Why Every Management Professional Will Use CBMK

1.        Earlier we have proved beyond the reasonable doubt that every organization – business, government entity, NGO, investment manager, management consultant, etc. will adopt CCTT

2.        Therefore, every corporate employee – manager or professional – will manage certain objects and processes in his/her responsibility areas. With the ultimate objective of maximizing the performance of these objects and processes and their synergy with other corporate objects

3.        To accomplish this objective, the corporate employee in question will need at his/her fingertips knowledge and guidelines on maximizing the performance of these objects and processes and their synergy with other corporate objects. At all times

4.        To provide corporate managers with this knowledge and guidelines, CCTT includes the appropriate knowledge base – Comprehensive Body of Managerial Knowledge (CBMK). Centered around Standard Corporate Objects Repository (SCORE) with the corporate cockpit – type interface

5.        CBMK is intended to serve as a tutorial, textbook and everyday reference for management professionals. It is based on SCORE and includes – for every standard corporate object – core and supplementary knowledge sections. It was designed to provide object manager with all knowledge and guidelines he/she will ever need to manage the object in question – measure and maximize its performance

6.        Core object knowledge sections include a comprehensive object management guide, KPI for the object in question; frequently asked question (FAQ) about managing this object; Comprehensive Performance Audit Questionnaire (CPAQ) for the object in question; glossary of object-related terms and templates for documents used in the process of managing the object in question

7.        Supplementary object knowledge sections include object – related articles/papers; software for object management;  books on managing the object in question; object-related case studies; contact information on experts in object management; education programs (academic and short-term) and other resources on object management

8.        CBMK is not set in stone. Instead, it is more like a living organism and thus must be constantly evolving and improving. Which requires acquisition and analysis of extensive user feedback – from corporate managers and professionals, entrepreneurs, investors, management consultants, systems integrators, software vendors, management instructors, etc. To make it possible, CBMK is offered as an Internet site – CBMK portal – available to all corporate management professionals worldwide, and including extensive comment and discussion tools, forums, social network, etc. 

Why Every Investment Manager Will Adopt CCTT

To put it simply, every venture- and direct/private investment manager will adopt CCTT because the latter will radically increase return on their investments.

More specifically:

1.        Investment management is all about managing knowledge (gathering, uncovering, synthesizing, structuring, etc.) about investment targets and using this knowledge to make investment decisions with the ultimate objective of maximizing return on these investments. Active investors use this knowledge to make corrective actions in managing their investments. The more efficient are their knowledge management tools and technologies, the more efficient is their investment management and the higher is their investment return.

2.        CCTT makes it possible to build a truly comprehensive knowledge base on potential investment targets and provides a uniform an easy-to-use interface into this knowledge base. Which allows investors to make much more informed investment decisions. Which, in turn, radically increases the quality of these decisions and thus the return on these investments.

3.        With CCTT (more specifically, SCORE), instead of a ‘classic’ business plan, an entrepreneur will be able to develop a comprehensive blueprint for his/her business venture – complete with all key corporate objects, processes, KPI, documents, etc. Compared to the ‘classic’ business plan, this blueprint is radically more comprehensive and far easier for the venture- or direct equity investor to analyze and make much more informed venture investment decisions.

4.        CCTT will make it possible to form a partnership between company owners and managers, venture/direct equity investoWhy Every Investment Manager Will Adopt CCTT8.        CCTT will significantly decrease risks and increase returns on venture- and direct investment management. Therefore, more money will flow into venture- and direct equity investment funds which will make a significant – and positive – impact on new business development and GDP growth.

9.        This will create a skyrocketing demand for investment editions of CCTT (including the Sophie software) and for CCTT-literate investment professionals – as well as for CCTT-based education and training programs in investment management.

Why Every Management Consultant Will Adopt CCTT

In short, every management consulting company (general and specialized, multinational and boutique) will adopt CCTT to radically increase their revenues, profits, cash flow and shareholders’ value. Opportunities too good (and too dangerous) to pass. Because those management consultants that do not adopt CCTT, will sooner or later go out of business losing to those who will adopt. And more likely sooner than later.

More specifically:

1.        In the previous section we proved beyond the reasonable doubt that every organization – commercial, government, NGO, etc. – will adopt CCTT as these tools and technologies make it possible to make a quantum leap in aggregate corporate performance. And for business entities – in their revenues, profits, cash flow and shareholders’ value.

2.        If an organization does not deploy CCTT and make a quantum leap in aggregate corporate performance, its will be either acquired by its rival that will or simply go out of business – due to an inevitable enormous productivity gap. As usual, businesses will be followed by government entities - at federal, state/provincial and local levels, NGO/NCO, academic institutions and other categories of organizations.

3.        Which automatically creates an enormous and global demand for CCTT and CCTT-based services – CPA, SCR and deployment of comprehensive corporate cockpit solutions. Organizations themselves possess neither the human resources nor the competencies required for CCTT adoption and making the quantum leap in aggregate corporate performance. Hence, they will need the services of management consulting companies – both strategic and specialized.

4.        Due to enormous switching costs, organizations will form strategic partnerships with strategic management consulting companies (one-stop-shops) capable of providing comprehensive ‘quantum leap’ corporate cockpit solutions. Creating lifetime ‘cash cows’ for their strategic partners – these solutions have to be periodically fine-tuned and adapted to inevitable changes in the external environment.

5.        Full-service management consultants will subcontract parts of comprehensive corporate performance maximization projects to specialized (‘niche’ consulting companies). Naturally, to stay in business, these niche players will have to use corporate cockpit tools & technologies in performing their services.

6.        This will create enormous global opportunities for management consulting companies to radically increase their revenues, profits, cash flow and shareholders’ value. Opportunities too good and too dangerous to pass.

7.        In other words, opportunities for exponential wildfire-like growth – both domestically and internationally. By (a) acquiring new clients and forming lifetime strategic partnerships with them and (b) acquiring rivals who do not adopt CCTT fast enough. In other words, those management consultants that do not adopt CCTT, will sooner or later go out of business losing to those who will adopt. And more likely sooner than later.

8.        Radical restructuring of an industry caused by introduction of fundamentally new products and technologies inevitable results in a significant consolidation of the industry in question. Therefore, we will inevitably see a lot of M&A in the management consulting industry – both domestic and cross-border. Both vertical – with strategic management consulting (SMC) powerhouses acquiring specialized (‘niche’) consulting companies and horizontal – with larger and stronger SMC acquiring smaller and weaker ones.

