ExerciseOne_Short - Running Head EXERCISE ONE 1 Shayne...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Running Head: EXERCISE ONE 1 Shayne Short BUSI 690-D10 Liberty University November 15, 2016
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
EXERCISE ONE 2 Business Model Generation Exercise Question 1 There are many things a business must do in order to become successful. One of which is to create and implement a sound business model. Although each successful organization has a business model, the model itself is different from one organization to the next. This is due to the scholarly definition of a business model, which can be defined by Osterwalder and Pigneur as ‘the rationale of how a business or organization create, deliver, and capture value [Ost10]. Since there are a plethora of sectors in the business world, there is no surprise that a business model in the automobile industry is not the same as an organization who is in the lumber industry. Despite the fact that the book definition of a business model is somewhat vague, the purpose of the business model is the same for each and every business. The main idea, or purpose, of the business model is for the company to ensure that their management team has the proper opportunity to prosper. For this to happen, the management team must be given the resources that would allow this to happen so they are able to generate, provide, and capture value for the company they work for. By giving the management team these opportunities, the business is put in a position where developments are always in the horizon via exploration and possibilities for the company. Question 2 As stated before in the definition of a business model, a firm must create, deliver, and capture value. This is critical for an organization to be successful in the ever changing business
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern