The business process is considered as the effective illustration of the overall business process. The business processes can be represented in various forms such as contextual, textual and graphical elements (Amit & Zott, 2012). There are financial considerations that are implemented in the products and services of the company. There are some basic fundamentals of the business models such as organizational infrastructure, value proposition, value architecture, technological architecture and value network. A business model is the one in which explains the rationale behind the delivery, creation and the capture of the value embedded in the economic, social and cultural constraints. The paper would explain the all-round characteristics of the business models and the inter relationships between business models with business systems.
The business model is concerned with an appropriate method which would be helpful for the company to increase its business revenues. The business models can be related to the selling of the services or products, selling contracts and others. The model would also showcase the different factors that would be helpful in the operation of the business. The company would have higher margins if it follows particular kinds of business models. According to DaSilva and Trkman (2014), the business model is considered as a concise and clear way of figuring the operation patterns of a business. The business models provide values to the customers and the level of value is directly proportional to the level of customer satisfaction. The business models provide a way to convert the value proposition to the rapid profitability and the revenues growth. The business would benefit from the “word of mouth” recommendations from the customers. As argued by Baden-Fuller and Haefliger (2013), the business model is considered as a way of generating revenues and making a profit for building the customer operations, which has several components. The costs and the prices are considered to be the primary levers in the business model of the company. Both the actions are responsible for increasing the value of the company. For example, Samsung works with vertical integration and a pool of products. The company is present in several market segments and has a wide variety of products including the TV, cameras, tablets, smart phones and others.
As opined by Baker (2014), the business models embedded in the systems help in the better understanding, knowing and the stimulation of the model representation. The system involves the function modeling which is concerned with the application of the functional flow diagram. The conceptualization of the business models as the system helps in the development of the rational unified process. As argued by Onetti et al. (2012), the Rational Unified Process comprises of the business modeling functions that is inclusive of the concise way of generating the requirements meant for the support of the business tools. The business system development may comprise of the use case model, design model, implementation model and the test model. There can be customized systems for several companies or there can be collection of applications for the purpose of the open market (Morris et al., 2015). The business models when viewed as business systems help in addressing the value proposition, customer and organizational architecture. This can be witnessed in the following diagram.
Fig: Business Models as systems
Source: (Hair, 2015)
The business models can be helpful in the process of solving static as well as dynamic problems of the organizations. The relatively stable problems of the business processes are considered as static business models that remain unchanged over a fairly long period of time (Hair, 2015). In comparison, the dynamic business problems are considered as the ones which do not remain constant over a period of time. The business models can be equated with the managerial style, which is the commencing point for solving business issues in a logical manner. As argued by Marano and Tashman (2012), the value chain network of the business model is concerned with the value systems, strategic positioning concepts and others. This framework underlines the detailed scenario of the firm and evaluates the firm based on its competitive advantage. The utilization of the primary as well as supporting activities, which are the true components of the value chain framework, are responsible for major turnaround for major companies. The companies are redefining their business ways and define new relationships with the customers, which are one of the major ways of solving the dynamic problems (Dunning, 2015). The static problems have the potential to be solved by the “what-if” questions so that a critical assumption of the business can be gained.
The business systems can be used to understand the partnerships of the firm. As commented by Chesbrough (2012), the business model of a firm can be used to define a set of interdependent activities which spans across the organizational boundaries. The activity system helps the organization to create value in the organization and also when collaborating with other firms. The design elements in the business models comprise of structure, content and governance, which helps the organization to partner with other firms. The business models help the managers in the formulation of effective business strategies so that the effectiveness of the business partnerships can be gathered. There are several critical partnerships for the business such as location, needs and the supply chain. As opined by Morgan (2012), there are various kinds of partnership options such as joint ventures, strategic alliances and the supplier-buyer relationships. The business models do help in the identification of various factors that aid in the right partnership models. The business models help in the formulation of effective partnership agreements that encompasses impact on the clients, defining of expectations, determining win-win situation and the correct selection of the partners.
The business models can be uses for the purpose of better understanding of the innovation process that are used by a company (Davenport, 2013). The business process determines the ways of sustaining in the market. Kapferer (2012) states that the process of innovation is considered with sustaining themselves in the highly competitive market with the help of unique business processes which differentiates the services of the company from the others. The focused business models are considered to be most effective when targeting the distinct market segments that have clear differentiated needs (Provost & Fawcett, 2013).It is important to subdivide the focused customer segments in the event of multi segment business. The innovation process is not always concerned with the creation of completely new products. The business model can also focus on the commonalities present across the product lines such as customer, products and the different market segments. The companies can take initiative towards adding to the different mix products or the services which ideally reflect the new applications of their actual capabilities.