As successful quantum leap (CBA/SCR) consulting projects require deployment corporate cockpit software solutions, management consulting companies will have to merge with systems integrators offering Sophie-based software/information technology solutions. Or develop Sophie-deployment capabilities themselves. For all practical purposes, it will mean that ‘pure’ management consulting industry will cease to exist. Instead, it will be merged with a part of systems integration industry.

Why Every Entrepreneur & Startup Will Adopt CCTT

To put it simply, every entrepreneur and startup will adopt CCTT because this will (a) radically improve chances of the startup in question to survive and (2) make it no less radically easier for the entrepreneur in question turn his or her business idea into a powerful money-making machine.

Currently, an entrepreneur attempts to accomplish this objective either by himself/herself (using his/her own savings and/or loans from banks or other creditors) or by partnering with a venture investor that provides the necessary startup capital. Using available corporate engineering technologies. That leave a lot to be desired in terms of effectiveness and efficiency. Hence, startup failure rate is currently very high (according to The Wall Street Journal, 75-90%).

CCTT will radically changes this unattractive picture. More specifically:

1.        With CCTT (more specifically, SCORE), instead of a ‘classic’ business plan, an entrepreneur in question will be able to develop a comprehensive blueprint for his/her business venture – complete with all key corporate objects, processes, KPI, documents, etc. And to subsequently use this blueprint for building (‘engineering’) a powerful money-making machine from his/her original business idea

2.        Compared to the ‘classic’ business plan, this blueprint is radically more comprehensive and far easier for the venture investor to analyze and make a much better informed venture investment decision.

3.        Entrepreneur, his/her management and employees, venture investors (if any) and outside consultants will then use this blueprint to engineer and build an actual money-making machine (business system). During this process, the original blueprint will be transformed into a comprehensive corporate cockpit solution for the actual company in question (including a comprehensive corporate knowledge base and its interface – the corporate cockpit proper).

4.        Both the original corporate blueprint and the actual corporate cockpit solution present far more comprehensive and realistic picture of the company in question than the ‘classic’ business plan or information memorandum and therefore radically decrease investment and business risks

5.         Entrepreneur, his/her management and employees, venture investors (if any) and outside consultants will then use this solution to maximize the aggregate performance of the business venture and thus its intrinsic financial value – at all times.

6.        CCTT – due to their uniform and comprehensive nature -  will make it radically faster and easier to adapt both the original blueprint and actual corporate structure to ever-changing external environment

7.        At the exit stage (IPO or strategic sale) CCTT-based corporate map provides the buyer with much more comprehensive and realistic picture of the company in question. Which radically decreases buyer’s risks and, therefore, no less significantly increases the IPO/M&A price and, therefore, ROI for the entrepreneur and the venture investor

8.        All of the above will inevitably result in a dramatic increase in a startup survival rate (from current 10-25% to 75% and quite possibly even 90%). With the corresponding no less dramatic drop in a waste of money, effort and other resources – and the corresponding highly beneficial impact on global economic growth.

9.        Startups are not limited to the business world; you can find them everywhere – in government (new agencies at the local, state/provincial and federal level); NGO/NCO – new organizations; academia – new universities, institutes, research outfits, etc. These startup also suffer a high failure rate and thus will benefit significantly from CCTT – for much of the reasons presented above. With further no less dramatic drop in a waste of money, effort and other resources – and the corresponding highly beneficial impact on global economic growth.

Why Every Organization Will Adopt CCTT

To put it very simply, every organization will adopt CCTT because the latter will (1) make it possible for the organization in question to make much bigger quantum leap in corporate performance than any other corporate management technology and (2) because it will solve all key corporate management problem much better than any competitor.

More specifically:

1.        Total corporate transparency. CCTT will make all corporate objects and processes visible and measurable to managers and professionals responsible for the corresponding objects. Which will immediately allow to measure and maximize the performance of every corporate object and process; synergy between objects and thus the aggregate performance of the whole organization. As well as radically reduce waste and fraud.

2.        Truly lean organization. CBA and SCR will ensure that the organization in question possesses only the objects (brands, products, employees, assets, functional units, documents, etc.) absolutely necessary and sufficient for maximization of its corporate performance and none of the unneeded ones. Which is exactly the definition of a truly lean organization.

3.        Comprehensive corporate knowledge base. By attaching corporate documents and queries to corresponding objects, CCTT makes sure that only those are stored and disseminated that are both necessary and sufficient for maximizing aggregate corporate performance. Which takes care of both problems that plague practically every corporate information system: (a) ‘information lacunas’ – lack of necessary information and (b) ‘information noise’ – overloading corporate managers and employees with unnecessary information.

4.        Corporate cockpit proper.  CCTT provides every corporate employee (manager and professional) with a uniform and easy access (via corporate cockpit on a computer screen) to all knowledge and tools that they need to maximize their performance in the corresponding responsibility areas.

5.        Perfect horizontal and vertical coordination of activities in the organization. CCTT make sure that activities of all of corporate employees are properly coordinated by (a) placing on every computer screen the ‘big corporate picture’ – the general corporate objects map and (b) integrating object performance improvement plans (and thus activities of individual managers and specialists) into a comprehensive corporate operational plan. The ‘big corporate picture’ ensures that every corporate employee sees (a) the big picture; (b) his/her place in this picture and (c) his/her relationships and dependencies on his/her colleagues.

6.        Radically improved employee evaluation and motivation system. CCTT allow to both collect, structure and make available a comprehensive information of employee ‘buttons’ and on the objects (and their KPI) in responsibility areas of an employee in question. This knowledge allows to develop and implement a highly personalized evaluation, compensation and motivation system for every corporate employee. Such a system will ensure maximization of the performance of every manager and specialist in the organization.

7.        Elimination of the ‘Babylon effect’. CCTT ensures that managers and professionals from all functional areas in an organization (marketing, finance, operations, personnel, IT, etc.) speak the same language based on the key concepts of corporate objects, processes, KPI, stakeholders and performance by implementing a uniform corporate cockpit solution for every functional area based on CCTT and exactly these concepts

8.        ‘Happy organization’. CCTT will make it possible to identify the aggregate needs – financial, functional and emotional – of all corporate stakeholders (owners/investors, clients/customers, suppliers, partners, etc.) and build a corporate structure (objects and processes) that will satisfy these needs to the fullest. Which is the practical definition of happiness. Therefore, the organization in question will make all of its stakeholders happy and thus will have the right to be called a ‘happy organization’.

