One of the often quoted examples (challenges) over business definitions is the case of gaining a common definition of the term “Customer” within an organisation. This can result in lengthy debate over whether a customer is the person who pays the bill, who recieves the goods, is a branch office of a purchasing organisation etc. etc.
A recent conversation reminded me that there is another area where there is difficulty gaining a common definition, and that is ensuring that there is a common definition of the word ‘asset’. Without common definitions, investments in data, processes and systems may be put at risk and the effectiveness of business decision making may be compromised. (more…)
