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Understanding Business Models and Big Data

   

Added on  2020-03-01

2 Pages844 Words50 Views
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1.Business model:I have understood from my research that a business model is a concise and distinctway of picturing the way in which a business operates.It is just a mean of translating the value proposition provided to customers into apotential for swift revenue growth.According to management expert, Peter Drucker, a business model provides answersto the following questions: Who is the customer? What does the customer value?How value is delivered at an appropriate cost?2.E-business modelRegarding E-business, it implies doing business electronically.Only those business that are into commercial transactions with their customers andbusiness partners are considered as e-businesses.It is widely known, as I have found,that the recent advancements in communicationand information techniques have made it possible for the development of new andinnovative ways of creating and delivering value.3.Activity system modelI found that the overall aim of the business model of any focal firm is exploiting anybusiness opportunity in creating value for the involved parties. In these type of firms an activity in a business model is regarded as humanengagement, physical and/or material assets of any of the party to the business model,for serving any particular purpose for the fulfillment of the whole objective. An activity system is therefore a set of codependent organizational activities focusedon the firm, as I have understood, comprising those carried out by the firm, theirpartners, suppliers or consumers4.Cost/revenue architecture modelIn analyzing business models in terms of cost/revenue architecture, I found that theycan be addressed in the domains of innovation and technology management.Business models not just entails outcomes for technological innovations, they evenget shaped by them. Businesses also can consider the business model as an origin of innovation in and ofitself.5.Dynamism in business modelWhile exploring the components inside business model I did a thorough assessmenton how the sensing, seizing and transforming competences of the firm can be madeuse of for bringing dynamism to every component and even to the wholeorganization’s business model.Some of the components are capable of fostering dynamism, others are capable ofimpeding dynamism. Pursuit of dynamism in organizations in one aspect often goes on to the initiation ofdynamism in several other aspects. 6.Business contextFrom my research I have understood that business context is a type of context wherea particular vocabulary is engaged. This might be an individual organization, aspecific project, or a larger business community.
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