What is Radically New in CCTT

1.        Radically new ‘aircraft’ paradigm (see above)

2.        Object-oriented approach. This approach has been very successfully used for many decades for software development and later for information systems analysis and design. In CCTT, it is no less successfully used for analysis and reengineering of complex corporate (organization) systems

3.        Structuring. CCTT offers a unique way to structure corporate objects (using visual diagrams – ‘corporate objects maps’ and ‘corporate process maps’); corporate processes (attached to the corresponding objects in full compliance with the object-oriented approach); corporate KPI and corporate documents (both actual documents and SQL, data mining and ‘big data’ queries). Like processes, documents and KPI are structured around the corresponding objects.

4.        Stakeholders and aggregate value. CCTT explicitly recognizes that an organization can operate at its top performance only if it satisfies the aggregate needs – financial, functional and emotional – of its stakeholders (owners/founders, clients/consumers, employees, suppliers, partners, government entities, etc.). And offers tools and technologies for measuring and maximizing the aggregate value – financial, functional and emotional – created for its stakeholders.

5.        Synergy. CCTT offers tools & procedures for measuring and maximizing synergy between corporate objects

6.        Comprehensive corporate performance analysis (CCPA). CCTT offers tools & procedures for conducting a comprehensive performance analysis for each corporate object: process; synergy between objects and for the whole organization in question. These tools include comprehensive performance analysis questionnaire (CPAQ), aggregate performance scorecard (APS) and KPI Scorecard (KPIS).

7.        Strategic corporate reengineering (SCR). CCTT offers tools & procedures for performing a comprehensive SCR aimed at maximizing aggregate corporate performance – including tools for designing an optimal corporate structure (‘TO BE’) and developing and modifying reengineering plans – financial and operational.

8.        Comprehensive corporate knowledge base. CCTT offers tools & technologies for building a truly comprehensive corporate knowledge base (CCKB) that includes both structured and unstructured data – as well as ‘regular’ and ‘big’ data. CCKB can then be accessed via an easy-to-use uniform interface (corporate cockpit proper).

9.        Standard Corporate Objects Repository (SCORE). CCTT offers type- and industry-specific standard repositories of corporate objects, processes and their KPI. These repositories can then be used for conducting a CCPA and SCR and then for developing and executing performance maximization plans.

10.     Corporate Cockpit proper. CCTT offers a software product – codenamed Sophie – that makes it possible to provide every corporate employee (manager and professional) with a uniform and easy access to all knowledge and tools that they need to maximize their performance in the corresponding responsibility areas. From the software standpoint, this product – when deployed – supplies each manager and professional in an organization with his or her own corporate cockpit provided according to an all-important ‘need-to-know-principle’.

11.     ‘Happy organization’. By definition, happiness is the state, in which all aggregate needs – financial, functional and emotional – are completely satisfied. CCTT – using their Stakeholders’ Relationships Management (SRM) make it possible to uncover and satisfy these needs to the maximum possible extent thus making all of its stakeholders happy. And, therefore, to transform the entity in question into a happy organization. 

Corporate Cockpit - Executive Summary

1.        Every organization in the world – business, government entity, NGO, etc. in the world will deploy and use the Corporate Cockpit solution for both strategic and day-to-day operations.

2.        Every corporate management professional worldwide will use the Common Body of Managerial Knowledge (CBMK) portal as both a textbook and a reference-book on a daily basis

3.        Every organization that adopts CCTT (Corporate Cockpit Tools & Technologies) will make a quantum leap in aggregate corporate performance (up to an order of magnitude) and keep operating at the maximum possible performance (by implementing the kaizen principle). Those that do not adopt CCTT, will either cease to exist (businesses and NGO) or will be forced to adopt CCTT (government)

4.        Every entrepreneur and startups will use CCTT to very efficiently transform a business idea into a powerful money-making machine by engineering the optimal corporate structure and corporate performance measurement and maximization system. Which will drastically increase startup survival rate, lower startup business risks and thus radically increase the number of entrepreneurs and startups and the amount of money available for startup financing. Which will significantly increase economic growth – worldwide.

5.        Every management consulting company will use CCTT to conduct management consulting projects aimed at maximizing aggregate corporate performance. CCTT will radically increase the efficiency of such projects – a comprehensive corporate performance analysis followed by a strategic corporate reengineering and deployment of a CCTT-based kaizen system which will ensure corporate performance maximization at all times.

6.        Every venture- and direct investment fund will use CCTT to both analyze potential investment targets and maximize financial value of its portfolio companies. CCTT will make it possible to make a much more informed and overall better investment decisions and to maximize performance of portfolio companies. Which will no less radically decrease risks increase the returns on venture- and direct equity investments.

7.        All management education programs in every academic and commercial institution will be built around a CCTT-based Common Body of Managerial Knowledge (CBMK). Which will radically increase the efficiency and practical value of management training – worldwide.

8.        With CCTT, organizations will be able to give every corporate manager and specialist an easy and uniform access to all corporate knowledge he/she needs to maximize his/her performance in corresponding responsibility areas. This knowledge will reside in a truly comprehensive corporate knowledge base accessible via a uniform interface – the corporate cockpit proper – on an all-important ‘need-to-know’ basis.

9.        All corporate information systems will be built around a next-generation ERP-system – the Enterprise Objects Management System (EOMS). EOMS vendor – most likely Oracle Corporation – will become a natural monopoly in the ERP systems market

10.     Hence, CCTT will significantly increase the amount of economic value in the global economy. And no less significantly decrease global and local economic risks (especially those of large-scale financial and economic crises). Which will significantly increase economic growth and prosperity – worldwide.

11.     CCTT will become a natural monopoly in the area of corporate management technologies

Corporate Cockpit White Paper

http://www.mediafire.com/view/y6qwp5cef2544od/WPCC.pdf

Key Statements on Corporate Cockpit

1.        Corporate Cockpit Technologies & Tools (CCTT) have been developed with but one objective in mind – to help organizations worldwide – businesses, government entities, NGO, etc. – make a quantum leap in their corporate performance (preferably, by the order of magnitude).

