Competitive Strategy : Business Model
Question:
Describe about the Competitive Strategy for Business Model.
Answer:
Week 4: Business Model Innovation
Paragraph 1: Key Ideas
In this video Prof. Dr. Oliver Gassmann discusses the significance of business model innovation for the development and accomplishment of the business associations. The reality of the matter is that, in today’s more perplexing and aggressive business situation, every single association ought to receive and additionally execute imaginative systems and strategies so as to perform the objectives and target of the association in a viable and a more exhaustive way. Moreover, innovation is vital for every one of the ventures. The main reason behind it is that innovation assumes a critical part to enhance the client worth, to decrease the authoritative expenses, and to make upper hands for the development of the associations (HSGUniStGallen. 2013). In addition to this, it is also portrayed that innovation is an unrivaled technique than some other strategy received by the business firms. As of late business model innovation has become significant consideration of the business associations. It is because of it is acknowledged as a key component of hierarchical achievement.
Apart from this, nowadays, the accomplishment of all the acclaimed associations just relies on upon their innovative plans of action. It is also real that there are a few confusions that are connected to innovation. For case, it generally gives new thoughts that no one utilized some time recently. The other error is that innovation has need of huge assets. The misguided judgments identified with development are not valid. It is a direct result of innovation implies that how business associations actualize their thoughts and procedures utilize accessible assets in an appropriate way (HSGUniStGallen. 2013). In this way, it is inferred that, this video outlines new thoughts regarding the business model innovation and propositions thoughts will assume a pivotal part to bring progressive changes within the company.
Paragraph 2: Application of Key Ideas
The key thoughts that are separated from the video are as of now embraced as well as executed by a large portion of the associations such as: Apple, Google inc., and so forth to finish upper hands over the contenders. On the basis of these key ideas, I trust that Subway System Australia ought to embrace the possibility of business model innovation for the achievement as well as development of the association. For case, it should be noted down that, in current the success and growth of Subway System Australia is not superior to other organizations like Domino’s, McDonald’s, KFC, and so on. It is that Subway System Australia did not take help of innovation in order to deliver inventive service to fulfill and to satisfy the requirements of the consumers (HSGUniStGallen. 2013). As a result, I trust that Subway System Australia must adopt and implement business model innovation to improve the effectiveness of the firm in an effective way. It is because of, with the help of innovation, Subway would be proficient to improve the productivity, profitability and to fulfill the needs & wants of customers in an effective and an appropriate manner.
WEEK 5: Pankaj Ghemawat: CAGE Framework To Evaluate International Trade Opportunities
Paragraph 1: Key Ideas
In the video Pankaj Ghemawat depicts the importance of the CAGE framework for the success and growth of the business associations. Furthmore, Ghemawat expresses that, with the assistance of the CAGE (cultural, administrative, geographic, and economic) system, business associations may assess different nations as far as the separation that subsist between the nations. Along with this, with the assistance of the CAGE system, it is also communicated that business associations ought take in the geographic separation as well as incorporate the cultural, administrative, and economic contrasts or separations between the nations (Carlson School of Management. 2015).. In addition to this, the CAGE system assumes a critical part so as to give a more extensive perspective of separation and to offer inventive state of mind on the subject of area and the exchange open doors for the achievement and development of the business firms at the global level.
Along with this, it ought to be noted down that, the CAGE system is vital to work together between nations in a viable and a suitable way. The structure assumes a noteworthy part keeping in mind the end goal to evacuate social and additionally exchange hindrances among the countries. In addition, with the assistance of the CAGE structure, business associations get to be ready to find areas to buy crude material at lower expenses, to access to business sectors and additionally customers, and to settle on important choices for the achievement and development of the organizations (Carlson School of Management. 2015). On the other hand, this video exhibits the key thoughts that are identified with the CAGE structure. Business associations can utilize the CAGE structure to assess the exchange open doors and to decrease the exchange boundaries keeping in mind the end goal to finish the objectives and targets of the organizations in a successful and an appropriate way.
Paragraph 2: Application of Key Ideas
The reality of the matter is that, in current a couple of associations has received and executed the CAGE structure to accept points of interest of exchange open doors at the worldwide level. In addition to this, I believe that Collins Foods ought to utilize the CAGE structure so as to evaluate the global exchange open doors in a successful and a proper way. The fundamental explanation for it is that this system would be useful to lessen the geological distance and reduce the trade and cultural barriers to Collins Foods. It ought to be noted down that at what time Collins Foods tries to enter in new markets or country than it confronts various difficulties to do its business successfully. It confronts troubles to buy crude materials in different countries. Collins Foods also confronts heaps of social and exchange snags within the economy of other country (Ghemawat, 2013). In this circumstance, with the assistance of the CAGE structure, Collins Foods will be ready to comprehend the way of life and economy of the other country and also will be capable to do its business in new market and country in an adequate way. Accordingly, I acknowledge as genuine that Collins Foods must adopt and implement CAGE system to capture trade opportunities and to develop its business at the global level in an effective and a proper way.
References
Carlson School of Management (2015). Pankaj Ghemawat: CAGE framework to evaluate international trade opportunities. Available At:
https://www.youtube.com/watch?v=7FpUJaG7uMk [Accessed on: 21th August, 2016]
Ghemawat, P. (2013). Redefining Global Strategy: Crossing Borders in A World Where Differences Still Matter. Boston: Harvard Business Press.
HSGUniStGallen (2013). Business Model Innovation. Available At: https://www.youtube.com/watch?v=B4ZSGQW0UMI [Accessed on: 21th August, 2016]
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