Assessment 1 - Individual essay and video: Business modelsDue date: Week 7, Tuesday 24 April 01:00...

Question

Assessment 1 - Individual essay and video: Business models

Due date: Week 7, Tuesday 24 April 01:00 PM AEST

Weighting: 50%

Length: 1500 words

Assessment Overview

This assessment must be completed by students individually. The assessment is designed for students to develop understanding of the importance and appreciation of the close links between business strategy, business innovation and business models. The business model concept is central to this understanding. It has evolved from a term that refers to ‘the logic of the firm or the way of doing business’ to a set of conceptual analytical and creative tools that can be used to help imagine, conceptualise, deliver and capture business value. The assessment is about assessing business models using different perspectives. The assessment involves writing a 1500 word essay and explaining the essay’s main arguments via a creative video. The creative video should be of roughly three minutes duration.

Please note that academic misconduct and late submission penalties will apply to this assessment as per the university policies.

Assessment Guidance

Assessment 1 student guide (link).

Abena Nova case study, an example of a health care smart-connected-product (link).

Assessment 1 video examples (link).

Further assessment guidance will be provided here. As we progress in the unit, the unit coordinator will add advice here in response to student questions and discussions. You are encouraged to ask questions and contribute to discussions in class and to create posts on the website discussion forum.

Feel free to discuss your assessment ideas in the unit discussion forum, before you complete and submit the assessment.

Assessment Tasks

This section describes the assessment tasks. There are two components, a business essay and a creative video. You are required to write an essay and then explain the assay’s main arguments in a short creative video.

Business essay, 30% of the total marks for the unit

Business models are less durable than they used to be as technological advances in areas such as artificial intelligence, computing power, communication networks and battery technologies offers both threats and opportunities for existing businesses and their business models.

"Let's face it: business models are less durable than they used to be. The basic rules of the game for creating and capturing economic value were once fixed in place for years, even decades, as companies tried to execute the same business models better than their competitors did. But now, business models are subject to rapid displacement, disruption, and, in extreme cases, outright destruction”(de Jong & van Dijk, 2015).

Specifically, your essay is required to:

1.Clearly and succinctly define the terms ‘business model’ and ‘disruption’ based on a short literature review.

2.Analyse the opportunities and threats caused by the advances in smart-connected-products(Porter & Heppelmann, 2014, 2015)to the existing business model for one (1) of the following businesses:

a.Cochlear, Australia (link).Cochlear implant manufacture and service.

b.Commonwealth Bank, Australia (link).Banking and insurance.

c.Domino’s Pizza, Australia (link).Fast food restaurant.

d.LEGO, Denmark (link).Toy manufacturer.

e.Procter & Gamble, United States (link).Manufacture of disposable nappies and many other products.

f.
Volvo Group, Sweden (link).Manufacture and service of trucks and construction equipment.

g.Strava, United States (link).Social fitness application.

h.A business impacted by the advances of smart-connected-products, that you are or have been employed at and therefore knows well. It is important that no confidential business information is included in the essay.

i. If you suggest an organisation other than the ones above, you will need approval from the assigned lecturer.

3.Use the business model framework byOsterwalder and Pigneur (2010)to illustrate your initial findings.

4. Expand your analysis to address only two (2) of the following business model perspectives: business models as value proposition, business models as a set of capabilities and resources, business models as a system of processes, business models as a profit formula(Chesbrough 2010; Johnson, Christensen, & Kagermann, 2008).

5.Conclude by briefly discussing the significance of your findings to the business and its business model and the future of the business.

Assessment references

You should include at least 20 references in your essay. All sources must be highly credible and fully referenced using the APA referencing style.

Chesbrough, H. (2010). Business Model Innovation: Opportunities and Barriers.Long Range Planning, 43(2–3), 354-363.

de Jong, M., & van Dijk, M. (2015).Disrupting beliefs: A new approach to business-model innovation.McKinsey Quarterly.

Johnson, M. W., Christensen, C. M., & Kagermann, H. (2008). Reinventing your business model.Harvard Business Review, 86(12), 50. Scroll down to find the article.

Osterwalder, A., & Pigneur, Y. (2010).Business Model Generation. New Jersey: Wiley (the unit textbook). The textbook is available from the CQUniversity library for free.

Porter, M. E., & Heppelmann, J. E. (2014). How smart, connected products are transforming competition.Harvard Business Review, 92(11), 64-88.

Porter, M. E., & Heppelmann, J. E. (2015). How smart, connected products are transforming companies.Harvard Business Review, 93(10), 96-16.

