A framework enables organizations within a specific sector to systematically represent and oversee their operations. This framework can encompass various aspects, including but not limited to resource allocation, performance measurement, and strategic planning. For instance, within financial services, a standardized methodology might be adopted for risk assessment and regulatory compliance, ensuring consistency and comparability across different institutions.
The advantages of employing such a structured approach are multifaceted. It facilitates improved efficiency through the streamlining of processes and the elimination of redundant activities. Moreover, it enhances accountability by providing clear lines of responsibility and measurable targets. Historically, the adoption of these frameworks has been driven by both internal needs for improved governance and external pressures from regulatory bodies and competitive forces.
