Developing a Business Model for Success
Added on 2020-03-07
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Running head: BUSINESS MODEL1Business Model ConceptStudent NameInstitution
BUSINESS MODELS2Transcript for videoThe business model is as a precise way of explaining how an organization operates. It is agraphical or pictorial representation of core business activities, financial structures and how the activities relate to each other to ensure the firm functions effectively. The model shows how business, generates revenue, creates value and distributes the products and services produced. The model helps to identify activities that bring more profits, best strategies for marketing the products, identifying the ideal market for the products and even identifying viable business opportunities which the firm can invest in and ways of improving the products offered for customer satisfaction and also enable development of sustainable business development.Conceptualizing business model can help in solving static and dynamic problems. This is because business models help in breaking down complex dynamic problems. After the breakdown, the problems are well understood and analyzed to provide the best solution for addressing the various challenges facing the firm. The findings also showed that change is inevitable because the business environment is very dynamic. To fully explain that change cannot be avoided, Coca-Cola firm was analyzed to show the impacts of change. Finally, when making decisions concerning business models, managers should consider factors such as change is inevitable, technological changes and competition.
BUSINESS MODELS3Essay on the Business model concept.Business model is referred to a clear and precise way of illustrating how a company functions to fulfill its objectives. A business model presents a pictorial or even a graphical representation of an individual firm's core interrelated architectural, financial arrangement, activities of the firm and how they relate and cooperate to make the company operate efficiently. Most of the organization's main goals are to create value for their investors and satisfy customersand this can only be achieved by a having a clear and easy to understand business model (Botha, Kourie, & Snyman, 2014). The business model illustrates how a firm creates value, makes revenues and how the value created is distributed in social, economic, cultural and political aspects. This essay is written to illustrate the concepts of business model and how it can be used in value creation, value appropriation, innovation process and solving both static and dynamic problems. E-business archetype refers to the model that enables a firm to conduct business and even share information through the use of the internet. The firm sells its product via the use of computers as orders and payments are made through electronic means. The products offered by the company are advertised on the company's website and then the buyer or potential buyers select their preferred products from the website (Fielt, 2013). For a firm to fully adopt e-business model, it has to ensure that it has a secure payment system so as avoid online fraud that is associated with
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