Business Model and Business Development | Assignment
9 Pages2436 Words78 Views
Added on 2020-03-07
Business Model and Business Development | Assignment
Added on 2020-03-07
ShareRelated Documents
Running head: BUSINESS MODEL AND BUSINESS DEVELOPMENTBUSINESS MODEL AND BUSINESS DEVELOPMENTName of the UniversityName of the StudentAuthor Note
1BUSINESS MODEL AND BUSINESS DEVELOPMENTThe business model of any organization denotes a precise and clear picture of theoperational business of the organization. Precisely the business model is something thatincludes the principles of the business regarding the creation, delivery and the capture of thebusiness values in the context of the culture, economy and the society. Business model isconsidered as the part of the business strategies of the business organization. It is meant thatthe business model of any firm is the way of interpretation of the value proposition to theexisting for profitability and the revenue growth. In other way, business model is the meansof generating the rapid growth of the revenue for the organization (Schaltegger, Lüdeke-Freund & Hansen, 2012). The business model intents the purpose and the function of the business. Forcompleting rightly the function of the business, the business model requires a background andcontext. The most popular business models are based on the several business personalities orthe fundamental template that are called the business model archetype (Bocken et al., 2014).A business archetype is necessary to understand the business model of any organization.Primarily there are seven business model archetypes for understanding the categories of thebusiness, which are further divided into two sections, primary and the secondary. Thebusiness archetype suggests and makes way for the management of the business to plan theirstrategies according to the structural spectrum options. The overall and the basic purpose and objective of a business model is to focusing onthe creation of the business growth of the business, which is reflected in the value propositionof the customers. The involvement of the physical human recourses and the capital resourcesof the business model for the fulfillment of the business goals is considered to the activity ofthe business. The activity system of the business model entails the set of organizationalactivities that are internally dependent centering on the organization (Bocken, N. M. P.,Short, S. W., Rana, P., & Evans, S. (2014. The activity system executes the activities of the
2BUSINESS MODEL AND BUSINESS DEVELOPMENTfirm, vendors, customers and the partners of the business. The activity system includesseveral activities, which are interdependent, and this is the central concept of the businessactivity system. Interdependencies of the activities in the business model provides the clearvision of the activity system of the evolution process of the firm’s business over the long spanof time and expands the boundaries of the business un the competitive market of the constantchanging customers. These interdependent activities of the business model are generallyperformed by the business organization, but sometimes it can be the customers, partners orthe suppliers of the business. Moreover, the activity system of the business models definesthe prior consumers, potential partners and the suppliers (Bocken et al., 2016). The business model of the organization is based on various components. The revenuebusiness model is another major component, which is responsible for the revenue growth ofthe firm. The cost revenue architecture of a business model refers to the pricing strategies thatare responsible for generating the revenue o the business (Zhang & Lopez-Pascual, 2012).The business models and the revenue architecture of a business are internally linked. In fact,the business models and the revenue modes complement each other by determining thestrategies of pricing and the design of the product.. One of the major and popular revenuearchitectures is the ‘razor-blade model’ in the business model, which involves theinexpensive pricing razor and marks up the consumables (Meertens et al., 2012). The pricingstrategies and the generation of the cost revenue depend on the revenue architecture of thebusiness models.Total productive maintenance or TPM is a system defining the maintenance processof the organization in order to add business value to the organization. TPM is a major andprime factor of the business model, which ensures the work flow of an organization to gosmoothly. This maintenance process includes eight pillars or section, which denotes the entiresystem of maintaining the business from the employees to the equipment needed in a
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
NRMT90019 - The Concept of Business Model - Essaylg...
|9
|2192
|88
Business Process Modelling Article 2022lg...
|25
|8452
|33
Study on The Business Modellg...
|10
|6102
|98
Innovation and Business Development- Doclg...
|11
|1943
|39
Business Model and Key Findings for Desklib Online Librarylg...
|7
|574
|80
Innovation and Sustainable Business Development:lg...
|7
|2088
|91