Academic Skills For Business Assignment Sample
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1. Teece, D.J., (2010). Business models, business strategy and innovation. Long range planning, 43(2-3), 172-194.
Summary of findings
On the basis of the research of Teece (2010), it is recognized that the main purpose of this study is to develop the understanding of the significance of business models. Similarly, this article helps to explore the business strategy, innovation management, and economic theory for the success of a business firm. In order to make the business successful, this study provided the understudying to make effective the business through the use business model, business strategy, and innovative ideas. In this paper, the researcher trying to address the different issues, that are facing by business organizations due to changing in the global economy. At the same time, as per the findings of Teece (2010), it is identified that the current business environment is changing rapidly due to new and innovative technology. The customers and suppliers are attracted to a business organization which uses advanced technology. The new business environment needs to consider an effective business model that can be helpful to fulfill the customers need. In addition, it can also be said that the use of business model and strategy is helpful for a firm to satisfy the customer as well as reduce the overall cost of the company. It is because the new and innovative technology provides the competitive advantage and reduces the cost and enhances the productivity.
In this paper, Teece (2010), also stated that each business includes a particular business model for the success of the business that describes the design of the value creation and delivery. In the effective business model, a firm focuses on the customer needs and their ability to pay for service and product to develop the value. At the same time, a business model also helps the company to achieve the organizational goal and objective of meeting the customer needs. In addition, it is also found in the study that a business model is developed by an organization to get a competitive advantage and develop the business at the global environment. As same, it provides the sustainability to the business in the global environment where it can get success with hard challenges. An effective business model evaluates the quality of design and implementation of internal and external factors of the company. In the worlds of Teece (2010), it is defined that in order to do the business, an entrepreneur must use good logical way by business model to get a competitive advantage. In the findings, it can also be said that the particular literature was developed for the success of the business through the use of the business model, strategy, and innovative ideas and technology. This strategy and modal can also be changed by the company as per the requirement of environmental change and successfulness of the business. The technological innovation is much advantageous for a business firm in the information technology, machinery and supply chain management. Thus, it can be said that the technological innovation provides the successful strategy and model to a business.
2. Smart, P.A., Maddern, H. and Maull, R.S., (2009). Understanding business process management: implications for theory and practice. British Journal of Management, 20(4), 491-507.
Evaluate the findings
According to the chosen research paper, it is acknowledged that it contributes to provide a conceptual model of business process management that is helpful to provide an effective BPM theory for the success of a business firm. In the research of Smart et al., (2009), it is evaluated that the primary focus of the study is on the development of the model of business process management. This model includes some key themes that provide the systematic review such as process strategy, process architecture, process ownership, process measurement, and process improvement. Moreover, it is also evaluated that this literature has also focused on the application and initial assessment of the different organizations of the financial services field to identify their performance. In order to measure the discipline, the business process management includes several methods in the operation management. At the same time, it is also acknowledged that the business process management is an integrated model that considers the application of BPM and conceptual underpinnings. This process contributed to developing the understudying about the process strategy that provides the better quality and assurance to the firm by the use of available resources in the organization. Moreover, the general process system like computer includes a structural design to reduce the complexity that is known as process architecture (Smart et al., 2009). The six sigma success is mostly based on the process ownership in the BPM that includes the process owners. The process measurement and process improvement techniques are the control system of the business process management to improve the quality of the business.
Limitations of findings
As per the finding, it is recognized that the main focus of the paper is only the operation management but an organization also includes several departments such as HR management, supply chain management, resource management, financial management, etc. In addition to this, it is also defined that a manufacturing organization has most focus on the product quality and market review. But in concern to this study, it has a high focus on the service sector than manufacturing unit because extensive of the practitioner attention in this sector. Along with this, the research is based on the primary and secondary source of data but in the primary research, the researcher has selected only the interview method (Smart et al., 2009). In the interview method, the data are collected as per the viewpoints of only seven experienced senior managers that can a reason for reduction in the reliability. As per this, it can be said that the use of business strategy is not much helpful for a firm to satisfy the customer as well as reduce the overall cost of the company. Additionally, this study is also providing a new insight into the business process management but there might be possible that it can create some new issues and challenges for the business organization. This literature also includes a limitation that it did not provide an implementation of BPM in an effective and sustainable.
References
Smart, P.A., Maddern, H. and Maull, R.S., (2009). Understanding business process management: implications for theory and practice. British Journal of Management, 20(4), 491-507. Retrieved from: https://ore.exeter.ac.uk/repository/bitstream/handle/10036/3448/0708.pdf%3Bjsessionid%3D5AD0AF4D06A5BA8D54B8189B3EEED299?sequence%3D9
Teece, D.J., (2010). Business models, business strategy and innovation. Long range planning, 43(2-3), 172-194. Retrieved from: http://www.bmcommunity.sitew.com/fs/Root/8jig8-businessmodelsbusinessstrategy.pdf
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