2.        CCTT are based of 15 year – long research in corporate management technologies which resulted in a fundamental discovery: any organization (business enterprise, government entity, NGO/NCO, academic institution, etc.) is conceptually identical to an aircraft. Indeed, an aircraft has components, physical processes, passengers, pilots, technicians, regulators and airport authorities – an organization has corporate objects and processes; clients and other stakeholders; managers and specialists. An aircraft has a ‘glass cockpit’ for its pilots; an organization has a personalized ‘corporate cockpit’ for each manager and specialist.

3.        CCTT include a comprehensive performance analysis questionnaire for each corporate object, process and their synergy; standard repository of corporate objects, processes and their KPI; corporate objects’ and process maps; comprehensive object analysis scorecards, object KPI scorecards integrated into Sophie software product.

4.        These tools and technologies allow corporate managers and consultants to make a quantum leap in corporate performance by (a) conducting a comprehensive corporate performance analysis; (b) performing a strategic corporate reengineering of an organization in question and (c) set up a permanent improvement (kaizen) that ensures that this organization always operates at the highest possible efficiency.

5.        More specifically, CCTT make it possible to identify missing and excessive corporate objects; structure objects and processes in the most coherent and uniform way; develop a comprehensive corporate cockpit solution based on a comprehensive corporate knowledge base; ensure that every corporate object and process operates at the highest possible efficiency and that the synergy between corporate objects is maximized; make sure that managers and professionals in all functional areas speak the same language and that their decisions and actions are perfectly coordinated

6.        Arguably the most significant impact of CCTT on corporate management worldwide is establishment of a natural monopoly on corporate management technologies. In this particular context, natural monopoly means that it makes practical (operational and economic) sense to have just one such system to be used by organization and management consultants to make a quantum leap in corporate performance via CBA and SCR.

7.        CCTT will produce a profound, global and very positive impact on corporate management: radically increase corporate transparency; dramatically reduce fraud and waste of valuable resources; transform corporate entities into truly lean organizations; radically improve employee evaluation and motivation systems; achieve a perfect match between abilities and responsibilities of corporate employees and ultimately build ‘happy organizations’

8.        CCTT impact on global economy will also be profound and very positive: CCTT will enable a radical improvement in satisfaction of needs of individuals and organizations and a radical improvement in utilization of valuable resources – financial, material, human, etc. Which will lead to a significant increase in global GDP; a no less significant reduction in unemployment, budget deficit and government debt and will even help to prevent financial and economic crises in individual nations and in a global economy.

9.        In addition to corporate management and the global economy, CCTT will make a global, profound and very positive effect on other areas and industries: entrepreneurs & startups, management consulting, investment management, information & knowledge management technologies and management education. 

Corporate Cockpit Impact on the Global Economy

CCTT will make a tremendous – and very positive! – impact on a global economy:

1.        Radical improvement in needs satisfaction. The fundamental objective of a global economy is to satisfy the needs – financial, functional and emotional – of individuals worldwide by providing these individuals with the corresponding products and services. Currently the world is not transparent enough for organizations – businesses, government entities, NGO, etc. – to have the knowledge of these needs to satisfy them to the fullest possible extent. CCTT will make this world radically more transparent which will allow organizations to get a much better understanding of these needs and therefore to satisfy them to much better extent.

2.        Radical improvement in utilization of resources.  Even when organizations do know the needs of their clients/customers (and other corporate stakeholders), they still need to use their resources (financial, material, human, etc.) efficiently to satisfy these needs – in order to avoid waste of valuable resources. Unfortunately, organizations have three major problems - inefficient corporate structure (missing and excessive objects, etc.), inefficient objects and processes and low synergy between corporate objects – that cause enormous waste of these resources. CCTT solve these problems by (a) making it possible to develop (via CBA and SCR) optimal corporate structure and (b) maximizing both the performance of individual objects and processes and their synergy – and thus radically decreasing waste of valuable resources and radically improving their utilization.

3.        Significant increase in GDP worldwide. Radical improvement in satisfaction of needs of individual and a drastic reduction of waste of valuable resources will no less radically increase economic value, created in the global economy. In other words, GDP worldwide. In still other words, it will speed up economic growth worldwide.

4.        Significant reduction in budget deficit and government debt. Economic growth means higher profits for businesses and higher incomes for employees. Which means more taxes for the government – local, state/provincial and federal. Which will reduce budget deficit and the need for the government to borrow money. And if the government runs budget surplus, it will give it more financial resources to pay off its debt

5.        Significant reduction in unemployment. Reduction of waste means that organizations will have more financial resources to expand their operations. Which means that they will need more employees. And more employees means less unemployment. Worldwide.

6.        Prevention of future economic crises. Thorough analysis of global financial and economic crises demonstrates that they were caused by (a) insufficient or incorrect knowledge by decision-makers in business and government about macroeconomic situation; (b) bad analysis of information and knowledge that they did have;  (c) bad decisions by top managers of business, government and self-regulating bodies and (d) poor execution of good decisions. These were, in turn, caused by the ‘usual culprits’ – inefficient corporate structures; low efficiency of corporate objects and processes; low synergy between corporate objects and very low efficiency of corporate information/knowledge management systems. CCTT will remedy this dire situation and prevent future economic crises by (a) making it possible to develop (via CBA and SCR) optimal corporate structure; (b) maximizing both the performance of individual objects and processes and their synergy and (c) develop a comprehensive corporate knowledge base. Which will radically improve macroeconomic knowledge as well as quality of making and executing corporate decisions. 

Corporate Cockpit Impact on Information Technologies

CCTT will radically change the way data, information and knowledge are managed - worldwide.

1.        Focus on knowledge rather than on information or data. By definition, knowledge is information that has value. Financial or operational by making it possible to make better decisions and/or execute them in a more efficient way thus increasing the performance of a particular corporate object and of the organization. The need to maximize the performance of all key corporate objects and the synergy between them will determine the need for particular knowledge, information and data serving as a filter to drastically reduce the “information noise” and making sure there are no ‘information lacunas’ in the corporate information system.

2.        Crucial role of director for knowledge management. With CCTT, efficient knowledge management becomes the foundation for the quantum leap in corporate performance. Therefore, director for knowledge management becomes the key corporate executive and the second-in-command after the CEO.

3.        Comprehensive Corporate Knowledge Base as a corporate knowledge integrator. Standard corporate objects repository (SCORE) becomes the basis for building a truly comprehensive corporate knowledge base (CKB). Thus, CKB will contain all knowledge, information and data (three levels of IT) necessary and sufficient to measure and maximize the performance of each corporate object and process, synergy between corporate objects and therefore of the whole organization. Thus radically reducing the ‘information noise’ and filling in all ‘information lacunas’.