The article on “Boundaries Innovation and Knowledge Integration in the Japanese firm” written by Mitsuru Kodama, identifies the Japanese firms that are undergoing restructuring the business operations so that they can compete in the global marketplace (Kodama, 2009). This particular paper evaluated the different competency levels of the different Japanese technological forms that often set out a strong example to the world. These articles successfully identified the different success factors of the Japan based firms. There is skillful coordination as well as collaboration among the organizational boundaries of the Japanese firms which are aimed at marketing as well as technological innovation. This revives the “path-dependant” knowledge that which integrates the diverse knowledge (both external as well as internal). The paper concentrates on the leadership style in the Japanese firms that help in the creation of independent “knowledge integration model” (Kodama, 2009). The basic argument in the article is concerned with the skillful coordination among multiple organizational entities. This article also proposes a new business framework, which is also known as the knowledge integration model. This particular model integrates the heterogeneous knowledge observed in both internal as well as external environment of the organization. The knowledge integration model is often sensitive to the dynamic changes within the corporate boundaries (Kodama, 2009). This model integrates the vertical value chain with the co-evolution model that is used to enhance the “win-win” business models. The internal knowledge is integrated by internal networks and the corporate boundaries are maintained with the help of knowledge transfer process. There are companies such as Toyota, which makes use of the vertically integrated “value chain”. This process is also followed in Fujitsu, which is reflected in the complex knowledge flows. These are important for advancing the business flows, which often becomes difficult to manage.
The article named ““Killing Two Birds with One Stone” have helped me in better understanding of the business models in an effective manner (Itami & Nishino, 2010). The articles explained the business model composition which comprises of the business systems and the profit model. The business models are responsible for the smooth delivery of the businesses to the customers (Itami & Nishino, 2010). The business models would enable in the reducing the risks of the firms and this gaining competitive advantage. The actual profit model of the companies is explained in the article, which has helped in better understanding of the concepts (Itami & Nishino, 2010). The different core competencies of the firms help in better understanding of the business process, revenue generation and competitive advantage. The understanding of the core business processes often goes unnoticed and it affects the business in a unique way.
Conclusion
The paper explored some interesting findings concerning business cases which are helpful in the understanding of the business models. They are considered as overall subset of the business systems. The business models are able to solve a range of static as well as dynamic issues. The effective use of the business system is done and the new concept of the knowledge integration is being enumerated. This idea would gain more prominence in the future. This essay would also expand the overall understanding of the business systems operating in unique business environment.
The business case report is important for the purpose of identifying specific business issues or the current scenario of the company. It is a well structured written document which comprises of the verbal argument and it may also contain presentation. The companies are increasing aiming their focus on enhancing their product attributes and developing new products which would benefit the consumers (Morgan, 2012). The innovation is known as the measure to achieve economic growth of not only the companies but the countries at large. As opined by Chesbrough (2012), innovation is regarded as the process of the creation as well as transformation of the new knowledge in the processes, products and the services, which would successfully fulfill the market needs.
This business report would identify an innovative product by one of the organization. The organization selected for the purpose of study is Samsung Group. An innovative product would be suggested for the company which would have the potential of sustainable development. The business models would be used to understand the latent opportunities in the innovative products. The other aspects of the innovation are also discussed such as problems that it fan solve, benefits of the particular innovation, strategic responses, project options analysis and the process of delivering the innovative solution.
Samsung Group is one of the South Korean multinational organizations that are headquartered in the Samsung Town, located in Seoul, Korea. Samsung has numerous affiliated business processes that work under the Samsung brand. The founder of the company is Lee Byung Chul and it was founded in the year 1938 (Samsung. com, 2017). The main products of the company are apparels, chemicals, semiconductors, consumer electronics, DRAM, medical equipments, home appliances and others. It also provides services such as construction, advertising, financial services, entertainment, communications technology, retail, shipbuilding and others. The operating revenues for the company is approximately US$ 306 billion in the year 2016 and the total assets of the company is US $ 529 billion in the year 2016 (Samsung. com, 2017).
It is important to implement time to time innovation in the products as well as services of the company so that they can gain competitive advantage. The companies need to launch innovative features in their existing products, which would fulfill the needs of the customers. A new innovative application, Samsung Health, would be created which would help in the monitoring of the health condition of the patients. The artificial intelligence is one of the most popular topics of the modern times and it has increased widespread attention all over the world (Michalski, Carbonell & Mitchell, 2013). The artificial intelligence has the potential of converting mundane tasks through detailed automation so that there is an increase in the productivity of the employees. There are few companies who are using these cutting edge technologies to the fullest possible extent. The application of the artificial intelligence in mobiles is an upcoming concept. This new app of the company would act as digital assistant, which would help the users in solving the day to day complex tasks.
