Rekstrarhugtakið

Rekstrarhugtakið is an Icelandic term used in business, economics and public administration to refer to the overarching framework by which an organization conducts its day-to-day activities. The phrase combines rekstur (operation, running) with hugtakið (the concept) and is applied to describe how an organization organizes its activities at a systemic level.

The concept encompasses the design and management of core processes such as production or service delivery, procurement, logistics, and maintenance, as well as supporting functions like human resources, information systems, finance, and administration. It also includes governance mechanisms, including controls, risk management, and performance measurement. In practice, rekstrarhugtakið is often discussed in relation to strategic planning, budgeting, and the development of an operating model that aligns resources with organizational goals.

In usage, rekstrarhugtakið serves as a lens for understanding how organizations coordinate activities to create value efficiently. It is relevant to both private enterprises and the public sector, where the term can describe organizational arrangements for service delivery and performance management. The concept is valued for highlighting the interconnectedness of processes and resources, though critics note that it can be vague unless clearly defined with scope, processes, and indicators. See also: operations management, operating model, business model, and public administration.