Responsight Business Model: Nine Building Blocks and Success Factors

This report explores the business model of Responsight, focusing on the nine building blocks and success factors. It discusses the interrelationships between these blocks and the downside risks. The report also highlights the importance of agile and lean management concepts in driving business growth. The recommended changes in the business model are also discussed.

Think Big 1
Think Big

Think Big 2
Executive Summary
This report discovers the Responsight business model by focusing on nine component of
business model canvas approach, to recognize the features that had such an instantaneous impact
on Australian technology. The research on the assignment depends on publically available
information. There are various factors of the aspect that has influenced the revenues that is why
the discussion is made on them. Nine building blocks of business model are elaborated in the
assignment in order to demonstrate the importance of them in the context of Responsight
Company. Interrelationship is defined under this assignment in order to interconnect the relation
of nine blocks of business model to the factors of Responsight.
There are some success factors of each company through which they can get growth in future
and can perform effectively at present as well. Agile and lean management concepts are
considered as they are helpful in making good planning for the company to increase the business
growth. Downside risks are elaborated the level of risk in the view of Responsight so that
appropriate actions can be taken. There should be changes in the business model of the company
time to time so that the company can move towards right track of growth.

Think Big 3
Contents
Executive Summary.........................................................................................................................2
I. Introduction..............................................................................................................................4
II. Business model.........................................................................................................................4
A. Building blocks.....................................................................................................................4
1. Customer segments...........................................................................................................4
2. Key partners......................................................................................................................4
3. Value proposition..............................................................................................................4
4. Key activities.....................................................................................................................5
5. Key Channels....................................................................................................................5
6. Revenue streams...............................................................................................................5
7. Cost structure....................................................................................................................5
8. Key resources....................................................................................................................5
9. Customer relationships......................................................................................................5
B. Interrelationships..................................................................................................................5
C. Critical success factors.........................................................................................................6
D. Downside risks......................................................................................................................6
E. Business model changes.......................................................................................................7
III. Conclusion and Recommendations.......................................................................................7

Think Big 4
References........................................................................................................................................8
Appendix..........................................................................................................................................9

Think Big 5
I. Introduction
The report depicts the importance of the business model canvas in the context of improving the
strategy of the company. Responsight Company is chosen for this assignment in order to draw
attention of people towards managing the task by using business model canvas. Responsight has
specialization in detection of security breaches at an advanced level. The business model
facilitates organization to earn revenues in a significant manner. It facilitates in obtaining
investors and building partnership to the entrepreneur (Crunchbase, 2018). The discussion will
be made in the paper related to the critical success faction in an effective manner. The financial
risks are approached by this paper to define the downside risk. Along with that the concept of
lean and agile management will be demonstrated as they foster teams to innovate and deliver
value faster.
About Company
ResponSight is a data science company that has main focused on confront of identifying security
breaches in corporate networks by using behavioural analytics. Jeff Paine was the founder of the
company. The approach of the company is modern that focuses on evaluating user activity and
machine. The company adopt latest metrics and statistical data to decide a behavioural
fingerprint. In case of identifying different fingerprint, the alarm raised (Responsight, 2018).

Think Big 6
II. Business model
A. Building blocks
1. Customer segments
The target of the company is on those segments, which is working in the digital industry.
Advanced version of Digital Security is being offered by the company so that every company
can get protection for their data from attackers and malware. An entire market segment that is
working with digital partnership for its business reason, is the target consumer fragment for the
business. The company supports existing investments and provides insight to the business and
technical stakeholders.
2. Key partners
The Responsight Partner Program has been framed to provide rewards to amplify opportunities
for partners to get attention towards new clients into enduring business relationships. The
company has Shearwater, the missing link, gridware, Cyber Aware and Aleron in the form of
partners. Along with that, the company has Siemonster, as a technology partner. All partners of
the company are concerned about cyber security system, which helps Responsight to perform in
well-efficient manner in order to satisfy the customers.
3. Value proposition
 The company has value for their customers to secure their information from attackers.
 Increase the security system to make advanced procedure in the organization
 Allow their customers to take a action through feedback in case of not getting for what
they are promised to give.