4.        ‘Sophie’ as the core for the corporate knowledge management system. The fundamental objective of corporate knowledge management system is to (1) facilitate a quantum leap in corporate performance via CBA/SCR project and (2) keep corporate performance at its maximum at all times via kaizen system. To accomplish this objective, one needs to maximize the performance of each corporate object and process and their synergy. Which is accomplish mostly with Sophie software product. Which automatically makes the latter the core of the corporate knowledge management system.

5.        EOMS as a natural software monopoly. At the first stage of development of a comprehensive corporate knowledge management system, ‘Sophie’ assists in managing only the key high-level corporate objects using the output of other corporate management software via comprehensive corporate knowledge base. However, this is only an intermediate solution due to highly imperfect software- and data integration within the corporate knowledge management system. Therefore, it becomes imperative to deploy at the second stage the comprehensive Enterprise Objects Management System (EOMS) – a natural successor to current ERP systems – to be used for uniform and comprehensive management of all corporate objects and processes. EOMS will be offered as a family of SCORE-based specific editions for each type of organization (business, government, etc.) and each industry. And because SCORE is a natural monopoly, so will be EOMS.

6.        Comprehensive one-stop IT solution provider. Earlier we showed that organization will look for a strategic partner – a full-service strategic management consulting company that will serve as a general contractor for the CBA/SCR/Quantum Leap corporate performance maximization project. Likewise, organization will look for a strategic partner – a general contractor - that will supply a comprehensive IT (knowledge management) solution, including hardware, systems software, middleware, applications software (EOMS) and services. The company that could provide such a solution, will become a natural monopoly in the corporate management software (‘ERP systems’) market. And there is only one contender – Oracle Corporation.

Corporate Cockpit Impact on Investment Management

CCTT will radically change the way venture- direct- and portfolio investments are managed - worldwide.  

1.        Investment management is all about knowledge management. Investors gather, uncover, structure and analyze knowledge about potential investment targets (or their portfolio companies) and make investment decisions using this knowledge. Active investors use this knowledge to make corrective actions in managing their investments. The more efficient are their knowledge management tools and technologies, the more efficient is their investment management and the higher is their investment return. CCTT allow to build a truly comprehensive knowledge base on each investment and to structure this knowledge in a uniform- and easy-to-use way. Thus radically increasing the efficiency of knowledge management and investment management and thus the ROI.

2.        This will create a skyrocketing demand for investment editions of CCTT (including the Sophie software) and for CCTT-literate investment professionals – as well as for CCTT-based education and training programs in investment management.

3.        CCTT will significantly decrease risks and increase returns on venture- and direct investment management. Therefore, more money will flow into venture- and direct equity investment funds which will make a significant – and positive – impact on new business development and GDP growth.

4.        Traditional two-party partnerships between an entrepreneur and a venture investor (or a company and a direct/private equity investor) will be expanded into a three-party ones and will include a business engineer – a freelancer of a management consulting company. 

Corporate Cockpit Impact on Management Education

CCTT will radically change the way corporate management in taught – in business schools, universities, training companies and the like. In fact, CCTT will cause a seismic paradigm shift in corporate management education. Worldwide.  

1.        Global adoption of CCTT will cause a skyrocketing demand for business- and corporate engineers. Which will cause a no less skyrocketing demand for education and training in business engineering. Which, in turn, will inevitably lead to a proliferation of classes and programs in business engineering in business schools, universities, training companies and the like.

2.        CCTT will cause a no less tectonic shift in corporate management mentality. All management and specialists – regardless of the type of an organization (business, government, NGO, etc.) and the functional area (finance, operations, personnel, IT, etc.) will think in a uniform way – in terms of business objects, processes, KPI, performance maximization, CBA and SCR. Which will inevitably cause a fundamental restructuring of corporate management curricula worldwide.  Now all management programs and classes – in general management, finance, operations, IT, etc. will be structured around this ‘corporate cockpit’ paradigm.

3.        Skyrocketing demand for business engineering (BE) education will create no less skyrocketing demand for BE educators/instructors. Which will inevitably lead to a proliferation of Ph.D. and other training programs in business engineering in business schools, universities, training companies and the like.

4.        Development of standard corporate objects repository (SCORE) made possible by CCTT will allow to develop a truly comprehensive centralized Common Body of Managerial Knowledge (CBMK) structured around CCTT and implemented as a globally accessible Web site (CBMK Portal). CBMK will be based on best management practices worldwide and will serve as both a management tutorial and a reference book for corporate managers and specialists. For each corporate object CBMK will offer detailed object management guide, a comprehensive system of object-related KPI, management cases, articles and papers on object management, FAQ, etc. CBMK will be a live system based on the kaizen – permanent improvement principle and therefore will constantly evolve based on feedback from CBMK users – managers, professionals, investment analysts, management instructors, consultants, etc.

5.        CBMK will serve as a global central repository of managerial knowledge. Therefore, it will be used by all entrepreneurs, managers, specialists, consultants, investors, educators, students, etc. worldwide. Therefore, every corporate management education establishment will have to integrate its programs and classes with CBMK.

6.        Due to the global nature of CBMK and its very wealthy customer base, the owner of CBMK will reap enormous profits from setting up and operating this portal and no less spectacular return from investing into CBMK. In addition, CBMK owner will acquire an enormous influence on not only management educators, but on the whole global corporate management community

7.        As CBMK will be (a) truly comprehensive and (b) based on the truly best corporate management practices worldwide, no manager, specialist, educator and the like could afford not to use it. Therefore, CBMK will create a truly global and truly comprehensive corporate management community of entrepreneurs, managers, specialists, investors, consultants, investment and commercial bankers, educators, students and the like. 

Corporate Cockpit Impact on Entrepreneurs & Startups

CCTT will make a no less radical change in all entrepreneurial and startup activities. The essence of entrepreneurship is turning a business idea first into a startup company and then into a powerful money-making machine. Entrepreneur attempts to accomplish this objective either by himself/herself (using his/her own savings and/or loans from banks or other creditors) or by partnering with a venture investor that provides the necessary startup capital. As none of these parties is an expert in designing and implementing business management systems (and management consulting services are either too expensive, time-consuming or outright unavailable), startup failure rate is currently very high (according to The Wall Street Journal, 75-90%).  