Zott, C., Amit, R., & Massa, L. (2011). The business model: Recent developments and future research.Journal of Management : JOM, 37(4), 1019-1042.

Creative video, 20% of the total marks for the unit

The creative video must focus on your essay's findings. The objective of this video is to develop your presentation skills and ability to explain difficult theoretical concepts to laypeople. To successfully complete this part of the assessment, you are required to produce a short video that summarises the key arguments of your essay. However, your video should not just be a verbatim repeat of your essay. It should be a creative and unique descriptive explanation of the essay findings and supporting arguments. Make sure your explanations are concise and easy to understand by people with little business training. Students are rewarded for using the video medium effectively and creatively.

Assessment Criteria

Essay marking criteria (30%)

1. Demonstrates an appreciation of business model theory in the literature. 3%

2. Identifies and concisely outlines the opportunities and threats caused by the advances of smart connected- products to the existing business model. 3%

3. Applies the Osterwalder & Pigneur (2010) business model framework to illustrate findings. 6%

4. Critically applies the business model perspectives: value proposition, capabilities and resources, system of processes and profit formula to the analysis. 6%

5. Critically discusses the significance of the business model findings to the future of the business. 6%

6. Introduction, conclusion, coherence of arguments and theoretical integration. 3%

7. Written communication, credible sources and referencing standards skills. 3%

Akansha · Accepted Answer

Critical Anlysis of Business Model
Name
Class
Subject
Unit Code
Professor’s Name
Date 
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Critical Anlysis of Business Model
     
)
Introduction
In the changing trends and increasing use of innovation the traditional ideas of conducting business are also changing and a modern approach is demanded. Same is with the business models which are also turning innovative as it allows the companies to be more commercialized, using new concepts and innovation. Though the importance of technology is quite evident in a company, a business model helps the companies to successfully enable such expansionary approaches with the ultimate outcome of profit (Hu, 2014).
Studies and researches conducted on the business models explain its importance along with it the challenges also the methods companies use to strategically apply them. Combining the business model with technology will help the companies to remove or reduce the hurdles those challenges the inclusion of innovation in the company. The given essay examines such business models and the morals they add in the company’s growth and success activities. With the aim to achieve the ultimate outcome that is profit (Rieley, 2014). The case of Dominos will be analyzed to show how effectively the business models combined with technology has achieved the desired success.
Analysing the business model and the Opportunities and threats associated with smart-connected-products 
A strategic approach that enables an organization to effectively develop its value chain is known as a business model. Typically characterized in two sections, business model can incorporate the exercises that are by and large connected with production. Production involves the exercises of initiating, purchasing crude materials and assembling. This at that point incorporates how the company’s manufactured item or services will target the market and come to the client in the best way. The conveyance of this administration must be done in the best innovative process, so organization can earn some good profit (Yaziji, 2018).
Disruption is the innovation that have ends up common in the business sector and with the change of time the use of such innovation will affect the general market increments. Disruptive innovation are the procedures which modify how business and organizations work in the given condition. These problematic advances are occasionally so persuasive that organizations can alter the method they manage their share in the market and other business procedures and activities (Osterwalder et al., 2014).
The considered organization Dominos is an American organization with its franchisee spread across the world serving it customers since last 55 years. The pizza brand offers a wide variety of pizza along with other food items in approximately 70 countries. The pizza brand is earning success and there are many reasons for it. The company has to offer excellent customer service, new products as per customer’s demand, the challenge of delivery pizza in 30 minutes comfortable infrastructure, well-trained staff, unique recipes wide target market including kids to adult, and efficient customer relationships. Dominos has it all and all this is made possible with the current business model the company is following that is a notable example of traditional practices merging with the innovation to achieve success in the competitive business sector.
It would not be wrong to say that Dominoes is earning success due to the online business setup it has developed in the 70 countries it is operating. The company offers various discounts and variables of food options through booking an order on the website. Since 1970s. Dominos is being using the latest available technologies to develop the business to attain the desired growth. Whether it was the idea of franchisee or purchase of the fleet of cars for the 30 minutes delivery promise. The owner has taken all steps to make sure the company prospers in the competitive food industry. In no time the company gained the success and with different operating hands the company found new and innovative ideas added in the basic business model.

Assessment 1 - Individual essay and video: Business models Due date: Week 7, Tuesday 24 April 01:00 PM AEST Weighting: 50% Length: 1500 words Assessment Overview This assessment must be completed by...