Business Model Innovation Organizational Dimension â€Free Samples

Question: Discuss about the Business Model Innovation for Organizational Dimension. Answer: Introduction: The key ideas that are discussed by Prof. David Kryscynski in this given learning activity are allied with the strategy. The major idea of this activity is that, a strategy plays a critical role in the success and growth of the businesses. Business firms should develop effective strategies in order to achieve the goals objectives that are related to their businesses (Kryscynski, 2015). Along with this, the second key idea of the video is that, a strategy is not the goal of the business. Some people do not know that a strategy and a goal of business are different. So, they do not develop an effective strategy for the success of the business. Apart from this, the fact is that a strategy is totally diverse from the goals of businesses. A strategy is essential to accomplish the goals of the business in an effectual manner. Moreover, the other idea is that a strategy is an action plan that is designed to achieve long-term goals as well as objectives of the businesses. It is strength of t he business firms (Porter, 2008). In addition to this, another key idea is that, an effective strategy is a key component that is essential to improve the business efficiency and reduce business barriers in an appropriate way. A strategy defines the key purposes of business and also develops the objectives of the business. An effective strategy plays a critical role to build and improve the image and to improve the productivity of the businesses. Along with this, the other key idea is that, an effective strategy gives strategic direction to the businesses; so they can achieve their strategic goals in a significant manner (Thomson and Baden-Fuller, 2010). For this reason, it can be assumed that, an effective strategy is essential for business associations to survive in todays more complex and competitive business environment. Application of the Ideas: Nowadays, an effective strategy is the basic need of the business organizations. Moreover, according to me, TELSTRA would be benefit from the implementation of the key ideas of the given activity. It is because of an effective strategy would be beneficial to the firm in order to maintain its dynamic image in the marketplace. Along with this, the inventive strategy of TELSTRA would be beneficial to attract new customers and to retain its existing customers for the growth of the organization. TELSTRA would also be able to beat its competitors in a more dynamic manner (Carayannis, 2010). Moreover, with the help of an effective business strategy, TELSTRA will become able to draw the attention of the other customers those are connected with its competitors. For this reason; the key ideas would be beneficial for TELSTRA to expand its business in the international market in an effectual manner. Key Ideas Extorted From the Activity: The key ideas of the given e-learning activity are identified with the innovative business models. The real key thought of the action is that imaginative plans of action assume a basic part in the development and additionally achievement of the organizations (HSGUniStGallen. 2013). Alongside this, creative plan of action is fundamental to fulfill upper hands over the contenders. The primary explanation for it is that, an inventive plan of action urges business associations to offer novel and distinctive items or administrations to their clients. In addition, the other key thought is that a creative plan of action assumes a critical part to lessen the hierarchical and operational expenses and to make effective use of the accessible assets of the organizations. Moreover, it ought to likewise be noted down that, there are a few myths identified with plan of action and business affiliations must dismissal these myths to fulfill the objectives and targets of organizations in a pre-decided era (Amit and Zott, 2010). Apart from this, in current, business firms those do not implement innovative business models within the organization are unable to accomplish their goals and objectives in a specific time period. They are also unable to promote their products and services in an innovative manner and consequently; they are incapable to accomplish competitive advantages over the competitors. In opposite to this, business organizations those are paying their attention on the innovative business models becoming very popular in the market. They are also able to develop their remarkable images in the eyes of their customers and competitors as well (Foss and Saebi, 2015). For this reason; it can be believed that, the key ideas of the video express the importance of innovation business models in the growth of the business associations. Application of the Ideas: In today's quickly changing business environment, the greater part of the business associations rely on upon the imaginative plans of action to finish their wanted results viably (HSGUniStGallen. 2013). Alongside this, as indicated by me, Blackberry (a media transmission organization) would be advantage from the use of these key thoughts. Before 2007, the organization had secured half of the U.S. showcase. Be that as it may, after the starting of iPhone, Blackberry has lost its piece of the overall industry. The significant purpose for it is that, Blackberry did not actualized inventive plans of action or advances to fulfill upper hands over the contenders. For case, the organization disregarded touch screen based innovation and did not concentrate on strict security highlights. Therefore, with the assistance of creative plan of action, the firm would have the capacity to create inventive components in its items. The organization would likewise have the capacity to enhance its image esteem and picture according to its clients (Kaplan, 2012). Along these lines, it can be trusted that, inventive plan of action would have the capacity to recoup the lost picture and to enhance the market position of the organization in a strong and a huge way. References Amit, R. and Zott, C. (2010). Business model innovation: Creating value in times of change. Available At: https://www.iese.edu/research/pdfs/di-0870-e.pdf [Accessed on 13th Dec. 2016]. Carayannis, E. (2010). Strategic Management of Technological Learning. USA: CRC Press. Foss, N.J. and Saebi, T. (2015). Business Model Innovation: The Organizational Dimension. UK: Oxford University Press. HSGUniStGallen (2013). Business Model Innovation. Available At: https://www.youtube.com/watch?v=B4ZSGQW0UMI [Accessed on 13th Dec. 2016]. Kaplan, S. (2012). The Business Model Innovation Factory: How to Stay Relevant When The World is Changing. USA: John Wiley Sons. Kryscynski, D. (2015). What is Strategy? Available At: https://www.youtube.com/watch?v=TD7WSLeQtVw [Accessed on: 13th Dec. 2016] Porter, M.E. (2008). Competitive Strategy: Techniques for Analyzing Industries and Competitors. USA: Simon and Schuster. Thomson, N., Baden-Fuller, C. (2010). Basic Strategy in Context: European text and cases. UK: John Wiley Sons.