logo

Innovation and Sustainable Business Development:

   

Added on  2020-03-13

7 Pages2088 Words91 Views
[INNOVATION AND SUSTIANABLE BUISNESS DEVELOPEMENT][Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically ashort summary of the contents of the document.]xxxxxxxxxxxxxxxxxx

In today’s time, competition amongst businesses is at an all time high. Technology, innovation, better customer service have made organizations thriving for perfection in every field they touch.This is where the concept of business model comes in. It basically means how a company operates and functions in order to generate enough revenue and profits. The term “business model” has no fixed definition. In the late 1980’s when more and more people started becoming acquainted to personal computers and felt that they could easily configure business revenues, prices, incomes and profits. “A business model is a clear, concise way of picturing how a business operates[ CITATION Bri13 \l 1033 ]”. A business model does not necessarily need to be defined or written down when an organization is started. As with any business, growth and change in technology bring about a lot of changes in the way a business organization functions. Thus, the business model keeps on changing and evolving with time.By definition, the word “archetype” means a typical example of something. Therefore, an e-business archetype would mean a type or category of business defined by certain characteristics that are unique. “There are three primary personalities that describe the fundamental interests andactivities of every business [ CITATION Nea13 \l 1033 ]”, namely trade, product and service. These can further be categorized into three sub-sets namely subscription, marketplace and brokerage.

An activity in a business model can be defined as work done by the people in the organization to run the business. “An activity system is thus a set of interdependent organizational activities centered on a focal firm, including those conducted by the focal firm, its partners, vendors or customers, etc.[ CITATION Chr10 \l 1033 ]”. This activity system enables a business organization to create a better product or service, meet the demands of the consumer in a much better way and increasing profits.A business model can also act as cost-revenue architecture. Any business organization, even before coming into the business, strategizes on how they are going to be generating revenue while at the same time cutting back on manufacturing costs and yet providing quality product to the customer. Static and dynamic problems occur in any business organization. While static problems are simple and related to a single task, dynamic problems can be multifold and a bit more complicated as well as time consuming. Business models can be built in such a manner that they can guide and provide solutions to both static as well as dynamic problems. While static problems are simpler, less complicated and do not impact other activities within a business organization, dynamic problems are multi-fold. A dynamic problem can be described as a problem upon a problem upon a problem. In terms of computer technology, the terms tic” and “dynamic” are applicable to a number of things. These include, websites, webpage and programming languages amongst others. Change is inevitable, be it business or any other aspect of one’s life. “In fact, many business gurus argue that businesses now face increased levels of dynamic change[ CITATION Gil12 \l 1033 ]”. With modern technologies spreading like wildfire, businesses need to upgrade themselves and how they work frequently. Due to advancement in technology, more and more businesses are seeing a change in their work processes, the technology and equipment utilized bythem as well as the skill set of their workers. Gone are the days when businesses used to store all their information and documents in files and folders, fill out forms manually and could do away without using technology. In today’s world every single business, be it a small scale factory or a multi-national company, every business organization has upgraded itself and equipped its workplace with machines and computers. In a world where information is so easily accessible

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
LMMEI 077450D- Innovation and Sustainable Business Development- Essay
|7
|2099
|63

A A A [Draw your reader in with an engaging abstract] [Document title] [Document subtitle] Business Models - Definitions Definition Resea
|7
|787
|284

BUSI 5190 - Assignment On Business models and dynamism
|7
|2118
|42

Concept of Business Model | Paper
|7
|2055
|41

MBA 660 - Essay on Innovation and Sustainable Development
|8
|2062
|44

ENTR 6077- Business Model of an Organization
|9
|2105
|40