Markets are sources of supply and demand in the external working environment where resources, offerings and capabilities are bought, sold and traded.
The markets capability is the business capability system which functions to realize customers, partners, suppliers, consultants, industry standards organizations, industry regulatory organizations and competitors.
The purpose of the markets capability is to enable and assure the abilities of the supply and demand markets of the enterprise.
Market management is the business capability management of the markets capability.
The purpose of market management is to enable and assure the management and abilities of the markets capabilities of the enterprise are controlled, balanced and aligned to the mission and needs of the enterprise as a whole.
Market Management Responsibilities
The business manager role is responsible for market management of the markets capability.
Market management include market management ideas, requirements, plans, risks, opportunities, reviews, decisions and action items. Specific examples include marketing plans, sales plans and supplier plans.
The markets architecture is the business architecture of market management of the markets capability.
The business manager role uses the markets architecture to support market management responsibilities and activities.
The purpose of the markets architecture is to provide a management structure to enable and assure the markets capability of the enterprise is controlled, balanced and aligned to the mission and needs of the enterprise as a whole.
The structure includes customers, partners, suppliers, consultants, industry standards organizations, industry regulatory organizations and competitors.
Markets Architecture Responsibilities
The business architect role is responsible for architecting the markets architecture in support of the market management responsibilities of the business manager role.
Markets architecture work products include markets architecture concepts, descriptions, models, views, viewpoints, specifications and analyses. Specific examples include market analysis, marketing model and sales model.
As shown in Figure 48 – Markets Team Concept, markets are interconnected with and interdependent on integration, data, configurations, records, information utilization, system needs and service needs.
Figure 48 – Markets Team Concept
Within the business capability markets is interconnected with and interdependent on mission, portfolio, talent, operations and business management.