CCTT radically changes this unattractive picture by adding the third professional into the partnership – the business engineer. Armed with CCTT, this specialist will work with the entrepreneur from day 1 (starting with the pure idea) helping the latter gradually build the powerful money-making machine from the original business idea. As well as assisting in negotiations with lenders, venture capitalists, strategic buyers and the like.

Therefore, to the vast majority of entrepreneurs, engaging the services of a business engineer (or at least obtaining the startup edition of CCTT) will become a matter of life and death (for his/her business, that is). Which will create skyrocketing global demand for business engineers, business engineering services and startup editions of Sophie. Making business engineering a very fast-growing industry.

Business engineering services will be provided mostly by business incubators – either by themselves or via contracts with freelance business engineers, boutique management consulting (business engineering) companies or business engineering departments of full-service strategic management consulting companies. Some venture investment funds (of the active investment management variety) might also want to set up business engineering department to exercise full control over their portfolio companies.

With CCTT, instead of the current business plan which is very seldom implemented ‘as is’, the entrepreneur (assisted by a business engineer) will be able to develop a comprehensive blueprint for a startup company (complete with the appropriate business objects, processes, KPI and ‘corporate cockpits’ for managers and professionals) which will be far easier for a venture capitalists to evaluate (and ‘buy’).

In essence, CCTT will make it possible for an entrepreneur, venture investor, business engineer and possibly the lender very efficiently work together to transform the business idea into a powerful money-making machine. Which will inevitably result in a dramatic increase of startup survival rate (from current 10-25% to 75% and quite possibly even 90%). With the corresponding no less dramatic drop in a waste of money, effort and other resources.

Startups are not limited to the business world; you can find them everywhere – in government (new agencies at the local, state/provincial and federal level); NGO/NCO – new organizations; academia – new universities, institutes, research outfits, etc. These startup also suffer a high failure rate and thus will benefit significantly from CCTT (provided via government, NGO and other appropriate editions of Sophie) and corporate engineering assistance provided by freelance consultants and specialized management consulting companies (or departments of full-service consulting companies). 

Corporate Cockpit Technologies as a Natural Monopoly

Arguably the most significant impact of CCTT on corporate management worldwide is establishment of a natural monopoly on corporate management technologies.

CCTT building blocks – corporate objects – have been around for a long time. So are their KPI. And optimal corporate processes based on best corporate management practices. And the bulk of CBA questions as well – as they are based on more or less established due diligence process (although we did significantly expand and modified the CBA questionnaire).

The key advantage of CCTT is the way to structure these building blocks into a standard type- and industry-specific corporate objects repository (SCORE) and a system of visual diagrams that together constitute a comprehensive corporate cockpit solution for a particular organization that allows it to make a quantum leap in its aggregate performance.

In this particular context, natural monopoly means that it makes practical (operational and economic) sense to have just one such system to be used by organization and management consultants to make a quantum leap in corporate performance via CBA and SCR.

The proof that CCTT are, indeed, the natural monopoly in the area of corporate management technologies (CMT), is provided by answers to two fundamental questions. First, is there any other CMT on the market capable of facilitating truly comprehensive CBT and SCR and thus a truly radical quantum leap? And second, will someone come up with an alternative CMT after CCTT are made public and introduced into corporate management? The one that can be introduced and promoted without violating copyright restrictions?

The answer to the first question is a firm No. We have conducted and extensive study of CMT worldwide and are completely confident that there is no such technology on the market today.

The second question is just a little bit trickier. In order to not violate copyright restrictions, the alternative technology must both be radically different from CCTT and produce the same result. The first issue is that it is far from certain that such a feat is, indeed, possible. The second issue is it most likely will take at least as much time and effort to develop an alternative technology as it was to develop the original one (which took 15 years, mind you).

The third issue is essentially a question: who would want to undertake such an endeavor and, most importantly, why? The only realistic developer of an alternative CMT would be an individual or a small team of management consultants and/or software developers, they might be interested in incorporating these technologies in their software product (alternative to Sophie) to either attract venture investment or sell it outright to a major buyer. 

Their success is highly unlikely because (as this project is extremely complicated) it will take them years to come up with the workable alternative. And by that time CCTT will already rule the world. And for an organization – management consulting company or a software vendor – it will be far easier to license CCTT as an “early bird” or buy it outright than to spend a lot of time, money and effort on an alternative technology. 

Corporate Cockpit Impact on Corporate Management

In this section, we will argue that the impact of CCTT on corporate management will dwarf the one from personal computing, the Internet, mobile computing and social networks combined. Why? Because with all of the above organizations were structured and operated essentially the same way – only faster. CCTT will radically transform both organizations and the way they do things – from setting strategic objectives to performing day-to-day activities.

1.        Total corporate transparency. CCTT will make all corporate objects and processes visible and measurable to managers and professionals responsible for the corresponding objects. Combined with other control tools such as video cameras, e-mail and phone monitoring CCTT will ensure that everything and everyone in the organization is watched and measured at all times. Which radically improves discipline, no less radically improves productivity (employees are far more productive when they know they are being watched and measured). What is watched and measured is managed; what is managed, gets done.

2.        Radical reduction of waste & fraud. When employees know that they are constantly watched and measured, they are far less likely to waste valuable resources (time, money, effort, etc.), let alone commit fraud. Besides, CCTT make it possible to design and implement the optimal corporate structure that goes a long way towards radically reducing waste and fraud (e.g. via an optimal risk management and loss prevention system).

3.        Truly lean organization. CBA and SCR will ensure not only the quantum leap in corporate performance, but also that the organization in question possesses only the objects (brands, products, employees, assets, functional units, documents, etc.) absolutely necessary and sufficient for maximization of its corporate performance and none of the unneeded ones. Which is exactly the definition of a truly lean organization.

4.        Corporate Engineering. We showed above that a quantum leap in corporate performance critically depends on corporate re-engineering (for an established company) or engineering (for a startup). Therefore, corporate engineering becomes one of the primary (if not the primary) corporate management function and activity. And director for corporate engineering and his team – key corporate managers and specialists.

5.        Radically improved employee evaluation and motivation system. CCTT allow to both collect, structure and make available a comprehensive information of employee ‘buttons’ and on the objects (and their KPI) in responsibility areas of an employee in question. This knowledge allows to develop and implement a highly personalized evaluation, compensation and motivation system for every corporate employee. Such a system will go a long way towards maximizing the performance of every manager and specialist in the organization.

