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Business rules represent the primary means by which an organization can direct its business, defining the operative way to reach its objectives and perform its actions.. A rule-based approach to managing business and the information used by that business is a way of identifying and articulating the rules which define the structure and control the operation of an enterprise [1] it represents a ...
The OMG Decision Model and Notation standard is designed to standardize elements of business rules development, specially decision table representations. There is also a standard for a Java Runtime API for rule engines JSR-94. OMG Business Motivation Model (BMM): A model of how strategies, processes, rules, etc. fit together for business modeling
The rule of law is enshrined in Article 2 of the Treaty on European Union as one of the common values for all Member States. Under the rule of law, all public powers always act within the constraints set out by law, in accordance with the values of democracy and fundamental rights, and under the control of independent and impartial courts.
Commercial law (or business law), [1] which is also known by other names such as mercantile law or trade law depending on jurisdiction; is the body of law that applies to the rights, relations, and conduct of persons and organizations engaged in commercial and business activities.
Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart , who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [ 2 ]
Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations (for example, contracts between insurers and their insureds [1]), self-regulation in psychology, social regulation (e.g. norms), co-regulation, third-party regulation, certification, accreditation or market regulation.
A business rule defines or constrains some aspect of a business. It may be expressed to specify an action to be taken when certain conditions are true or may be phrased so it can only resolve to either true or false. Business rules are intended to assert business structure or to control or influence the behavior of the business. [1]
Rules of order consist of rules written by the body itself (often referred to as bylaws), usually supplemented by a published parliamentary authority adopted by the body. Typically, national, state or provincial and other full-scale legislative assemblies have extensive internally written rules of order, whereas non-legislative bodies write and ...