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Assignment 1) The objective of this essay is to develop your understanding of the business model as a concept and how a theoretical understanding of business models can be used to explain value creation, value appropriation and/or the innovation process at firms in real-life. To successfully complete this assessment, you are required to explore the academic literature on business models and to write an essay addressing the following statement: According to Zott, Amit and Massa who reviewed the state of business model research in their paper entitled, The Business Model: Recent Developments and Future Research in 2011, there are “at least three concepts that might warrant distinct consideration: (1) e-business model archetypes, (2) business model as activity system, and (3) business model as cost/revenue architecture. These distinct concepts could all be fruitfully investigated – individually, as well as in relation to each other – under the umbrella theme of the business model.” For the business student, this statement suggests that there are potentially a number of ways in which one could approach the problem of effective business model analysis, and design or re-design. Likewise, it suggests that the business model concept, when considering real world problems, must be approached with the specific business context in mind and to what extent change is inevitable. When you write your essay you should ensure you fully address the above statement and do the following: Define the concept of a business model. Explain what is involved when referring to the notion of an e-business archetype, business model as an activity system AND a business model as a cost-revenue architecture. Explain how these business model conceptualisations can be used to analyse and solve static and dynamic problems, including business model design/re-design problems. Explain what is meant by the term business context and the notion that change in business is inevitable. In regard to the latter, you should ground your arguments through the use of an example. The example you use should refer to an organisation that has been impacted by either one or a combination of the following phenomena: the rise of ‘big data’, the necessity to reconfigure the organisation’s value chains, technologies becoming more integrated and the introduction of ‘cities of the future’ initiatives. You need to explain how the organisation’s business model has been impacted by change and what this means for managers when making decisions about the organisation’s business model. Conclude by briefly discussing the significance of your findings for the future of business models research and practice. N.B. You should feel free to use diagrams to illustrate points in your essay, including develop hybrid frameworks and models of your own based on your research. Please note that the link to the above article can be found on Moodle. On-campus students will be briefed on how to approach the essay in the first weeks of the term. It is highly advisable that on-campus students attend the briefing. Online students will have the opportunity to discuss the essay topic in an online workshop early in term at a mutually convenient time negotiated with their lecturer. Likewise, it is highly advisable that online students attend the virtual briefing. You should include at least 5 references and no more than 20 references. All sources must be highly credible and fully referenced. Please note that academic misconduct and late submission penalties will apply to this assessment as per the university’s policies.
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