3The Problem with Running Business Processes “as a Monopoly”
KEY INSIGHT: Running business processes as if they were openmarket products is the key to avoiding process obsolescence.
Monopolistic business models have a harder time staying relevant and competitive over time. That’s true for business processes too. Having said that, we must acknowledge that the original state of all business processes (i.e., Stage 1) is monopolistic both in structure and in mindset. Functions like IT, finance, and HR are initially created to operate and standardize processes. They are rewarded for being the enforcers of standards and for their ability to say no to things that are different. Standardization is a vital lever for streamlining processes and reducing ...
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