A Systemic Design of Regulation Enabling Ontology
The deregulation of economies has re-created the need for regulation. From a Systems perspective, the unbundling of large monolithic industrial setups into smaller independent companies results in the dissolution of high level management structures which, in the pre-deregulated era, had the overall control of the end-to-end delivery process. In the absence of such holistic oversight mechanisms, deregulated industries remain vulnerable to systemic failure. Industry regulators need to go beyond the usual concerns of price, quality, and access, and invest in methods that capture the interactions between the different stakeholders in an industry. It is the understanding of the individual interactions that can help piece together a holistic view of the industry; thereby allowing the regulator to devise well informed interventions. In this paper we model industry interactions as a multi-party value realization process and take a Systems approach in analyzing them. Every value realization is analyzed both at the industry level and at the level of stakeholders within the industry. The design patterns that emerge from this whole/composite view of value realization form the basis for formalizing the concepts required to analyze the working of an industry. An explicit specification of these concepts is presented as Regulation Enabling Ontology, REGENT.
Record created on 2010-10-12, modified on 2016-08-08