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Innovation And Sustainable Development

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Question:

Discuss about the Innovation and Sustainable Development.
 
 

Answer:

Introduction

Establishment of the business model innovation is the integral part of the organisational functionalities. The business model innovation is not depended on the technological implementation or any new business market. It improves the existing products that were produced by the existing technologies to the existing business market (Barquet et al., 2013). The continuous changing scenario of the business model innovation sometimes can be invisible to the people worldwide. It is one of the most efficient processes of developing such a new feature that cannot be replicated by the competitors in this globalised business scenario. The study will provide the insights regarding the business model innovations by obtaining ideas from the relatable sources.

Discussion

The business model is conceptualized as the clarified and concise manner of portraying the business operational process. The management team of every organisation needs to explain the particular business model for the improvement of the organisational functionalities (Morris et al., 2015). It is noted that every organisation strive to offer the remarkable value to the customers. Maintaining the strong value proposition is effective enough in strengthening the customer base in this competitive market. Hence, the business model is formulated to achieve such purposes.

It is implied that the business model development is associated with several factors, such as strategic choices, value network, creating values, and capturing values. The strategic choices are made by concentrating on the value proposition, customer focus, competitors, revenues or pricing structure, branding differentiations, relevant strategy, output, and mission (Bankvall, Dubois & Lind, 2017). Another major factor is value network, which contains the customer information, suppliers, flow of the information, maintenance of the customer relationship, and flow of the product or services. The next component is creating values that include the organisational functionalities and the availability of the resources in the organisation (Fielt, 2014). The final component is capturing values that determine the financial aspects, costs, and profits. The organisational management needs to keep the focus on such components to develop the business model. The innovative process is necessary to participate in a competitive position and win over the giant competitors in the business market. The business model system is involved with different technicalities and different process flows. Identification of such process flows will be much helpful in recognizing the diverse levels of the business dynamics utilized by the higher management authority.

The business dynamics refer to the capability of the business functionalities to accomplish the pre-determined goals. When business model acts as the system approach, it helps in resolving the emerging problems with the dynamic and static factors (Farahani et al., 2014). The spreadsheet presented by the managers for the business model development provides the solution to address the logic-based issues within an organisation. The managers can be able to analyze the critical components. Moreover, gathering the information regarding critical assumptions of the business will be helpful for resolving the issues with business dynamics. It is essential for the business to conduct the business research to resolve the static problems. Maintaining the strong value proposition is effective enough in strengthening the customer base in this competitive market.

The strategic choices are made by concentrating on the value proposition, customer focus, competitors, revenues or pricing structure, branding differentiations, relevant strategy, output, and mission

It is to be indicated that the business model system helps in understanding the partnership of the firm. The use of the business model canvas would be beneficial for the entrepreneurship businesses in identifying the appropriate partnerships. The innovative process is necessary to participate in a competitive position and win over the giant competitors in the business market. The business model system is involved with different technicalities and different process flows.  It is essential to pay attention towards the dynamics and the capabilities to perform in a better way. Hence, the selection of the partner is necessary to identify the capabilities in a win-win situation. In fact, the method is also needed to be selected in a significant way. Maintaining the strong value proposition is effective enough in strengthening the customer base in this competitive market. The strategic choices are made by concentrating on the value proposition, customer focus, competitors, revenues or pricing structure, branding differentiations, relevant strategy, output, and mission

It is necessary to identify the most helpful partnership types, such as joint ventures, strategic alliance, or franchising process (Lippert & Govindarajulu, 2015). Identification of the method would be helpful enough for the company to understand the key partners of the firm.

The business model system is also much important for analyzing the innovative process adopted by a firm. It helps in understanding the set of business functionalities that can ensure the business sustainability in a global competitive market (Boons & Lüdeke-Freund, 2013). The innovative process is necessary to participate in a competitive position and win over the giant competitors in the business market. The business model system is involved with different technicalities and different process flows. Identification of such process flows will be much helpful in recognizing the diverse levels of the business dynamics utilized by the higher management authority.

