Business

"I ne'er could any lustre see In eyes that would not look on me; I ne'er saw nectar on a lip But where my own did hope to sip."

"All the perplexities, confusions, and distresses in America arise, not from defects in their constitution or confederation, not from a want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation."

"When a banker, in addition to his other functions, is also an issuer of paper money, he gains an advantage (...) the banker by issuing it levies a tax on every person who has money in his hands or due to him. He thus appropriates to himself a portion of the capital of other people, and a portion of their revenue."

"It is wonderful how much good a man may do in this world if he does not care who gets the credit of it."

"A great industrial nation is controlled by its system of credit. Our system of credit is privately concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men who, even if their action be honest and intended for the public interest, are necessarily concentrated upon the great undertakings in which their own money is involved and who necessarily, by very reason of their own limitations, chill and check and destroy genuine economic freedom. This is the greatest question of all, and to this statesmen must address themselves with an earnest determination to serve the long future and the true liberties of men."

"He smote the rock of the national resources, and abundant streams of revenue gushed forth. He touched the dead corpse of Public Credit, and it sprung upon its feet."

"Credit is the vital air of the system of modern commerce. It has done more, a thousand times, to enrich nations, than all the mines of all the world. It has excited labor, stimulated manufactures, pushed commerce over every sea, and brought every nation, every kingdom, and every small tribe, among the races of men, to be known to all the rest. It has raised armies, equipped navies, and, triumphing over the gross power of mere numbers, it has established national superiority on the foundation of intelligence, wealth, and well-directed industry. Credit is to money what money is to articles of merchandise. As hard money represents property, so credit represents hard money; and it is capable of supplying the place of money so completely, that there are writers of distinction, especially of the Scotch school, who insist that no hard money is necessary for the interests of commerce. I am not of that opinion. I do not think any government can maintain an exclusive paper system, without running to excess, and thereby causing depreciation."

"Credit is like a looking-glass, which, when only sullied by an unwholesome breath, may be wiped clean again; but if once it is cracked, it is never to be repaired."

"If the Nation is living within its income, its credit is good. If, in some crises, it lives beyond its income for a year or two, it can usually borrow temporarily at reasonable rates. But if, like a spendthrift, it throws discretion to the winds, and is willing to make no sacrifice at all in spending; if it extends its taxing to the limit of the people's power to pay and continues to pile up deficits, then it is on the road to bankruptcy."

"Within the credit relationship, it is not the case that money is transcended in man, but that man himself is turned into money, or money is incorporated in him. Human individuality, human morality itself, has become both an object of commerce and the material in which money exists. Instead of money, or paper, it is my own personal existence, my flesh and blood, my social virtue and importance, which constitutes the material, corporeal form of the spirit of money."

"Private credit is wealth; public honor is security; the feather that adorns the royal bird supports its flight; strip him of his plumage, and you fix him to the earth."

"The maxim of buying nothing without the money in our pocket to pay for it, would make of our country one of the happiest upon earth. Experience during the war proved this; as I think every man will remember that under all the privations it obliged him to submit to during that period he slept sounder, and awaked happier than he can do now. Desperate of finding relief from a free course of justice, I look forward to the abolition of all credit as the only other remedy which can take place."

"Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs."

"The use of money does not disestablish the normal process of creating credit. Money, it is true, is always being paid into the banks by the retailers and others who receive it in the course of business, and they of course receive bank credits in return for the money thus deposited. But for the manufacturers and others who have to pay money out, credits are still created by the exchange of obligations, the banker's immediate obligation being given to his customer in exchange for the customer's obligation to repay at a future date. We shall still describe this dual operation as the creation of credit. By its means the banker creates the means of payment out of nothing, whereas when he receives a bag of money from his customer, one means of payment, a bank credit, is merely substituted for another, an equal amount of cash."

"The only road, the sure road—to unquestioned credit and a sound financial condition is the exact and punctual fulfilment of every pecuniary obligation, public and private, according to its letter and spirit."

"Propositions prey upon and are grounded upon one another just like living forms. They support one another as plants and animals do; they are based ultimately on credit, or faith, rather than the cash of irrefragable conviction. The whole universe is carried on on the credit system, and if the mutual confidence on which it is based were to collapse, it must itself collapse immediately. Just or unjust, it lives by faith; it is based on vague and impalpable opinion that by some inscrutable process passes into will and action, and is made manifest in matter and in flesh; it is meteoric - suspended in mid-air; it is the baseless fabric of a vision to vast, so vivid, and so gorgeous that no base can seem more broad than such stupendous baselessness, and yet any man can bring it about his ears by being over-curious; when faith fails, a system based on faith fails also."

"Enterprise architecture is the organizing logic for business processes and IT infrastructure reflecting the integration and standardization requirements of the company's operating model. The operating model is the desired state of business process integration and business process standardization for delivering goods and services to customers."

