Innovation and Business Development Technological Innovation

Question: Discuss about the Innovation and Business Developmentfor Technological Innovation. Answer: Introduction The business model is a clear as well as concise way of picturing how a business actually operates. It is the management team that is responsible for describing the trade representation in a few sentences (Zott Amit, 2010). Enterprise works hard towards providing value to their targeted customers. Therefore, Business Model is a way where the company can translate value proposition into the potential for rapid revenue growth as well as profitability at the same time. Business model is defined as a system that aims at solving the difficulty after identifying the real issue that is faced by business organization. With the emergence of technology, it is clear that there is a requirement for business model that companies should use for providing value for their customers and users who pay for the services (Souto, 2015). Business model is collected of two vital essentials such as business scheme and profit model that are used for solving various problems faced by any business organization. Profit model actually gains the higher profile but the business system can be termed as real attribute for firm business model (Ostendorf, Mouzas Chakrabarti, 2014). Business model act as systems of work that precisely produces as well as delivers products or services in a business firm It is the locus where a business organization can actually study regarding the operations as well as behaviors of its suppliers as well as clientele (Kindstrm Kowalkowski, 2014). Addition to that, knowledge can build up after representing a significant spirited benefit where one risks has been exhausted and others can be unwisely unbundled. Profit Model, on the other hand aims at earning revenue for temporary where the commerce systems gains information for longer term. Therefore, a victorious business model actually aims to gain profit for both of the above-mentioned outcomes (Bagautdinova et al., 2014). Addition to that, business model as a scheme solves the trouble after identifying who are the customers that gets with the needs, deliver approval as well as value monetization Business model is basically lined with the technological innovation but they are constructed separately from technology. This model helps in understanding the working of firms partner that contains cause and effect relationships in a foundation for categorization. This can be understood when business model mediate the link between technology as well as firm performance (Boons Ldeke-Freund, 2013). In this way, it is easy to gain insights of information on the working of firms partner. The other way is the development of right technology that actually helps in decision-making process on matters relating to openness and user engagement. It is explored that there is emerging view of constructed business model that actually examines proper understanding of an issue and enhances the relationship between business model modernism as well as technological innovation. In other words, business model innovation had even taken place without technology development when Japanese pioneered the Just-in-Time Production organization (Chesbrough, 2013).. There had been regular interaction between business models as well as innovation. From the article on Killing two birds with one stone, it talks about profit for now and learning for the future. As rightly put forward by Nishino (2010), it is argued that business model collected of two essentials that is system of works and profit model. For instance, Google has specific features used in their profit model where user of its services never pays single rupee to the provider firm. They actually offer the chance for Google in capitalizing their attendance on the search engine site by advertising the site space to the advertisers who are the main basis of revenues in a firm. This article speaks about both Google and Toyota industry systems functions for satisfying the needs better than their closest competitors (Itami Nishino, 2010). On the contrary, this article brings out the fact that business system is a learning system as it involves learning about the work. From the article on Boundaries Innovation and Knowledge Integration in the Japanese firm, it explains new business model as well as Japanese Leadership style that actually create a self-governing information incorporation model. According to Kodama (2009), key education that Asian firms have come to study from the Japanese counterparts based on the center concept of Japanese administration. The article elucidates in detail case study analysis of Japan customer electronics, semiconductor, and mobile phone services as well as communications device for clarifying the beginning of competence of exceptional Japanese firms. It means considering the information incorporation Organization where the novel business model differs from that of Western organization. The two elements that are needed in an organization is skillful coordination as well as collaboration that aims at technological as well as marketing innovation. These Japanese firms renew the accumulated path-dependent facts when the re is vigorously integrated varied information in the interior as well as exterior of the organization (Kodama, 2009). From the article on Business Model Design: An Activity System Perspective, it is understood that business representation is a system that transcend the central firm as well as span its boundaries as a whole. As rightly out forward by Zott and Amit (2010), activity system actually helps firms for creating value as well as sharing the values with their partners. The research is conducted on two set of parameters where activity system designers considers following design elements such as content, structure as well as governance. This listed elements help in describing the structural design of an action scheme where the plan themes include lock-in, complementarities as well as competence that describes the sources of action used for value formation in the most appropriate way. It is the business model plan that is a key choice made by new firm industrialist and difficult tasks for the managers who charges rethinking an old model for making their firm fit for the near future (Baden-Fuller Haefliger, 2013). The article on Business model design was really helpful in understanding the business model as a scheme of mutually dependent behavior. It is of vital importance to the entrepreneurs as well as general managers who devotes little attention to the business activities. They have to construct theoretical toolkit that will help commercial managers for designing their prospect business model. This will even help managers for analyzing as well as improving in the current designs after making them fit for the near future (Zott Amit, 2010). This article suggest concepts that give managers as well as researcher a language that act as a concrete tools where business model design through fostering dialogue as well as promoting common understanding. The concepts mainly highlight the business model design that is a key task used by capitalist manages. Therefore, this article explains the significance of system-level plan that is compared to incomplete optimization in an effective way. Conclusion At the end of the study, it is concluded that business model presents issues faced by any organization in precise way. The above analysis presents how business model help in decision-making process. It is known that technological innovation greatly influences the level of performance. In order to improve understanding, it is necessary to conduct more precise approval of how modernism links with the presentation by use of business model and how changes influences the technical modernism in a given way. Reference List Baden-Fuller, C., Haefliger, S. (2013). Business models and technological innovation.Long range planning,46(6), 419-426. Bagautdinova, N.G., Galieva, G.T., Pakhmutov, Y.O. Pratchenko, O.V., (2014). Methods of regulation of processes of innovation business development.Mediterranean Journal of Social Sciences,5(12), p.75. Boons, F., Ldeke-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. Chesbrough, H., (2013).Open business models: How to thrive in the new innovation landscape. 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