Detail: Formulate Business Concept
Establishing a viable vision and then building the strategic and tactical plans to realize that vision is the goal of this set of activities. The concept that drives your business and software development efforts must be defined and communicated to ensure success. Use the links below for an overview. For details about a role, activity, or artifact in the diagram, click on its icon.
Click the icons for definition
The purpose of this workflow detail is to:
- Define, refine or understand an Artifact: Business Concept that will increase revenues, reduce costs, or otherwise improve a business
- Evaluate the Business Concept with stakeholders
- Explore where software may enable or support the business
The Artifact: Business Concept defines the core of the business strategy — what will be offered, why, and to whom. The Business Concept outlines revenue models and cost-saving opportunities. Additionally, the concept identifies core go-to-market strategies like pricing, payment, and customer support that will secure the implementation of the concept in the market. The Business Concept sets the direction for the organization and any subsequent organizational or systems development work. The resulting direction may apply to the entire enterprise or a subset of it, depending on the project.
Developing and refining the Business Concept is done over time. In an iterative project, some of the input artifacts such as Artifact: Brand Strategy may not be available at first. Use the input artifacts as they become available.
If a clearly defined Business Concept exists and does not need to be refined, then you may perform these activities by reviewing and assimilating the business plan, competitive analysis, opportunity analysis, and other information related to the development of the Business Concept.
The Role: Business Strategist must be familiar with the industry, its trends, as well as the enterprise for which the strategy is being developed. Often, a team with skills in several disciplines is needed to develop a sound Business Concept and overall strategy. The project stakeholders have the authority to evaluate and approve the strategy. Involving stakeholders in the development and validation of the concept is critical to success.
The Role: Requirements Analyst participates in the development of the Business Concept by contributing ideas about what aspects of the business could be supported by software. The Requirements Analyst will explore features that customers or end users could access directly as well as integration with other systems. For some e-business projects, the Business Concept and its supporting software may be virtually the same. Thus, the Business Strategist and the Requirements Analyst work together to ensure a coherent vision of the Business Concept emerges. The Role: Software Architect may also participate by identifying new technologies to support the concept and evaluating the cost and feasibility of ideas from a technology perspective.
The results of these activities must be clearly communicated to the entire project team, including all stakeholders.