"[...] the lies that people tell [...] the people who have monopolies pretend not to. [...] you don't want to get regulated by the government [...] So if the monopolists pretend not to have monopolies, the non-monopolists pretend to have monopolies. [...] If you are a non-monopolist, you will rhetorically describe your market as super-small [...] you are the only person in that market."

"A cartel or trust confers various benefits on the entrepreneur - a saving in costs, a stronger position as against the workers - but none of these compares with this one advantage: a monopolistic price policy, possible to any considerable degree only behind an adequate protective tariff. Now the price that brings the maximum monopoly profit is generally far above the price that would be fixed by fluctuating competitive costs, and the volume that can be marketed at that maximum price is generally far below the output that would be technically and economically feasible. [...] Yet the trust must produce it - or approximately as much - otherwise the advantages of large-scale enterprise remain unexploited and unit costs are likely to be uneconomically high. [...] [The trust] extricates itself from this dilemma by producing the full output that is economically feasible, thus securing low costs, and offering in the protected domestic market only the quantity corresponding to the monopoly price - insofar as the tariff permits; while the rest is sold, or "dumped," abroad at a lower price."

"Mr. Wilson says of the trust plank in that platform that it "did not anywhere condemn monopoly except in words." Exactly of what else could a platform consist? Does Mr. Wilson expect us to use algebraic signs? This criticism is much as if he said the Constitution or the Declaration of Independence contained nothing but words."

"The most obvious negative feature of capitalism is that it can produce private monopolies that restrict output and thereby harm consumers."

"The methods by which the Vanderbilts, Goulds, Fields, Rockefellers, Mackays, Floods, O'Briens, and the coal and iron and salt Pashas are heaping up enormous fortunes are methods, not of creation of wealth, but of the redistribution of the wealth of the masses into the pockets of monopolists."

"Monopoly is business at the end of its journey."

"Local economic independence cannot be preserved in the face of consolidations such as we have had during the past few years. The control of American business is steadily being transferred, I am sorry to have to say, from local communities to a few large cities in which central managers decide the policies and the fate of the far-flung enterprises they control. Millions of people depend helplessly on their judgment. Through monopolistic mergers the people are losing power to direct their own economic welfare. When they lose the power to direct their economic welfare, they also lose the means to direct their political future."

"Ironically, contrary to the consensus of historians, it was not the existence of monopoly which caused the federal government to intervene in the economy, but the lack of it."

"The best of all monopoly profits is a quiet life."

"Advertising is an important characteristic of modern capitalism and a contributory factor in the establishment and maintenance of monopoly positions."

"Enterprise Architecture is not a method, principle or doctrine – It is a way of thinking enabled by patterns, frameworks, standards etc. essentially seeking to align both the technology ecosystem and landscape with the business trajectory driven by both the internal and external forces. Daljit R Banger"

"Enterprise architecture (EA) is a discipline for proactively and holistically leading enterprise responses to disruptive forces by identifying and analyzing the execution of change toward desired business vision and outcomes. EA delivers value by presenting business and IT leaders with signature-ready recommendations for adjusting policies and projects to achieve target business outcomes that capitalize on relevant business disruptions. EA is used to steer decision making toward the evolution of the future state architecture."

"Many companies are not driving significant business value from the digitized platforms they build as part of their enterprise architecture initiatives. Our 2011 survey of 146 senior IT leaders found that the companies that benefit from their platforms' efforts are consistently relying on four architecture-related practices that encourage organizational learning about the value of enterprise architecture: 1) making IT costs transparent, 2) debating architectural exceptions, 3) performing post-implementation reviews, and 4) making IT investments with enterprise architecture in mind."

"The history of enterprise architecture as a management discipline has been marked by failure to live up to the promise it showed as a concept. The idea of an enterprise architecture and the explicit understanding of the relationships between the most critical forces, resources, and processes involved in the execution of an organization’s business is powerful. People can grasp on an intuitive level how powerful the reality of that concept would be if it could be put into practice and harnessed on behalf of the enterprise. Unfortunately, the conceptual enterprise architecture that enables the agile enterprise and informs executives in the midst of critical portfolio and execution decisions has given way to a morass of additional bureaucracy and expensive efforts to create enterprise models that are more often significant as records of organizational history than as blueprints for the future. The problems lie in three areas. The first of which is a lack of clear performance objectives for the EA effort... The second major failure stems from the belief that EA is somehow all about the process for developing content... Finally, there is far too little attention paid to helping the consumers of EA information..."

