Preview

Paper on Reinventing

Satisfactory Essays
Open Document
Open Document
464 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Paper on Reinventing
REINVENTING YOU BUSINESS MODEL

Part A. Basic Concepts and Ideas 1. Article covers the idea about reinventing the business model. Great business models can reshape industries and drive spectacular growth. Yet many companies find business-model innovation difficult. Managers don’t understand their existing model well enough to know when it needs changing or how to change. Article also covers the idea about building sustaining and successful company. 2. Business Model definition: A successful business model has three components a. Customer value proposition - The model helps customers perform a specific job that alternative offerings don’t address. (Ex: MinuteClinics enable people to visit a doctor’s office without appointments by making nurse practitioners available to treat minor health issues.) b. Profit formula - The model generates value for your company through factors such as revenue model, cost structure, margins, and inventory turnover.(TATA Group’s Nano car is profitable as they reduce many part and Vendors which reduced cost and sold the car in huge market) c. Key processes - company has processes rules, metrics, and norms that make the profitable delivery of the customer value proposition repeatable and scalable. d. Key resources – Company has the people, technology, equipment, information to deliver customer value proposition profitability.(Ex: 3. Identify when a new Model is needed a. An Opportunity to address needs which current proposition does not satisfy for large group of people (Ex: Scooter families in India cannot afford costly car in India). It may be new technology or to launch existing technologies in new market. b. A need to respond to shifts in competition or fend-off low end disruptors. 4. Decide whether reinventing your model is worth the effort. The answer’s yes only if the new model changes the industry or market.

Part B. Implications for

You May Also Find These Documents Helpful

  • Powerful Essays

    str 581 finals

    • 1770 Words
    • 8 Pages

    7) The value proposition consists of a cluster of benefits the company promises to deliver; it is…

    • 1770 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    Unit 5 P1

    • 443 Words
    • 2 Pages

    e) measurement of financial performance (gross profit, net profit, value owed to and by the business) N>B> Find out if M+S is making a profit or a loss and find up to date data…

    • 443 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    The value proposition - which involve the introduction of a new product or service to market or expand the existing supply (Gitman & McDaniel, 2007).…

    • 1104 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    Fp101

    • 614 Words
    • 3 Pages

    Summarize the article (75 to 100 words) Innovation in business models and designs attracting attention from different companies. Choosing a design that has high probability in success. Utilizing exsisting networks.…

    • 614 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    14. Good relations with intermediaries, good locations, and good salespeople are some of the many resources of a firm that should be evaluated…

    • 31492 Words
    • 126 Pages
    Good Essays
  • Satisfactory Essays

    Week 4 Midterm

    • 844 Words
    • 4 Pages

    A value proposition is a business or marketing statement that promises a value that the customer needs and will benefit from as a result. It is the marketing strategy to convince the consumer why the product or service is needed. An example of a value proposition is a company that may offer access to customer service 24 hours a day. Another more specific example is like the bank Huntington that offers 24 hour grace period for overdrafts. Value to the customer is important because it should evoke customer loyalty. Value propositions should provide the customer with some essential measure of need that leaves them with the belief that they will only primarily be provided with this value from this product or service more so than any other similar brand, product or service.…

    • 844 Words
    • 4 Pages
    Satisfactory Essays
  • Powerful Essays

    A value proposition in business and marketing is a statement summarizing the customer segment, competitor targets and the core differentiation of one 's product from the offerings of competitors. A company 's market contribution normally extends further than its core product to include services, programs and systems rudiments. Value Propositions essentially translates this market offering into a proclamation of the benefits a customer will derive (Barringer, 2010).…

    • 1376 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Unit 9 D1

    • 1327 Words
    • 6 Pages

    b) Evaluate and give at least two key points related to your organisation and your product…

    • 1327 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    In the first 3 chapters of the Business Model Generation (Osterwalder and Pigneur) book, the authors describe and analyze the canvas, patterns, and design of successful business models. After carefully reading and understanding these chapters, answer these research questions:…

    • 212 Words
    • 1 Page
    Satisfactory Essays
  • Powerful Essays

    1 2 3 4

    • 6374 Words
    • 23 Pages

    1- Write a list of the key systems and processes used within the organisation, or within one business unit of the organisation.…

    • 6374 Words
    • 23 Pages
    Powerful Essays
  • Powerful Essays

    6. In each of the following cases, select and explain appropriate business objectives. (bearing in mind that objectives change over time)…

    • 1797 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Customer Service

    • 1394 Words
    • 6 Pages

    Your task is to: Examine the criteria above, then: a) explain what key policies and procedures you have in your organisation relevant to the delivery of services or products.…

    • 1394 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Itil Version 3 Paper

    • 11361 Words
    • 46 Pages

    • a means of delivering value to customer by a means of delivering value to customer by • facilitating outcomes customers want to achieve • without the ownership of specific costs and risks…

    • 11361 Words
    • 46 Pages
    Good Essays
  • Satisfactory Essays

    Biocon Case Analysis

    • 987 Words
    • 6 Pages

    ▪ It would also be a chance to develop a new market and build new research and marketing capabilities which are essential long-term success of the company.…

    • 987 Words
    • 6 Pages
    Satisfactory Essays
  • Satisfactory Essays

    As a matter of fact every business model requires Key Resources. These resources allow us to create and offer Value Proposition –(___), match customers’ expectations, build and maintain relationships with Customer Segments and ,of course, earn revenue. Our business model is based on physical, financial and human key resources.…

    • 465 Words
    • 2 Pages
    Satisfactory Essays