Business model innovation

Categories: BusinessInnovation

Organizations should ensure that the Business Performance Management process is effective in order to reduce the risk of loosing money in the organization due to high costs. Organizations should have business approaches that ensure that the organization is utilizing the resources of the organization to deliver quality services to the organization while ensuring that costs are minimized. An example of a scorecarding solution that can be used for the Business Performance Management process of organizations is the Panorama NovaView Scorecard.

This approach can be used by organizations to increase the efficiency and visibility of the strategies of the organizations and therefore increase the productivity of the organizations.

This is because the Panorama NovaView Scorecard ensures that the goals of the organization are measured and monitored to ensure progress through feedback, insight, strategy, collaboration, execution and monitoring (Panorama, 2006, p. 2). Recommendations on how to do implementation implement There are different recommendations which are suitable for proper innovation of an organization.

These forms of business model policies of improvement include business reproduction, income model and venture representation.

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The production model is a loom which involves restoration of the significance series of the industry. There are different ways of achieving the model which include shifting to new industries. For example, a company can shifts from its early development in trade to assorted industries like transport, monetary services and drinks (Giesen et al, 2007, p. 5).

Another way of achieving the recommendation is by re-identifying the commerce which is already in existence. For instance, there are organizations which eliminate liaison and make direct approaches to its clients by delivering its products and services to the clients.

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Possibly the manufacturing model of renovation, involves the development of the entire development of new sectors of the industries. For example, in the case of the main organizations that has provided services of internet for years.

Such proportions, give different influences to the surroundings together with the advantages which are exceptional (Giesen et al, 2007, p. 5). The revenue model recommendation involves the innovations that organizations create incomes by the re-arrangement of submissions. This approach, gives influence to the customer together with his or her preferences and choices. This can also bring authority in the new knowledge. A clear example is that of re-uniting innovative and getting on components in order to change the significance scheme and accomplish a new objective consultation.

Another modern example is that of introducing an option to an old service which is more improved with an aim of ensuring that the customers are satisfied (Giesen et al, 2007, pp. 5-6). The final model for implementation is the model of venturing. This advance engrosses modernization of the configuration of the enterprise together with its responsibility in the accessible series of principles. Therefore, the enterprise dimension puts focus on the redefinition of the limitations of a company (Giesen et al, 2007, pp. 5-6). Improvements can be achieved through incorporation.

For instance, the delivery sequence in an organization is managed by a single firm. The enterprise model can also be accomplished through specialization which entails that there should be focus on the interior capabilities from the organization. This requires that there should be center on the marketing, sales, distribution and ensuring that there is proper subcontracting (Martinez-Jerez & Jurgens, 2006, p. 1). The enterprise model as a means of implementation can be proficient through the system show business, in which organizations, rely on the exterior partnership.

For example, in the case of a company that collaborates with a variety of businesses with an intention. This takes place in conjunction with its assessment succession in order to improve the experience of the task of an organization (Miguel, 2002, p. 1). Since the financial out performers are putting more effort on the importance of the business model innovation. Therefore, the underperformers are required to implement the recommendation (Giesen et al, 2007, p. 7).

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Business model innovation. (2020, Jun 01). Retrieved from https://studymoose.com/business-model-innovation-new-essay

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