"The historical roots of enterprise architecture are well recorded and span a period that starts with the Zachman framework and continues to the present day. During these twenty years of productive activity many well-known frameworks and government level initiatives have seen the light. The aim of this section is to examine the history of enterprise architecture in an attempt to discover the tradition within which it stands. This tradition is explored in terms of diversity of definitions, the components of enterprise architecture, and enterprise architecture frameworks and methods:"

"What I wanted to do when I came in... was help the community turn a corner and become relevant in the key initiatives that we need in the federal government... make sure architecture was relevant, it became more agile, it continued to move to have a more business and more strategy focus."

"Enterprise architecture (EA) is the definition and representation of a high-level view of an enterprise‘s business processes and IT systems, their interrelationships, and the extent to which these processes and systems are shared by different parts of the enterprise. EA aims to define a suitable operating platform to support an organisation‘s future goals and the roadmap for moving towards this vision. Despite significant practitioner interest in the domain, understanding the value of EA remains a challenge. Although many studies make EA benefit claims, the explanations of why and how EA leads to these benefits are fragmented, incomplete, and not grounded in theory. This article aims to address this knowledge gap by focusing on the question: How does EA lead to organisational benefits? Through a careful review of EA literature, the paper consolidates the fragmented knowledge on EA benefits and presents the EA Benefits Model (EABM). The EABM proposes that EA leads to organisational benefits through its impact on four benefit enablers: Organisational Alignment, Information Availability, Resource Portfolio Optimisation, and Resource Complementarity."

"EA originated from and is influenced by a number of business areas: The manufacturing industry, with Material Requirements Planning (MRP) and later Manufacturing Resource Planning (MRP II). These approaches developed into the so-called supply chain or value chain (Porter, et al). Not only the incoming logistics and internal operations were considered, but also the flow of material to customers and back. The second origin of EA growth was from Process Modelling and Design approaches, e.g. Business Process Re-engineering (Hammer, et al). These approaches seek to depict the enterprise in terms of business processes, leading to process improvements and “end-to-end” process integration. Corporate and process governance, organisational adaptability and IM/IT system integration were typical considerations. Organisations were consequently often restructured, to become “flatter” (less management layers) and coined process-centred or process-oriented organisations. A third development is a type of backward integration where software developers trie to better understand and serve the business world with “functioning and value-adding” software solutions (business applications). It is a well-known fact that enterprise integration software (ERP, etc.), according to business users and owners, are often considered to be failures."

"A literary review by Schöenherr (2009) clearly shows that the level of interest in Enterprise Architecture is indeed increasing. Although the term architecture was limited to information systems when originally adopted by John Zachman (1987), the concept has since then been expanded to encompass the entire enterprise and interpreted by academia as well as the private and public sectors. The different views on how to approach Enterprise Architecture are often documented and compiled into “guides” or “frameworks” which are intended to instruct practitioners in how to apply this concept to their organization. However, the numerous approaches all present disparate views on what exactly Enterprise Architecture entails and how it is best administered (Rood, 1994; Whitman, Ramachandran & Ketkar, 2001; Sessions, 2007; Schöenherr, 2009). This essentially leaves the practitioner in the dark as the approaches offer virtually no common ground, no common language and no common orientation on which to base a comparison."

"Enterprise Architecture is the continuous practice of describing the essential elements of a sociotechnical organization, their relationships to each other and to the environment, in order to understand complexity and manage change."

"In recent years, enterprise architecture (EA) management has emerged to one of the major challenges for enterprises. When looking for guidance in this field companies can choose from a variety of EA management approaches, which have been developed by scientists, practitioners, and governmental organizations. However, these approaches differ significantly in a number of characteristics and especially when it comes to methods for the EA management function. There is neither a common understanding of the scope and content of the main activities an EA management function consists of nor has a commonly accepted reference method been developed."

"has been an area of significant research in the information systems discipline throughout the last decade. Mainly developed by IT-practitioners, enterprise architectures (EA) became a promising and comprehensive approach to model either the current or desired state of enterprises. Existing approaches are, however, often criticized for paying too little attention to the business side of enterprises. In this paper, we interpret an enterprise as socio-technical system and analyze from a systems theory perspective which features are necessary for a comprehensive model. From there, we deduce if, why and how additional aspects of enterprises should be included into EA. Amongst others, it becomes obvious that especially human actors, as most flexible and agile elements of enterprises, are not adequately included in current architectures."

"Since 2003, more and more authors using the term EA explicitly in their publications, Most of the newer contributions are coming from an academic background. Especially after 2005, a lot of consultancies and IT-companies are adopting their products and strategies to an extended architectural understanding hence Enterprise Architecture... After 2004-2005 a lot of companies started to use the term EA and since then have connected it somehow to their products and strategies a huge amount of superficial marketing material has been distributed. Consider the maturity and the focus of the contributions there is no topic or even a theory in the discipline of EA. Almost half of the approaches discussed in the papers are still coming from low maturity level (Concept Phase) in the context of readiness to be used in an organization. Only a third of the authors are delivering some kind of best practice (Implementation/Adoption). Differentiating the focus of EA-authors there are two specific topics only (EA-Frameworks and Enterprise Modeling) the majority is dealing with rather general aspects."