Think Big 7
4. Key activities
The standing of the company's partner market helps in joining most of Australia's security
customers for company enlargement (Payne, Frow & Eggert, 2017). Organizations are
susceptible to commercial and personal data, and IP assets are at high risk of dissolution, so the
company is protecting against all these threats. The most important thing is that the brand value
of an organization is protected with such violations (Joyce & Paquin, 2016).
5. Key Channels
The key channel is the term of the business that helps to promote the products and services of the
company. The company involves their partners to introduce them self in front of corporate
offices. It is helpful in focusing on the target people.
6. Revenue streams
The company has obtained a sum fund of $2.9 million. The company had already got $1.15
million from Seed Funding programme developed by Carthona Capital pursued by Black Sheep
Capital.
7. Cost structure
The company includes all expenditures such as employee’s salary, application development
expenses and marketing expenses in its cost. The cost structure of the company impacts on the
entire strategy of the company.
8. Key resources
The company has various resources such as Data Sheets such as Corvum suite data sheet,
corvum data analytical engine data sheet and White papers such as Data Science and AI
Solutions for Cyber Security and the Pragmatic use of Cyber Risk as a Business Decision Tool

Think Big 8
(Responsight, 2018). Along with that, corvum collector, corvum aggregator, corvum analutic
engine are major resources through which the company are performing in well-effective way.
9. Customer relationships
The partner companies are helpful in maintaining the relationship with the customers for a long
period (Dudin, Lyasnikov, Leont'eva, Reshetov & Sidorenko, 2015).
B. Interrelationships
All nine blocks of the model are interrelated with each other of the company for the single
purpose of development of the company. Consumers’ value is directly related to the customer
segment in order to expand business with the company's partners (Hassan, 2012). The major
resources available to the company are openly exaggerated by the business partner of the
company because more participation will be available to the company. Likewise, the distribution
channel of the partners can be taken in use by the company for the purpose of promote the
services and products of the company to the market.
C. Critical success factors
The company has reached up to their goals due to success factors. The organization is related to
the data science organization that pays attention on the threat of identifying security breaches in
corporate networks by taking consideration of behaviour analytics. The use of advanced
technology by Responsight is the main success factor of the company that facilitate them to
reach their goals. It has been found that there are number of organizations that are facing
challenges in the context of functioning of the employee and linking remotely. The companies
prefer Responsight Company in order to overcome the challenges so that they can handle client
data and build brand reputation. Moreover, there is strength with the company in which they can

Think Big 9
incorporate its forces with other safekeeping technologies (Hanemann, Sayre & Dale, 2016). It
improves data feeds and APIs to provide quality data to various threat intelligence and security
incident.
Along with that the company has adopted the lean management principles that are connected
with agile development. Short feedback loops make sure that teams of the company spend their
most of the time to meet the business requirements (Highsmith, 2009). Lean thinking motivates
this elaboration of waste: in case of not giving payment by the customer for the services, it is
waste (Hicks, 2007). Short feedback loops between agile developers and their stakeholder
facilitate them to develop good habit of eradicating processes and activities that do not provide
direct outcome in customer value (McCann, Hassard, Granter & Hyde, 2015). Along with that
the company is concerned about agile management because with the help of this, the company
can deliver requirements iteratively throughout the project life cycle (Vlaanderen, Jansen,
Brinkkemper & Jaspers, 2011).
D. Downside risks
The downside risk is an opinion of security to understand a decrement in product and service
value; if there is transforming conditions in the market (Emerick, de Janvry, Sadoulet & Dar,
2016). Downside risk depicts the worst scenario to the company in the context of losing financial
investment. Responsight can go through with the internal risks linked to employees because, they
can open the gateways. Due to this activity, the third party can penetrate and use the data
(Duncan, 2015). The claim of the customer in the context of defection in technologies can affect
the brand image of the company. It is quite hard to deal with a widespread network of data to the
organization, which might fail in contributing its services effectively.

