Addendum D: Building a Taxonomy

Introduction

A taxonomy is the name given to describe a controlled grouping of terms and language used to find and provide consistency within a specific subject field. It’s a living document that might never be considered finished because it is constantly evolving alongside of changes to business operations and functions. A good taxonomy should be flexible enough to adapt to any changes so it does not have to be re-created.

Through a taxonomy, organizations can provide their stakeholders (i.e., employees, investors, etc.) with a set of categories that are:

•  Common and support the aggregation of common information across the organization;

•  Comprehensive and thoroughly identify components of the subject field; ...

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