"Methods for enterprise architecture, such as TOGAF, acknowledge the importance of requirements engineering in the development of enterprise architectures. Modelling support is needed to specify, document, communicate and reason about goals and requirements. Current modelling techniques for enterprise architecture focus on the products, services, processes and applications of an enterprise. In addition, techniques may be provided to describe structured requirements lists and use cases. Little support is available however for modelling the underlying motivation of enterprise architectures in terms of stakeholder concerns and the high-level goals that address these concerns"

"Enterprise architecture {is] a coherent whole of principles, methods, and models that are used in the design and realisation of an enterprise's organisational structure, business processes, information systems, and infrastructure... The most important characteristic of an enterprise architecture is that it provides a holistic view of the enterprise... To achieve this quality in enterprise architecture, bringing together information from formerly unrelated domains necessitates an approach that is understood by all those involved from those different domains."

"Enterprise Architecture is the organizing logic for key business processes and IT capabilities reflecting the integration and standardization requirements of the firm’s operating model."

"When software applications became larger and larger, people such as Shaw and Garlan coined the term software architecture. This notion of architecture deals with the key design principles underlying software artefacts. In the 1980s and 1990s, people became aware that the development of information technology (IT) should be done in conjunction with the development of the context in which it was used. This led to the identification of the so-called business/IT alignment problem. Solving the business/IT alignment problem requires enterprises to align human, organizational, informational, and technological aspects of systems. Quite early on, the term architecture was also introduced as a means to further alignment, and thus analyzes and solves business?IT alignment problems, Recently, the awareness emerged that alignment between business an IT is not enough, there are many more aspects in the enterprise in need of alignment. This has led to the use of the term architecture at the enterprise level: enterprise architecture."

"Enterprise Architecture is the description and visualization of the structure of a given area of contemplation, its elements and their collaborations and interrelations links vision, strategy and feasibility, focusing on usability durability and effectiveness. Architecture enables construction, defining principles, rules, standards and guidelines, expressing and communicating a vision."

"The dream of every CEO is to have one standardized, integrated, flexible and manageable landscape of aligned business and IT processes, systems and procedures. Having complete control over all projects implementing changes in that landscape so that they deliver solutions that perfectly fit the corporate and IT change strategies, makes this dream complete. The reality for many large organizations is quite the opposite. Many large organizations struggle to keep their operational and change costs in control. Key reasons are the inflexibility and enormous complexity of their business and IT structures, processes, systems, and procedures, often distributed across lines of business (LoB) and business divisions (BD) spread out over various regions, countries or even continents.., Over the last decade, Enterprise Architecture (EA) has been one of many instruments used by organizations in their attempt to get grip on the current operational environment and the implementation of changes. EA provides standardization, and sets a clear direction for the future to guide changes."

"Enterprise Architecture (EA) is becoming an increasingly mature field of work, but many large organizations still struggle with implementing an integral and truly effective EA function. The literature provides a fragmented picture of the EA function, describing the various separate elements that make up the total package of activities, resources, skills, and competences of the EA delivery function. In our view, the EA function reaches beyond EA delivery and also includes the stakeholders, structures and processes involved with EA decision making and EA conformance. A holistic and integral view on the EA function is essential in order to properly assess an EA function on its performance, and to allow identifying the key points of improvement..."

"The goal of enterprise architecture is to create a unified IT environment (standardized hardware and software systems) across the firm or all of the firm's business units, with tight symbiotic links to the business side of the organization (which typically is 90% of the firm... at least by way of budget). More specifically, the goals are to promote alignment, standardization, reuse of existing IT assets, and the sharing of common methods for project management and software development across the organization."

"Enterprise architecture is the process of translating business vision and strategy into effective enterprise change by creating, communicating and improving the key requirements, principles and models that describe the enterprise's future state and enable its evolution. The scope of the enterprise architecture includes the people, processes, information and technology of the enterprise, and their relationships to one another and to the external environment. Enterprise architects compose holistic solutions that address the business challenges of the enterprise and support the governance needed to implement them."

"Since the 1970's, organizations are spending more and more money building new information systems. The fast growing number of systems and in many cases the ad hoc manner in which the systems were integrated have exponentially increased the cost and complexity of information systems. At the same time organizations are finding it more and more difficult to keep these information systems in alignment with business need. Furthermore, the role of information systems has changed during the last two decades, from automation of routine administrative tasks to a strategic and competitive weapon. In light of this development, a new field of research and practice was born that soon came to be known as Enterprise Architecture."