Discuss about the Sustainable Development and its Side Affect.
The term sustainable development means when the human developments meet the organizational principles to achieve some desired goals. It is position when the society and it objectives meet the human needs and stability of the environment (Bocken et al., 2014). It can be classified as meeting the present meet of human nature without hampering the future generations.
A business model is the backbone of business running process. It pre determines the do’s and don’ts of a business and understands the scope of the business. It describes how an organization delivers, creates and nourishes value. It is a safe guard of the business that determines the possible risk that is related to the business. This process forms a part of business strategy. It represents the core aspects of a business that will include the business target, process, target customer, infrastructure of the business(Morris, Shirokova & Shatalov, 2013). The primary reason for business model is to create a pre-existing idea about the business that will help to create a better understanding of the business and its risk.
According to (Laudon & Laudon, 2016) a business model is a replica or representation of the business that includes graphical, textual, conceptual representation of information about the business. It is developed for a sustainable future and resource availability for future generation. It basically describes situation where the business will be able to reach the target goal in a strategic way and save the future resources also. It is also found that the business models perform better than the other platforms and techniques used by the business organization. It supports the design and analysis of the software of the business model.
Disruption is the problem that is interrupting the business strategy and events and thus the businesses are unable to perform their desired work. It is the challenges and problems faced by the organizations to introduce their strategic planning or business theory in the organization(von Rosing et al., 2015). However, in business the term disruption makes a different meaning. It means a way to think not only about meeting the customer’s current need but also anticipating their future needs. The disruptive companies after entering the market becomes reputed brands due to their innovative thinking culture and strategies to create a place in the market(Lepore, 2014). The disruptive market really means to satisfy the less demanding customers or make a market that did not exist before. Thus, when the mainstream customers will seek this market the disruption ill occur. The only issue with this system is that they take a lot of time to make any real impact.
Another but most important issue of this model type is that the business type is very new and different than the other business model and many times they are not easily accepted by the society. It takes time for the society to accept the business type. The innovative but unique strategies are often not accepted by the society but if they can enter the market and create an image of their own, then they become highly populated and reputed in the market. The term innovative and disruptive go to the similar line but disruptive has higher risk than being innovative. New innovations are done to the pre-existing objects and strategies but disruption is for the new and unique ideology innovated by the business which has no link to the past. Disruption targets the customers need and love their customer’s requirement in the process. They target to give complete satisfaction and happiness to their customer by bringing out new policy and strategies that will give better opportunities to the customers to seek for that particular brand. This helps the business to grow in a particular manner and thus enable them to reach their target market(Saebi & Foss, 2015).
Business model and disruption are two key points in business organization that determines the proper working of the business and creating place in the market. The competition in the present days are making the business organization find the most different and unique ways to reach the customer(Christensen, Wang & Van Bever, 2013). However, a strategic planning and calculation is must to compete in the market. Failures and loss of money is inevitable if the business is not conducting proper management beforehand. Along with a pre management system they business requires to be unique and creative in nature. They have to be more customer oriented and work for the customer needs. This might seemed to be weird in nature initially, but with time if this can create their own market then they will rule the market.
The below paragraph will discuss about the threats and opportunities faced by the Dominos company due to advancement in smart technology in the nature:
It gives excellent opportunities who can think in multiple dimension: the better technology helps the company to proceed further with their new strategies and innovative plans that will enhance the business. The market can get a better scope to explore this company due to their technology advancement(Deivanai, 2013).
Digital strategy: the innovation of digital technology helped Dominos to reach the customer even when they had a huge competition with other reputed brands. The use of technology has given a new phase to the business.
Connectivity: the dominos customers are able to place their orders just by using the application. It becomes easy for the customers to reach the business only by sitting at home and thus it increases the preference for this brand(Zott & Amit, 2013).
Miscommunication: due to lack in direct communication there are understanding problems that leads to miscommunication and misunderstanding between Dominos and the customers. The customers get a negative impression after such issues faced by them.
Loss of manual labour: the work that was done earlier manually are now done by the machines and systems(Shah, 2013). This is reducing the scope for the manual workers in the industry and reducing the scope for the employees to get a job.
Increased cost: the use of technology is incurring higher expenditure for the technology and networks used by Dominos. The price of the products are also increased to meet the cost. Thus, the consumers are facing a huge problem due the sudden rise in the value.
