Business Model Innovations and its Strategies Samples for Students

Question: Discuss about the Business Model Innovations and its Strategies. Answer: Week 3: According to the video used as the source of information, business strategy is an idea set out by an organization or an individual, with the necessary means to be used to achieve the best desires or goals set up in the business market. In other words, it can be described as plans to be implemented by a business group, business plans. With the current generation, we leaving in, where technology has a great impact in peoples way of life, competition has been greatly experienced. One of the key points learnt from the electronic source of information is that, business strategy is majorly concerned in the major issues affecting an individual or an organization. An example of an issues affecting an organization include, finance or enough income to improve its services and products (David, 2011 p.57) An example of a business company which includes the coca cola company. Some of the business strategies that are focused with this type of business company are the deciding on the right best product services to be used in the allocation of the resources at their disposal. This is a company that its main product is a drink. A company that has been of existence from my years back its main aim throughout in time was majorly based on provision of products and service to meet its customers taste. It is a company that has already established good producer client relationship in the drinks business market (Shiv, 2008 p. 91). One of the major strategies deployed by this kind of organization is the concern in the scoping of the current business activities. These scopes are what ways to improve their products and how to market in case of a production of a new product. Change in time zone has made the coca cola company to improve in its production too. The companys major aim is, retaining its (Mathur, 2012 p. 63). original long time clients. Strategic plans that are helpful to this company to the current market are only based on two dimensions. One includes the growth of the business. With an increase in the production of different drink products in the business market, competition has been a major challenge in enabling a companys growth (John, 2008 pg 102). Strategies to be implemented should be based at improving the companys market state by being top in the competition. Another factor is the globalization or in other words spreading of its products and services to other countries (Jeremy, 2009 p.77). Safest way to ensure that a product stick to the markets is through focusing the product internationally. Research carried out, it shows that most of the business organizations are recorded to be successful in their products and services through doing their transactions in the international market. Week 4: In reference to the video as the source of information, business model innovations are defined as formation and implementation of new and developed strategies targeted in the introduction of new, unique and supportive concepts on the financial state of an organization. Main reason for implementation of business innovations to a business company is based on income as a challenge curbing the development of the industries. Innovation is expensive since implementation requires expertise and the know how one must prepare to invest. The ideas are to enable an individual to realise new revenue sources available at their disposal, by improving the value of their products and how these products are to reach the customers (Great Britain, 2010 p. 20). Moreover, this video argues that in order to be successful in fulfilment of the innovations set by a business organization, technological services could greatly be of assistance. This is a factor that is forcing many companies to focus on creative ideas on the business ideas to enabling them to stay competitive and facilitating their growth in the market. Technology keeps changing and for a company to be successful they have to be on top of the game. Companies must accept this competition from all over the world and use this to expand and increase their profitability. In reference to the source of information, with technology considered as a concept in the business structure, it is a factor that is implemented by organizations in their daily endeavours. The current wold is impacted by the digital era of which it has become a topic of discussion for the business innovations as it has made them become impetus. An example of a business organization that is related in the video is the banking system. Its major aims which include provision of financial assistance to business organizations (Shiv, 2012 p. 70). Ways of their provision of assistance includes; provision of soft loans and the provision of advice on how to spend their income. These advices maybe through offering of safe storage of their income or providing them with a plan layout on how to budget on the available income. Banks are considered as a way to be innovative in the current market structure (Marilyn, 2013 p.89). This diversity in services provision in the digital age requirements is an alignment of information technology in the technological adversity. Business objectives of these system with ultimate goal, is to try and improve business organizations available in the market structure through assisting them in their financial status as their challenge. Diversity means that everyone is the society no matter their class and background are considered and factored in to provide a service and product that fits them both. As a result, with the relation between banking system and the digitalised technology, top technology individuals have come up with different creative ideas and know how to use in the existing technology in support of business innovations methods. With this in mind, profits are increased, services provided are better and consumers are happy with the services delivered. References David, C., 2011. Business Strategy: An Introduction. Palgrave Macmillan. Great Britain, 2010. Department for Business, Innovation and Skills. The Stationary Office. Jeremy, K., 2009. Business Strategy: A guide to taking your business forward. United States of America: John Wiley and Sons. John, T.M., 2008. Managing Global Business Strategies. Elsevier. Marilyn, J.P., 2013. Business innovation and the law. Edward Elgar Publishing. Mathur, U.C., 2012. Global Business Strategies: Text and Cases. I.K International pvt. Shiv, S.M., 2008. Creating Valuable Business Strategies. Londond: Routledge. Shiv, S.M., 2012. Creating Value: Successful business Strategies. London: Routledge.