Business Model Final 2

Imagine you are hired by a new start-up company. You are tasked to recognize and explore a new business opportunity of creating a new product or service for your company. As part of your new business vision, you will create a business plan describing all keys elements of the business opportunity which will ultimately be presented to an executive team in a venture capital group for possible funding and execution.

There are two obvious business models. These models are company-operated and franchise. A quick definition of a company operated business would be a startup, or business owned by an individual. A franchise is a business model that involves ones one business owner selling the licensing and trademarks and methods to an individual businessperson.

Business model defines the process by which the business enterprise or an organization creates, delivers and captures the value, which excites the customer to pay for the value provided and converts those payments into profits. In simple terms business model is a simpler representation of a business logic which represents what an enterprise offers to customers, how it reaches them, through which activities, resources and partners it achieves the value and how it earns money.

A business plan is a road map for a team or business and it can be used, as an eternal tool for potential customers and partners. The business plan should describe in details the entire business venture, technology behind it, the size of the target market, customers, competition, business model, team, financial needs and exit strategy. The business plan gives a company insight and allows them to think things through early enough in the process to ensure they have a well defined venture goals and objectives. It also gives the business direction to a clear path for the team to follow and implement on their venture.

Business model design and innovation is a multi-faceted topic that goes beyond the products or services a company sells. It requires the firm to analyze the desires of the customers, required and available resources, and to subsequently develop a business model in line with these findings. The ultimate objective of this exercise to create growth and obtain greater profitability. Business model innovation is derived from one of the four strategic objectives outline the textbook by Osterwalder and Piqneur. These four objectives include identifying and solving a need which the market has not resolved, offering a new product or service that customers did not have access to before, to improve options available to the existing

A clear business model for the company plays a major role for us in order to get better understanding of the business that we will work for.

These days, due to the large number of providers of business modeling tools on the market, choosing the right tools is not easy. As the first step, companies need to know their technical and business needs and according to these needs they can provide the right tools for the company.

The model helps to create value for customers to be able to find the required resources such as, financial resources, human resources & physical resources.

The business model canvas can be described as a chart divided in blocks that gives the possibility to understand the business model of a

Creating a successful business model requires a wide variety of detail. Numerous businesses decide simply to enter a market with standard practices and standard products that are related to a particular product or service, however, countless others attempt to innovate by creating new services or business models. Innovation is done through small-medium enterprises (SME) or through innovation-driven enterprises (IDE). The following paper will examine two broad firms and their various details regarding benefits and risks. Innovation will be addressed in developing countries, in addition, how firms can create a culture of innovation to support this business model. The concern regarding government involvement will be explored, and

The Business Model Canvas is a coherent framework that comprises holistic perspectives, elements, relationships and logical expression of a specific entrepreneur in generating, delivering and capturing values (Osterwalder, Pigneur & Tucci 2005). Through this business model, business can assess and bring innovation to their business concept.

BM is important for the business because BM ability to ensure socially useful goods, services and save its cost at scale. This is in order depends on some factors:

RQ1. The business model (BM) delineates the logic of how an organization creates, acquires, and delivers value and facilitates the organization’s strategy implementation through the organizational structures, processes, and systems (Osterwalder & Pigneur, 2010). The BM seeks to establish and maintain a relationship with a targeted demographic through the provision of benefits that solve a problem or meets a need. This value proposition is available through key resources, activities, and partnerships in respect to the cost structure and is delivered to the customer through channels; the value proposition returns to the organization in the form of revenue stream.

Features • High Performance, Low Power Atmel®AVR® 8-Bit Microcontroller • Advanced RISC Architecture • • • • • • • • • – 131 Powerful Instructions – Most Single Clock Cycle Execution – 32 x 8 General Purpose Working Registers – Fully Static Operation – Up to 20 MIPS Throughput at 20MHz – On-chip 2-cycle Multiplier High Endurance Non-volatile Memory Segments – 4/8/16/32KBytes of In-System Self-Programmable Flash program memory – 256/512/512/1KBytes EEPROM – 512/1K/1K/2KBytes Internal SRAM – Write/Erase Cycles: 10,000 Flash/100,000 EEPROM – Data retention: 20 years at 85°C/100 years at 25°C(1) – Optional Boot Code Section with Independent Lock Bits In-System Programming by On-chip Boot Program True

This section of the proposal requires classifying the category or business discipline in which the proposed business would fall in. In my view in order to develop or introduce a new product/service Ansoff’s Business Matrix would be a good strategic approach to screen and narrow the choices. This tool will be helpful in effective business planning.