exploring the domains of business processes, the use of systems thinking to explain business processes and the relevance of ISO 9001 requirements from a process-based viewpoint. A set of criteria was developed to identify activities, information and other flows controlled by ISO 9001 to design a Fulfil Order Process in a manufacturing company. This provided the context for the development of the modelling technique IDEF9000, which is an enhanced version of IDEFo, and its validation by review and by use in two manufacturing companies. The originality of this work lies in the identification and emphasis by the author of the need to take a systemic view of business processes when designing or redesigning a process-based ISO 9001 quality management system. Also, criteria for a technique to address the modelling of a Fulfil Order Process were identified. Furthermore this contribution to knowledge includes the identification of links between ISO 9001 requirements and a holistic Fulfil Order Process. This led to the development of further criteria for modelling such a business process showing the links to ISO 9001. IDEF9000 represents an improved modelling approach that fulfils the identified criteria and permits the systemic design or redesign of a Fulfil Order Process while establishing the links controlled by the ISO 9001 quality standard
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