Samsung Health is one of the most innovative applications which would be installed in the coming range of Samsung mobiles. The app will identify the fingerprint of the users and give exact diagnosis regarding the physical condition of the patient. This app would also display the type of ailment of the patient as well as the possible medications. The app would also help in the understanding of the vital statistics of the patient such as blood pressure, heart beat, possible allergies, BMI, medicinal reactions and others.
Samsung can implement the AI practices in the form of context aware sensors, which can be used using the intelligent apps and chatboxes. The artificial intelligence would be implemented in an Android operating system. Alternatively, additional recent technologies can also be used such as IBM Watson, Siri and Mental Typewritter.
It is important to analyze the innovation of the company by the use of possible business models. The proposed innovation made by the company would be analyzed with the help of three business models such as Analytical Hierarchy Process, Evaluation Matrix and the SWOT analysis.
The Analytical Hierarchy Process would be based on the hierarchical system of evaluating the idea as well as decision making activities (Kayastha et al., 2013). This method assesses the viability of one idea based on multiple criteria which is based on their relative importance. The idea of Samsung Health is broken down into four steps such as decomposing, weighing, evaluating and selecting. The application would be decomposed such as identification of the need of the community, development of a useful tool to address patient needs, costs involved and the related benefits to the society. The individual ideas have been weighed and the benefits to the society are being chosen.
The evaluation matrix would use a selection of criteria for determining the overall score on the idea (Jenke, 2015). The comments would also be provided based on the respective scores of the idea. In this case, the criteria of the app are to render appropriate services to the patients while moving, economical and user friendly, so that there is an overall improvement in the health status of the society. The matrix shows that it is important to launch appropriate services regarding the patients while they are moving from one place to other.
Fig: Evaluation Matrix
Source: Created by author
The SWOT analysis is also performed on the innovative product, which would be launched by the company. The SWOT analysis is performed as-
Fig: SWOT analysis of Samsung Pay
Source: Created by author
The innovation process would comprise of the increased convenience in their day to day lives. The issue of healthcare delivery in the third world countries would be resolved with the help of third world countries. It would also be helpful in monitoring of the health conditions in the rural communities based in the developing countries. It would also be helpful in assessing the health of the patients residing in remote locations where there are no paramedics and doctors.
It would help in the accomplishments of tasks like prioritizing mails, open important messages. It would also help in helpful in curtailing the healthcare delivery costs. It would help in learning the behavioral patterns of the users so that sessions can become more valuable. This can be done with the help of context aware computing and the predictive messaging. There would be savings of the patients who do not need to visit doctor’s clinics regularly.
It is important to implement a proper plan for implementation of the innovative business idea. There is need to decompose the process into consecutive phases. The first step is the identification and the organization of new business idea. It involves with the collection of the facts regarding Artificial Intelligence. The second step is the listing of all the available techniques. It includes Optical Character Recognition, Speech Recognition, Artificial Creativity, Automated Reasoning, Purchase Predictions, Record behavior patterns. The third step is making set of criteria for the selection of particular tools. Criteria should be economical, convenient, easy to install and have increased user interface. The fourth step is selection of best tool or method. The integration of health platform along with Artificial Intelligence should be done. This step would comprise of the tie up with hospitals, doctors and the scientists. The fifth step is implementation of the method. This step would comprise of the installing of the app in the latest Samsung devices and use in healthcare delivery institute.
The project feasibility is important to be analyzed and it would be done by focusing on the social feasibility, economic feasibility, technical feasibility, legal feasibility and organizational feasibility (Dusonchet et al., 2016).
The technical feasibility is concerned with the current technology supporting proposed solution. Technical competencies are present in Samsung Pay. The legal feasibility is concerned with the health regulations, health and safety, reporting data protection, which would be fulfilled by the company. The organizational feasibility is concerned with the capability of the organization to implement the app. The employees should be involved in this stage. The social feasibility is concerned with the employee willingness to accept apps concerning health. There would be improved social acceptance as it would improve the patient’s health. The economic feasibility would concern with the fact that Samsung may find it difficult to implement the system.
The mobile app should be implemented phase by phase. It is important that small number of users needs to be tested for user acceptance of the app. The increased marketing of the innovative app should be done. It is important to consult with the investors in order to gain sufficient funds for the project.
The plan for delivery of the recommended solution is-
Conclusion
The business case report discussed some of the important attributes of the innovation case of Samsung. The Samsung Pay app would be created with the help of unique market research data. The app will identify the fingerprint of the users and give exact diagnosis regarding the physical condition of the patient. This would be a wonderful step towards reducing the worsening healthcare implications of the developing countries.
References
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