Volvo Business Strategy Essay
Question
Business Essay: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 they used to be. The basic rules of the game for creating and capturing economic value were On fixed in place tor 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 destructon” (de Jong & van Dijk, 2015). Volvo Business Strategy Essay
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Specificaity, your essay is required to:
1. Clearly and succinctly define the terms ‘business model’ and ‘disruption’ based on a short literature review.
2. Anatyse the oppodunities 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:
- Cochlear. Australia (link). Cochlear implant manufacture and service
- Commonwealth Bank, Australia (MK). Banking and insurance.
- Domino’s Pizza. Australia (link) Fast food restaurant
- LEGO Denmark (link). Toy manufacturer.
- Procter & Gamble, United States (link). Manufacture of disposable nappies and many other products.
- Volvo Group, Sweden (link). Manufacture and service of trucks and construction equipment.
- Strava. Unftecl States (link). Social Fitness appliCatson.
- 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.
- It you suggest an organisation other than the ones above, you will need approval from the assigned lecturer.
3. Use toe business model frairnework by Osterwaldef and Pigneur (201 0) 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 (Chestirougn 2010: Johnson, Christensen, & Kagemiann, 2008).
5. Conclude by briefle discussing the significance of your findings to the business and its business model and the future of the business
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Answer
A business model is a method that the company uses in order to generate more income and also yield profits so as to achieve its goals and objectives (Zott, Amit, & Massa, 2011). The business model provides guidance to the management of any firm on the techniques to employ so as to earn more income and also for the continued success of the firm (Osterwalder & Pigneur, 2010). Once the best products to use are set, then the business plan is completed hence leading to the creation of a business model. In this task, we are going to look at the business model of the Volvo Group located in Sweden which is involved in manufacture and service of trucks and also constructs equipment. We will review the business model of the firm, the resources, its significance, value, and SWOT.
The Volvo Group is a manufacturing firm which produces buses, trucks, and construction equipment….Show More Content….