6.        Optimal match between abilities and responsibilities. CCTT allow to get a comprehensive picture of both employee abilities (education, training, experience, etc.) and specific functions that need to be implemented in an organization to maximize its aggregate performance thus creating the optimal match between the two.

7.         ‘Happy organization’. CCTT will make it possible to identify the aggregate needs – financial, functional and emotional – of all corporate stakeholders (owners/investors, clients/customers, suppliers, partners, etc.) and build a corporate structure (objects and processes) that will satisfy these needs to the fullest. Which is the practical definition of happiness. Therefore, the organization in question will make all of its stakeholders happy and thus will have the right to be called a ‘happy organization’. 

Corporate Cockpit Impact on Management Consulting

Due to their revolutionary nature and the global demand, CCTT will radically restructure the global market for management consulting services:

1.        Demand for management consulting services will skyrocket. This quantum leap in demand will be driven primarily by businesses, for whom deployment of CCTT is a matter of life or death. If they do not deploy CCTT and make a quantum leap in aggregate corporate performance, they will be either acquired by their rivals that will or simply put out of business – due to an upcoming inevitable enormous productivity gap. As usual, businesses will be followed by government entities - at federal, state/provincial and local levels, NGO/NCO, academic institutions and other categories of organizations.

2.        Revenues and profits of management consulting companies will skyrocket accordingly driven by a quantum leap in corporate demand for their services. Even very large organization have neither human resources nor expertize to conduct CBA or SCR; therefore, they will always outsource this project to an outside specialist – a full-service management consulting company.

3.        As we stated above, CCTT are a natural monopoly in the area of corporate management technologies. Therefore, to capitalize on these money-making opportunities, all management consulting companies will have to use CCTT as the foundation for their products and services.

4.        Client companies will form strategic partnerships with strategic management consulting companies (one-stop-shops) capable of providing comprehensive ‘quantum leap’ solutions. In fact, all ‘quantum leap’ corporate performance maximization projects (CBA/SCR) will be outsources to outside professionals

5.        Full-service management consultants will subcontract parts of comprehensive corporate performance maximization projects to specialized (‘niche’ consulting companies). Naturally, to stay in business, these niche players will have to use corporate cockpit tools & technologies in performing their services.

6.        As successful quantum leap (CBA/SCR) consulting projects require deployment corporate cockpit software solutions, management consulting companies will merge with systems integrators offering Sophie-based software/information technology solutions. Or develop Sophie-deployment capabilities themselves. For all practical purposes, it will mean that ‘pure’ management consulting industry will cease to exist. Instead, it will be merged with a part of systems integration industry.

7.        Radical restructuring of an industry caused by introduction of radically new products and technologies inevitable results in a significant consolidation of the industry in question. Therefore, we will inevitably see a lot of M&A in the management consulting industry – both domestic and cross-border. Both vertical – with strategic management consulting (SMC) powerhouses acquiring specialized (‘niche’) consulting companies and horizontal – with larger and stronger SMC acquiring smaller and weaker ones.

8.        CCTT are not set in stone. Instead, they are rather like a living organism and thus must be constantly evolving and improving. Which requires acquisition and analysis of extensive used feedback and joint activities of all CCTT stakeholders – users (corporate managers and professionals, entrepreneurs, investors, management consultants, systems integrators, software vendors, management instructors, etc.). The best framework for such activities is a non-profit foundation – Corporate Cockpit Collaborative (CCCol) described in more detail above. 

CCTT and a Quantum Leap in Corporate Performance

1.        Corporate analyst/engineer identifies missing corporate objects in an organization in question using a system of corporate object maps (COM) and makes recommendations on adding these objects using both the COM and standard corporate object repository (SCORE) – part of a Sophie software product

2.        Corporate analyst identifies excessive corporate objects in an organization in question using a system of corporate object maps (COM) – also part of a Sophie software product

3.        Corporate analyst structures all key corporate objects in the most coherent and logical way using a system of corporate object maps (COM)

4.        Corporate analyst makes sure that every corporate object in an organization in question has exactly the right set of KPI by using the standard corporate object repository (SCORE) which contains both general and category- and industry-specific objects and their KPI – customizable for a specific organization

5.        Corporate analyst/engineer ensures that every corporate manager and specialist has access via his/her computer screen to all knowledge necessary and sufficient to make and execute the best possible decisions in his/her responsibility areas by deploying a comprehensive, personalized and customized corporate cockpit solution for the organization in question. This solution is based on the Sophie software product and includes all CCTT components: CPAQ, SCORE, COM, CPM, COAS and KPIS.

6.        Corporate analyst/engineer ensures that every object operates at its highest possible efficiency by (a) measuring its current efficiency (AS IS) using the corresponding scorecards - COAS and KPIS; (2) specifying – together with the object manager – the desired KPI values (TO BE) and (3) developing – again with the object manager – financial and operational plans for maximizing the aggregate performance of the object in question

7.        Corporate analyst/engineer makes sure that the synergy between corporate objects is maximized at all times by (a) measuring synergy AS IS using the synergy-related KPI and (b) developing and implementing financial and operational plans for maximizing the synergy between corporate objects

8.        Corporate analyst/engineer ensures that managers and professionals from all functional areas in an organization (marketing, finance, operations, personnel, IT, etc.) speak the same language based on the key concepts of corporate objects, processes, KPI, stakeholders and performance by implementing a uniform corporate cockpit solution for every functional area based on CCTT and exactly these concepts

9.        The organization makes sure that activities of all of its managers and professionals are properly coordinated by (a) placing on every computer screen the ‘big corporate picture’ – the general corporate objects map and (b) integrating object performance improvement plans (and thus activities of individual managers and specialists) into a comprehensive corporate operational plan. The ‘big corporate picture’ ensures that every corporate manager and professional sees (a) the big picture; (b) his/her place in this picture and (c) his/her relationships and dependencies on his/her colleagues. 

Brief Description of Corporate Cockpit Technologies

Corporate Cockpit Technologies & Tools (CCTT) have been developed to assist organizations (businesses, government entities, NGO, academia, etc.) in making a quantum leap in their aggregate corporate performance. Specifically, to conduct a comprehensive corporate performance audit (CPA) and to perform a strategic corporate reengineering (SCR). To achieve this objective, we have developed the following tightly integrated components:

1.        Comprehensive Performance Analysis Questionnaire (CPAQ). This is a comprehensive questionnaire that allows to uncover all key management problems within an organization – missing and excessive corporate objects; poor quality-of-fit (synergy) between objects; inefficient corporate processes; information overload, information lacunas, poor coordination between managers and professionals, ‘Babylonian effect’, etc.