Business model canvas is a template guide that can be used to pen down some the features of the company (Chesbrough, 2010). With the help of a business model canvas following is the business model of DOMINOS described.
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Key partners · Customers · Suppliers of oregano · World Wildlife Fund · Morray Engineering · Hapa-Laetus · Mettler-Toledo |
Key activities · Identification of the market · innovation and creativity · designing · Validation · Manufacturing · Sales · Quality checking · Marketing strategies · Customer service |
Value proposition · Design and innovation · Technology · Engaging the food lovers · Attracting the food lovers with discounts and offers and unique tastes |
Customer relationship They provide online service to the customer and they also have various outlets that attract the customers |
Customer segment · Kids · Parents · Families · Business partners · College goers · School students |
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Key resources · Manufacturing unit · Employees · Official websites · Patents · Marketing strategies · Customer regulation |
Channels · Retail stores · Website · Mobile application · E-commerce store |
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Cost structure · Raw materials · Manufacturing · Packaging · Product development · Salaries · Partnerships |
Revenue structure · Sales · Collaborations · Partnerships · Service charges |
The primary resources of Dominos are there workers and raw materials that are required for the production of the product. The skilled employees and the work art that produces the unique taste and flavour for the brand has given it a different identity in the market. The brand has become uniquely popular due to its different taste and style of conducting business(Sachdeva,2016). Dominos is capable of further extending their quality by assuring selected raw materials that will give a better taste to the business and recognition in the market. The company should focus in their internal working system to produce a further standardized product to assure a better production of the product(McQuivey, 2013). The business model has helped the company to estimate their competitors and fight against the drawback of the company. Dominos has realized there scope for revealing their drawbacks and capabilities and work on it.
The business model helps the company to understand the working of the system and arrangement done for the working of the system. The business models helps to analyse the information that includes the technical and system process of Dominos. The working of the system is completely dependent on the technology that has helped the business to grow faster(Mankoff, 2014). The use of system and technology has helped the business to outstand among the other brand and create their own market. The business model pre decides the flaws and risks of the strategies and helps the business to create their own solutions.
Conclusion:
Thus, it can be concluded that the business model that are used to improve the business condition and understand the scope for the new strategies that will be implemented in the business. The business model helps the business to growth without facing and issues as the model will help the business to understand its requirements and risk related to it. thus the business can take justified step for proper understanding.
References:
Bocken, N. M., Short, S. W., Rana, P., & Evans, S. (2014). A literature and practice review to develop sustainable business model archetypes. Journal of cleaner production, 65, 42-56.
Christensen, C. M., Wang, D., & Van Bever, D. (2013). Consulting on the Cusp of Disruption. Harvard business review, 91(10), 106-114.
Deivanai, P. (2013). A study of consumer behavior towards fast food products with special reference to Domino’s Pizza. International research journal of business and management, (5).
Laudon, K. C., & Laudon, J. P. (2016). Management information system. Pearson Education India.
Lepore, J. (2014). The disruption machine. The New Yorker, 23, 30-6.
Mankoff, J. W. (2014). U.S. Patent No. 8,825,522. Washington, DC: U.S. Patent and Trademark Office.
McQuivey, J. (2013). Digital disruption: Unleashing the next wave of innovation.
Morris, M. H., Shirokova, G., & Shatalov, A. (2013). The business model and firm performance: The case of Russian food service ventures. Journal of Small Business Management, 51(1), 46-65.
Sachdeva, S. (2016). New Zealand could become first country to use Domino’s pizza delivery robot.
Saebi, T., & Foss, N. J. (2015). Business models for open innovation: Matching heterogeneous open innovation strategies with business model dimensions. European Management Journal, 33(3), 201-213.
Shah, R. B. (2013). Impact of marketing mix elements on customer loyalty: A study of fast food industry. Prestige International Journal of Management and Research, 6(2/1), 54.
von Rosing, M., von Scheel, H., Hove, M., & Fonseca, M. (2015). Importance of Business Model. The Complete Business Process Handbook, 2.
Zott, C., & Amit, R. (2013). The business model: A theoretically anchored robust construct for strategic analysis. Strategic Organization, 11(4), 403-411.
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