 


Mitsuru Kodama, in his article named Boundaries Innovation and Knowledge in the Japanese Firm pointed out that the Japanese firm is paying the attention towards re-organizing the organisational functionalities in a global context. It is noted that the Japanese firms have set their aim to strengthen the competitive position in the international business ground. The article clearly presents the progression of the competency level in different sectors. The article specifies the effectiveness of the “knowledge integration firm” that helps in restructuring the corporate functionalities in a cohesive way (Kodama, 2009). The argument present in this article is highlighting the implication of the proper and suitable integration process that are concerned with the alignment process of different business entities. Obtaining ideas from the diverse sources would be beneficial in ensuring the dynamic changes. The study also exclaims about the corporate obligations that create the errors in human networks. The innovative process is necessary to participate in a competitive position and win over the giant competitors in the business market (Itami & Nishino, 2010). The innovative process is necessary to participate in a competitive position and win over the giant competitors in the business market. The business model system is involved with different technicalities and different process flows. Identification of such process flows will be much helpful in recognizing the diverse levels of the business dynamics utilized by the higher management authority.

On the other hand, the article named “Killing two birds with one stone” is providing thee insightful ideas about the product or service delivery processes. The article is providing the effective views about the current scenario that the company has been facing while talking participation in the competitive environment. In order to provide a proper service or products to the customers, it is essential to understand the basic needs and demands of the customers. The spreadsheet presented by the managers for the business model development provides the solution to address the logic-based issues within an organisation. The managers can be able to analyze the critical components (Itami & Nishino, 2010). Moreover, it is even essential to establish the proper business model that can be helpful enough encouraging the value added services for the customer products. Accordingly, the firm will be able to strengthen their position in the global competitive ground. However, it is also essential for the organisation to determine the sufficient resources that are essential to lead the organisations towards competitive approaches. The article is also highlighting the appropriate business model that can help the organisation to gather revenues for the future prospects,, the article creates the vision regarding the core assets of the business which are intangible. The identification of the core competencies would be essential for securing the competitive position of the firm in the global context.

Conclusion

The continuous changing scenario of the business model innovation sometimes can be invisible to the people worldwide. It is noted that every organisation strive to offer the remarkable value to the customers. It is implied that the business model development is associated with several factors, such astrategic choices, value network, creating values, and capturing values. The spreadsheet presented by the managers for the business model development provides the solution to address the logic-based issues within an organisation. The managers can be able to analyze the critical components. The use of the business model canvas would be beneficial for the entrepreneurship businesses in identifying the appropriate partnerships. . It is essential to pay attention towards the dynamics and the capabilities to perform in a better way. Hence, the selection of the partner is necessary to identify the capabilities in a win-win situation. . It is noted that the Japanese firms have set their aim to strengthen the competitive position in the international business ground. The article clearly presents the progression of the competency level in different sectors. The spreadsheet presented by the managers for the business model development provides the solution to address the logic-based issues within an organisation. The managers can be able to analyze the critical components.

 

References

Bankvall, L., Dubois, A., & Lind, F. (2017). Conceptualizing business models in industrial networks. Industrial Marketing Management, 60, 196-203.

Barquet, A. P. B., de Oliveira, M. G., Amigo, C. R., Cunha, V. P., & Rozenfeld, H. (2013). Employing the business model concept to support the adoption of product–service systems (PSS). Industrial Marketing Management, 42(5), 693-704.

Boons, F., & Lüdeke-Freund, F. (2013). Business models for sustainable innovation: state-of-the-art and steps towards a research agenda. Journal of Cleaner Production, 45, 9-19.

Farahani, R. Z., Rezapour, S., Drezner, T., & Fallah, S. (2014). Competitive supply chain network design: An overview of classifications, models, solution techniques and applications. Omega, 45, 92-118.

Fielt, E. (2014). Conceptualising business models: Definitions, frameworks and classifications. Journal of Business Models, 1(1), 85-105.

Itami, H., & Nishino, K. (2010). Killing two birds with one stone: profit for now and learning for the future. Long Range Planning, 43(2), 364-369.

Kodama, M. (2009). Boundaries innovation and knowledge integration in the Japanese firm. Long Range Planning, 42(4), 463-494

Lippert, S. K., & Govindarajulu, C. (2015). Technological, organizational, and environmental antecedents to web services adoption. Communications of the IIMA, 6(1), 14.

Morris, M., Schindehutte, M., Richardson, J., & Allen, J. (2015). Is the business model a useful strategic concept? Conceptual, theoretical, and empirical insights. Journal of Small Business Strategy, 17(1), 27-50.

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