A multi-dimensional business strategy model for effective decision making: A holonic representation of enterprises

In today's fast changing socio economic environment, companies have to rapidly adapt to changing conditions and adopt newer technologies and ways of working. Use of Augmented Reality (AR) and Virtual Reality (VR) is well recognized and effectively applied in different product based industries e.g., Aviation, Retail, Oil and Gas etc. However, services industries such as Banking, Finance and Insurance are still trying to tap the potential of these technologies in many different ways. One such way is to use AR and VR in executive level business decision-making process to gain operational efficiencies and lower services costs. Enterprise Architecture can play a key role in developing methods and ways in which these technologies can be applied. This is because typically Enterprise Architecture owns, develops and maintains different business and IT designs, models and strategic roadmaps. However, real challenge comes in while conceptualizing and developing different strategic models in a multi-dimensional environment. This is primarily because such conceptualization and model design requires representing abstract concepts of business capabilities, goals, mission, vision, strategic initiatives etc. in a physical real world model that depicts the interrelationships between such abstract concepts in simple and elegant ways. To address such issues, the philosophy of Holons and Informons can be applied to develop a real world model that depicts such abstract concepts. This paper tries to evaluate applicability of Holons for such a real world business scenario and presents a model that can be harnessed to effectively apply AR and VR to facilitate strategic business decision-making.