Think Big 10
E. Business model changes
In the context of making changes in business model, the company should keep focus specifically
on some blocks of business model that are value proposition, revenue streams, customer
relationship and key activities. These are major block of business model that can change an
entire structure of the company in an appropriate manner (Aversa, Haefliger, Rossi & Baden-
Fuller, 2015). It has been found from above analysis that the customer segment of the company
is a digital market and for this, the company can enlarge its business by developing other kind of
security technologies.
III. Conclusion and Recommendations
It has been concluded from above discussion that business model has noteworthy role in the
growth of the business and for this; the discussion has been made on each nine block of the
business model. This company is new one in the digital industry that is why it is necessary for
the company to keep focus on latest amendments in technology so that the customer can link
with them for a long period.
The recommendation is made to the company to keep focus on the main aspect to attain precise
particulars of the activity of the user so that the company can provide the detail in significant
manner in case of requirement. It can be completed on a requisite basis; or else, one can take
recompense of it in an illegitimate way.

Think Big 11
References
Aversa, P., Haefliger, S., Rossi, A., & Baden-Fuller, C. (2015). From business model to business
modelling: Modularity and manipulation. In Business models and modelling (pp. 151-
185). Emerald Group Publishing Limited.
Crunchbase, (2018). Overview: Responsight. [Online]. Retrieved
from:https://www.crunchbase.com/organization/responsight.
Dudin, M. N., Lyasnikov, N. V. E., Leont'eva, L. S., Reshetov, K. J. E., & Sidorenko, V. N.
(2015). Business model canvas as a basis for the competitive advantage of enterprise
structures in the industrial agriculture. Biosciences Biotechnology Research Asia, 12(1),
887-894.
Duncan, I. (2015). Downside of Internet of Things includes security risks. [online] Retrieved
from: https://www.seattletimes.com/business/technology/downside-of-internet-of-things-
includes-security-risks/.
Emerick, K., de Janvry, A., Sadoulet, E., & Dar, M. H. (2016). Technological innovations,
downside risk, and the modernization of agriculture. American Economic Review, 106(6),
1537-61.
Hanemann, M., Sayre, S. S., & Dale, L. (2016). The downside risk of climate change in
California’s Central Valley agricultural sector. Climatic Change, 137(1), pp.15-27.
Hassan, A. (2012). The Value Proposition Concept in Marketing: How Customers Perceive the
Value Delivered by Firms – A Study of Customer Perspectives on Supermarkets in

Think Big 12
Southampton in the United Kingdom. International Journal of Marketing Studies 4(3) pp.
8-16.
Hicks, B. J. (2007). Lean information management: Understanding and eliminating
waste. International journal of information management, 27(4), 233-249.
Highsmith, J. R. (2009). Agile project management: creating innovative products. Pearson
Education.
Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design
more sustainable business models. Journal of Cleaner Production, 135, 1474-1486.
McCann, L., Hassard, J. S., Granter, E., & Hyde, P. J. (2015). Casting the lean spell: The
promotion, dilution and erosion of lean management in the NHS. Human
Relations, 68(10), 1557-1577.
Payne, A., Frow, P., & Eggert, A. (2017). The customer value proposition: evolution,
development, and application in marketing. Journal of the Academy of Marketing
Science, 45(4), 467-489.
Responsight, (2018). About the company. [Online]. Retrieved from:
https://www.responsight.com/company/.
Responsight, (2018). Partners. [Online]. Retrieved from: https://www.responsight.com/partners/.
Vlaanderen, K., Jansen, S., Brinkkemper, S., & Jaspers, E. (2011). The agile requirements
refinery: Applying SCRUM principles to software product management. Information and
software technology, 53(1), 58-70.

Think Big 13

Think Big 14
Appendix