Question

The concept propounded by John Von Neumann

Answer 1

John Von Neumann in 1940s introduced the Von Neumann architecture for the computers.  The computers use this architecture even now.  This is called the stored program concept.

A program and its execution consist of computational instructions and data (input, output, intermediate results).

The concept is that a program and data can be stored in a binary format in memory device in a series.  The program instructions can fetch an instruction, execute it and store intermediate results in the memory device.  Then program fetches the next instruction and repeats the process, until the program ends.