Business model assessment
Posted by Winniem on March 8th, 2019
In the organization, the business model canvas does work as a guideline that employees use so as to meet their goals. With the business model, it involves the identification of the job duties where the employees are aware of their job responsibilities. From the business model, it does indicate some significant factors that will contribute to the organization successful achieving its objective. When looking at the organization’s business model, it is clear that benchmarking is a strategy that the organization considers as an essential aspect to help determine what needs to be done and what should be improved. Benchmarking is a good technique that an organization can use so as to gauge its success and also identify some of its shortcomings (Andrew & Lou 2017). With the strategy of benchmarking, it does enable the organization to improve the quality of its services and products, and this will lead to competitive advantage for the company.
Another trend present in the organization is that of partnership. It is expected that the business should work on creating key partners so as to achieve its goals. The fact that the business established partners in its operation does help the organization to deliver different products and even more services. A major mistake that organizations are likely to do is trying to do everyone on their one. For an organization to succeed in the market, it needs to focus on creating strategic partners. These are partners who the business enters into an agreement and aims to help both of them in achieving, even more, success (McKeown, 2010). Partners are important as they can help the organization to grow its business at very low cost. The business needs to develop partners with the suppliers because working closely with them can ensure that everything that the organization requires will be delivered on time. The organization does not just create a partnership for the sake; however, it must understand the specific needs of the business and then identify the firms that can help in achieving the key objectives of the organization.
Another behavioral trend observed in the organization is that of value for the employees. The organization understands that the employees are a valuable component for the success of the business. The organization does believe that the employees are responsible for the happiness of the customers; therefore, by keeping the employees happy, they help to ensure customer happiness (McKeown, 2010). In the global economy, leveraging the employee value and also creating job satisfaction does play a vital role; thus, the organization works to be a creator of value. The organization considers the workforce as the most valuable asset in the company and as the organization motivates and support its employees; it can decrease employee turnover and increase their satisfaction.
While observing the business model in the company, by dividing the organization into different frames, it helps to understand the organization better. It is important for understanding and approaching the issues of change, development, and also diagnosis in the organization (Osterwalder & Pigneur 2010). In doing this, the management can identify issues and also get a picture of what is happening in the company and what needs to be done. In the case of leadership, the management of the organization does use the information from the different frames to determine the appropriate leadership that will enable the employees to perform effectively and also enables them to achieve the goals of the organization.
From the assessment of the organization, there are several recommendations that can enable the organization to improve in different areas. One important recommendation for improvement is that the organization should organize by function. That means that the organization needs to look at the functions that the business has and then create an organizational chart that will make sure that each of the functions is staffed properly (McKeown, 2010). The different areas of the organization should be divided in such a way that every department does have someone who is charge and should have the organizational responsibilities. Another important factor that will contribute to improving the organization is making sure that there are open lines of communication. It is not possible for the workforce to complete their jobs when there is no effective communication. Communication should be a key aspect of the organization where every person is aware of what they should do (Andrew & Lou 2017). The leaders in the organization must ensure that they encourage the workers to communicate freely and also provide suggestions that they believe will be helpful in increasing productivity. With these recommendations, it is definite that the organization will observe positive outcomes in the long run. The business will increase regarding sales; hence, resulting in an increase in profits. The involvement of employees and clear communication will also help ensure that the employee performs their duties accordingly and there will also be a decrease in employee turnover and increase employee satisfaction.
Osterwalder, A., & Pigneur, Y. (2010). Business model generation. Hoboken, N.J.: John Wiley & Sons.
Andrew, W & Lou, W (2017) Handbook of research on the emerging business models and managerial strategies. Australia, IGI Global
McKeown, L (2010). Predictable success. Texas, Greenleaf Book Group Press.
Carolyn Morgan is the author of this paper. A senior editor at MeldaResearch.Com in research paper writing services if you need a similar paper you can place your order from Top American Writing Services.