Business Model Adaptability for Future Success
Added on 2020-03-01
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Running head: BUSINESS MODEL CONCEPT1Business model conceptStudent NameInstitution
BUSINESS MODEL CONCEPT2Video presentation fileThe business model concept highlights a framework or guideline that shows how a business entity operates on a daily basis. The primary purpose is to present a precise overview of firm's principal activities and operations, financial details and how the activities interact to propelthe business to the right so that it can accomplish its goals and objectives. The well-formulated business model will help an organization to be able to create value and distribute it optimally to the satisfaction of all involved stakeholders. The business model system when well utilized will result to innovative and creative ways of conducting business operations.From the findings gathered, business model should have e-business archetype. This will enable the organization to tap the online market which is growing rapidly. This archetype will also improve the sources of generating revenue which is one of the goals of many organizations. The business model should also be structured around the activities of the organization and that is the reason the model should have activity system that highlights the activities of the company. Cost and revenue architecture should also be given a lot of attention when making decisions concerning business model as it highlights avenues for generating revenue and minimizing cost.The business model can be used to solve static and dynamic problems facing many organizations. Due to inevitable change, the business context keeps on changing. This means thatthe model should be designed to accommodate future changes that face the organization. The change is due to technological development, competition, and rise in data volumes. Toyota company has been used to demonstrate how change is inevitable in organizations, the impact of change and what needs to be done when making decisions concerning business models in future.
BUSINESS MODEL CONCEPT3Essay on business model concept.The business model concept usually tries to explain how business organizes its activities so that it can operate efficiently to attain the set goals of the firm. The business model is a representation in the form of pictures or graphs to show important business activities and how they relate to each other, financial structures of the business and even key operations that bring competitive advantage (Fielt, 2013). The business model should be well analyzed before being developed because they a very important in showing how a company can create value and distribute it to the shareholders, manage change, competition and generate revenue. This essay is written to demonstrate how business model conceptualization can be used to promote innovation,value creation, combat change and solve dynamic and static problems.Understanding business models can help in creating value to many firms and even how toappropriate the value to the right parties. The business model system helps n identifying opportunities that a company can exploit. Using these opportunities enables the business to have new channels of creating value for the shareholders as the company can generate more revenue (Botha, Kourie, & Snyman, 2014). The business model also helps in identifying the market segment to be targeted. This enables the firm to appropriate the created value to the right customers and this helps to create more customer satisfaction and customer loyalty. The businessmodel system also helps in identifying the right partner to engage in business activities with.
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