Business Model Design and Implementation
Added on 2020-03-01
11 Pages2373 Words220 Views
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Running head: BUSINESS MODEL CONCEPT1Business model systemsStudent NameInstitution
BUSINESS MODEL SYSTEMS2Video TranscriptFrom the findings of this essay, it can now be noted that business model means a pictorialrepresentation of all business aspects. The aspects of an organization that can be represented include business activities, financial outlays, employees, partners, policies and procedures. The important objective of the business model is to show how these aspects interrelate to enable the firm operate efficiently and be able to achieve the set goals and objectives. a well-designed business model system that is well conceptualized can help a business in creating value, managing innovation process, solving dynamic and static problems and distributing the value.The effective business model system should have e-business archetype that will help to promote online transactions. This enables the business to have access to the online market which is growing rapidly due to people embracing advancements in technology and also because the internet is also expanding to accommodate as many users as possible. Business models should also be designed and developed by considering the activities that the company engages in. This will prevent the business from engaging in less economical operations that only waste company valuable resources.The business model should have effective cost and revenue architecture. This will enable the business to identify activities that are more profitable. This architecture will also be responsible for identifying innovative ways of generating revenue for the organization. The architecture will also enable the business to identify new business ventures that can help in diversification that minimizes chances of making losses. This architecture will also help the business to evaluate partners before engaging in partnership agreements.
BUSINESS MODEL SYSTEMS3Conceptualizing business model system according to the findings of the essay can help insolving static problems. Change is many business entities cannot be avoided and to business environment dynamics. The change is brought about by different factors such technological advances, competition, change of business strategies, changing the goals and objectives of the business. Coca-Cola Company was used to illustrate how change is inevitable and impacts of change on business models. When making decisions involving business models in future, managers should consider that change will occur in future and contingency measures should be developed to embrace the change.
BUSINESS MODEL SYSTEMS4Essay on business model systemsThe business model is defined as formal and informal representation of company's important aspects of the business. These aspects include business processes, business activities and operations, organizational structures, target customers and even business policies. The business model can be in the form of pictures, graphs, and sketches that show the aspects of the business and how the interact to enable the firm to accomplish its mission and vision (Al-Debei, & Avison, 2010). The understanding of business model systems concept enables a firm to find ways of creating value, how to distribute it and capture it. This essay is written to illustrate how conceptualizing business model system can be used to guide innovation process in business, solve static and dynamic problems that face the firm and to explain how different archetypes and architecture of the business model system help the firm to prosper.
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