Abell's Business Model - Week 2 Assignment - Running head Abells Business Model 1 Abells Three-Dimensional Business-Definition Model Marvin Phelps MGT

Abell's Business Model - Week 2 Assignment - Running head...

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Running head: Abell’s Business Model 1 Abell’s Three-Dimensional Business-Definition Model Marvin Phelps MGT 450 Strategic Planning for Organizations Instructor Autumn Burton June 8, 2015
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Abell’s Three-Dimensional Business-Definition Model 2 Abell’s Three-Dimensional Business-Definition Model Abell proposed the three dimensional business model. According to him, strategic planning is the starting principle for any organization, and this process is usually defined in the organization’s mission statement. A mission statement accords direction to the organization and provides the basis for the further elaboration of strategies. Three dimensions define the mission statement: a Customer groups (Who are its customers?) b Customer needs (What are their needs?) c Capabilities and technologies (How are their needs met?) The mission statement should contain all the three dimensions (Abraham, 2012). Customer groups Marketing is all about the organization’s buyers. Without them, there would not be a market. The first step is brainstorming about what kinds of customers or customer groups can buy or use the product a product an organization intends to come up with. By having a thorough knowledge of its customers or customer groups, then the organization can make targeted product offers. Customer needs The organization needs to identify and list customer needs that are relevant to it. They are determined on the basis of the product. A software manufacturer, for example, responds to the needs by delivering software packages that can easily be installed by laypeople. They also offer
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