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Model-based management in start-ups: A retrospective on the role of models in building new financial businesses

机译:初创企业中基于模型的管理:回顾模型在建立新的金融业务中的作用

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Purpose - The paper's aim is to share honest insights into how one management team used model-based management to establish new businesses and products. Design/methodology/approach - The paper shows the approach used for each business, why its area of operations may have changed the preceding processes but the functional form remained the same then eventually finding expression in the viable system model (VSM). Findings - The paper finds that regardless of proper innovation and profitability, without a holistic approach to capital management the dominant logic of the market place will: subsume good start-up businesses believing that established ones will go on forever; risk-pricing in the capital markets will continue the boom/bust tradition; system boundaries must be carefully chosen thereby implementing appropriate controls at each recursive level; and avoid moral hazard emerging through ill-considered rules that allow people to "game the system". Practical implications - This paper informs regulators and business managers of the advantages of a functional management model based upon the protection of core capital. Originality/value - The paper validates the principles of systems management of the VSM and sensitivity model in a modern idiom and suggests methods for the better control of insurance and capital markets institutions.
机译:目的-本文的目的是就一个管理团队如何使用基于模型的管理来建立新业务和产品分享诚实的见解。设计/方法/方法-本文展示了每种业务所使用的方法,为什么其业务领域可能会更改先前的流程,但功能形式保持不变,然后最终在可行的系统模型(VSM)中找到表达。调查结果-该论文发现,不管适当的创新和盈利能力如何,如果不采用整体方法进行资本管理,市场的主导逻辑将是:让良好的创业企业相信已经成立的企业将永远持续下去;资本市场的风险定价将延续繁荣/萧条的传统;必须仔细选择系统边界,从而在每个递归级别上实施适当的控制;并避免通过允许人们“游戏系统”的不当考虑的规则出现道德风险。实际意义-本文向监管机构和业务经理介绍了基于保护核心资本的功能管理模型的优势。原创性/价值-本文验证了现代习语中VSM的系统管理原理和敏感性模型,并提出了更好地控制保险和资本市场机构的方法。

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