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Sometimes the term business life cycle is used interchangeably with the organizational life cycle, while the two are different. The organizational life cycle is a more inclusive term for all kinds of organizations which includes even government organizations , but the business life cycle refers more specifically only to for-profit companies .
The enterprise life cycle is a key concept in enterprise architecture (EA), enterprise engineering [2] and systems engineering. [3] The Enterprise Architecture process is closely related to similar processes, as program management cycle or systems development life cycle, and has similar properties to those found in the product life cycle. [4]
Each industry has several life-cycle models to consider, but most are relatively similar. Below is one possible life-cycle model; while it emphasizes hardware-oriented products, similar phases would describe any form of product or service, including non-technical or software-based products: [16]
Major adjustments and reevaluations would return the OD project to the first, or planning, a stage for basic changes in the program. The action-research model shown in Figure 1 closely follows Lewin's repetitive cycle of planning, action, and measuring results. It also illustrates other aspects of Lewin's general model of change.
A systems development life cycle is composed of distinct work phases that are used by systems engineers and systems developers to deliver information systems.Like anything that is manufactured on an assembly line, an SDLC aims to produce high-quality systems that meet or exceed expectations, based on requirements, by delivering systems within scheduled time frames and cost estimates. [3]
Enterprise modelling is the process of building models of whole or part of an enterprise with process models, data models, resource models and/or new ontologies etc. It is based on knowledge about the enterprise, previous models and/or reference models as well as domain ontologies using model representation languages. [3]
Image source: The Motley Fool. Proto Labs (NYSE: PRLB) Q4 2024 Earnings Call Feb 07, 2025, 8:30 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call ...
Business process management (BPM) is the discipline in which people use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes. [1] [2] Any combination of methods used to manage a company's business processes is BPM. [3] Processes can be structured and repeatable or unstructured and variable.