In "The Fifth Discipline," Peter Senge points out that many problems stem from faulty "mental models". Mental models are tacit knowledge, which may or may not comport with reality. Making them explicit (in records) may be a step in the right direction. However, simply recording them does not make them reality. Nor does it empower the scribe to impose his or her will upon others.
The point is that business goes on with or with out the formality of modeling. Indeed, particularly where human nature is involved, business models itself -- in the *records* that are created and preserved.
Thus, to a large degree, the issue is whether we're going to face reality ... or continue trying to live in a dream world of unattainable wishes.