Assignment - Innovation and Sustainable Business Development
Added on 2020-03-01
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Running head: INNOVATION AND SUSTAINABILITYInnovation and Sustainable Business DevelopmentName of the Student:Name of the University:Author Note:
1INNOVATION AND SUSTAINABILITYIntroductionThe current world of business competitiveness has become much challenging for thebusiness marketers. The marketers often focus on structuring the organisational functionalities inorder to provide the best solutions (Gobble, 2014). We often wonder what exactly needs to bedone to maintain sustainability in this competitive business scenario. The clear and concise ideaof the business model innovation can be fruitful enough in developing the organisationalfunctionalities. However, we need to derive the complete understanding regarding the businessmodel innovations. The identification of the associated components would provide the insightfulknowledge about the method of business sustainability. Here we would discuss about theconceptual form of business model innovation and its significance in maintaining sustainability. DiscussionIn pre-classical times, the business model was conceptualized as the integral part of theeconomic and trading purposes. Apparently, the business model refers to the methods used bythe organisations for generating revenues (Casadesus‐Masanell & Zhu, 2013). In the realbusiness world, the business marketers generally deal with the basic components of the businessmodel. These basic components are:Charging Subscription FeesSelling purpose of the product or serviceSelling service contractsThese components are significantly helping the organisations to generate expected revenues.The business model innovation specifically concentrates on factors that are ensuring moreprofitability for the company in this competitive scenario. According to Zott, Amit and Massa
2INNOVATION AND SUSTAINABILITY(2011), Business Model is widely conceptualized as the description, representation, and astatement of the business world. Therefore, we can consider that the business model pays thecloser attention towards the following factors:It articulates the value propositions that are created while offering the products orservices to the customers. It identifies the relevant market segment for ensuring the purpose of selling. It defines the value chain structure while distributing the product and service to thecustomers. It estimates the profit potential and cost structure of the productsDescribes the competitive positioning of the firmStructures the competitive strategy for winning over the rivals in the business market. In the further section of the study, we would discuss the three major concepts of the businessmodel that have the significant impacts on the business functionalities. In this section of thestudy, we would provide the explanation of the conceptual analysis of three business modelcomponents. These three concepts are:e-business model archetypesBusiness model as activity systemBusiness model as revenue architectureThe e-Business Model Archetypes depend on the seven business fundamentals orpersonalities. The business model depends on these personalities during the development period.These seven business fundamentals are:Product
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