The terms 'operating model' and 'target operating model' are used frequently in business, consulting, and PE contexts. They are also used loosely, which creates confusion about what is being discussed, what is being designed, and what is being assessed. The Value...

Operating model design is not new. The large consulting firms have been delivering operating model engagements for decades, and much of that work has been valuable. The question is not whether conventional approaches are wrong, but whether they are complete, and...

Private equity value creation has evolved significantly over the past decade. Financial engineering alone, leverage, multiple expansion, and timing, is no longer sufficient. The returns that PE investors expect increasingly depend on operational improvement: making...