2.        Standard Corporate Objects Repository (SCORE). SCORE is a comprehensive database that contains standard corporate objects (bot general and category- and industry-specific) as well as object-related KPI and corporate processes. SCORE is used both at the CBA stage (to develop a customized CPAQ for a specific organization) and at the SCR stage – to assemble an optimized corporate structure from standard components fine-tuned for a specific organization. SCORE can also be used by entrepreneurs to assemble (‘engineer’) a corporate structure for a business startup.

3.        Corporate Objects Maps (COM). COM are used to structure corporate objects and object portfolios (such as products, brands, target markets, competitors, etc.) to create a comprehensive, uniform and easy-to-use system of corporate objects for a particular organization. You can find an example of COM for a system of corporate objects in Appendix I and for a portfolio of corporate products in Appendix II.

4.        Corporate Process Maps (CPM). CPM are diagrams used to visualize corporate processes. CPM are based on IDEF0 methodology included in the ISO system of standards. You can find a CPA example in Appendix III.

5.        Comprehensive Object Analysis Scorecards (COAS). COAS contain all questions used to perform a comprehensive performance analysis for a particular object (including its synergy with other objects). This scorecard has links to analysis, conclusions, recommendations and comments regarding maximizing object performance as well as to a detailed financial and operational performance maximization plan. You can find a COAS example in Appendix IV.

6.        KPI Scorecards (KPIS). KPIS structures values of all KPI related to a particular corporate object. It thus analyzes the performance of the object in question from the standpoint of KPI values (as opposed to questions in the COAS). Like COAS, KPIS has links to analysis, conclusions, recommendations and comments regarding maximizing object performance as well as to a detailed financial and operational performance maximization plan. You can find a KPIS example in Appendix V.

7.        Comprehensive Corporate Analysis Workbench (‘Sophie’). This is the software product that we developed to implement the abovementioned CCTT. From the software standpoint, this product – when deployed – supplies each manager and professional in an organization with his or her own corporate cockpit provided according to an all-important ‘need-to-know-principle’. You can find a demo version of ‘Sophie’ here.

Making a Quantum Leap in Corporate Performance

1.        Make sure that an organization has all objects necessary for operating at the highest possible performance and that these objects are structured in the most coherent and logical way

2.        Make sure that there are no excessive objects in an organization

3.        Make sure that every object has exactly the right set of KPI necessary and sufficient to adequately measure its aggregate performance

4.        Make sure that all relevant information (knowledge) about every object and corporate process is visible to the appropriate decision-maker (object or process manager)

5.        Make sure that every object operates at its highest possible efficiency (measured by the object-related KPI)

6.        Make sure that the synergy between corporate objects is maximized at all times

7.        Make sure that every corporate manager and specialist has access via his/her computer screen to all knowledge necessary and sufficient (not too much, not too little) to make and execute the best possible decisions in their responsibility areas

8.        Make sure that managers and professionals from all functional areas in an organization (marketing, finance, operations, personnel, IT, etc.) speak the same language based on the key concepts of corporate objects, processes, KPI, stakeholders and performance

9.        Make sure that all managers and specialists in an organization have all tools and knowledge necessary and sufficient to coordinate their decisions and actions in the most efficient way

Key Problems in Corporate Management

As we stated earlier, any model is only as good as it helps us to explain, predict and control the subject matter in question. In this case, to identify key problems in corporate management that prevent organizations from operating at highest possible efficiency (maximizing their aggregate performance). In this section we will demonstrate – beyond the reasonable doubt – that the ‘aircraft paradigm’ does the job and does it well (better than any other).

1.        Missing corporate objects. If an important component is missing, an aircraft does not fly well and often does not take off at all. Likewise, if a valuable object is missing (product, employee, competency, document, asset, etc.), an organization operates well below its top performance.

2.        Excessive corporate objects. Like in an airplane, excessive corporate objects (employees, departments, assets, etc.) consume valuable resources and thus prevent an organization from maximizing its performance.

3.        Poorly performing corporate objects.  If one or more aircraft components does not work properly, the efficiency of the efficiency of the whole airplane can suffer greatly. When one or more corporate objects does not perform well (and it happens all the time), the aggregate corporate performance goes south.

4.        Poor synergy between corporate objects. If components of an aircraft do not fit well, it will not fly well – and quite possible will not even take off. In the same way, if objects within an organization have imperfect synergy, it will operate well below its maximum possible performance.

5.        Inefficient corporate processes.  If an aircraft has an inefficient fuel supply process, for example, it will have serious difficulty flying (or even taking off). For the same reason, if key corporate processes in an organization are inefficient, the company as a whole will be highly inefficient as well, operating at a fraction of its maximum possible performance.

6.        Information overload. If a pilot is constantly bombarded by data and information from sources all over the place without any means to structure and filter the knowledge needed to make and execute the right decisions, getting the plane to its destination (and even keeping it in the air) becomes very difficult. But it is exactly what corporate managers and specialists in every organization face every day. This information overload significantly reduces the quality of corporate decisions and severely hampers the corporate performance.

7.        Lack of knowledge about objects and processes (internal and external). It is common knowledge that you can manage only what you can measure and you can measure only what you can see. If the pilot has no idea about weather conditions ahead or how well engine is working or the fuel situation, the flight will very likely end in disaster. Unfortunately, these ‘information lacunas’ is exactly what corporate managers and specialists encounter all the time (many crucial internal and external objects are simply invisible due to low corporate transparency). As the result, managers have to make decisions using insufficient information which greatly reduces the quality of corporate decisions and severely hampers the corporate performance.

8.        Poor coordination of actions (both horizontal and vertical) in an organization. If a group of fighter (or bomber) aircraft does not coordinate their actions, they not only will not be able to achieve the objectives of their sortie, but may very well lose some (if not all) their aircraft. Unfortunately, this is exactly what happens in practically every organization which results in often dramatically low corporate performance.

9.        The ‘Babylon effect’. Imagine what would happen if one pilot in a group of fighter plane speaks only German; another one – only French, etc. But this is exactly what happens in every organization where managers and professionals from different functional areas (marketing, finance, IT, legal, etc.) speak often totally different ‘languages’. Hence, a lot of time and effort is wasted to make them understand each other which severely reduces aggregate corporate performance.