In The New, New Thing, Michael Lewis refers to the phrase business model as 'a term of art.' And like art itself, it's one of those things many people feel they can recognize when they see it (especially a particularly clever or terrible one) but can't quite define.
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That's less surprising than it seems because how people define the term really depends on how they're using it. Cantari cu acorduri crestline pdf.
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Lewis, for example, offers up the simplest of definitions — 'All it really meant was how you planned to make money' — to make a simple point about the dot.com bubble, obvious now, but fairly prescient when he was writing at its height, in the fall of 1999. The term, he says dismissively, was 'central to the Internet boom; it glorified all manner of half-baked plans … The 'business model' for Microsoft, for instance, was to sell software for 120 bucks a pop that cost fifty cents to manufacture … The business model of most Internet companies was to attract huge crowds of people to a Web site, and then sell others the chance to advertise products to the crowds. It was still not clear that the model made sense.' Well, maybe not then.
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A look through HBR's archives shows the many ways business thinkers use the concept and how that can skew the definitions. Lewis himself echoes many people's impression of how Peter Drucker defined the term — 'assumptions about what a company gets paid for' — which is part of Drucker's 'theory of the business.'
That's a concept Drucker introduced in a 1994 HBR article that in fact never mentions the term business model. Drucker's theory of the business was a set of assumptions about what a business will and won't do, closer to Michael Porter's definition of strategy. In addition to what a company is paid for, 'these assumptions are about markets. They are about identifying customers and competitors, their values and behavior. They are about technology and its dynamics, about a company's strengths and weaknesses.'
Instacal 1 9 5. Drucker is more interested in the assumptions than the money here because he's introduced the theory of the business concept to explain how smart companies fail to keep up with changing market conditions by failing to make those assumptions explicit.
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Citing as a sterling example one of the most strategically nimble companies of all time — IBM — he explains that sooner or later, some assumption you have about what's critical to your company will turn out to be no longer true. In IBM's case, having made the shift from tabulating machine company to hardware leaser to a vendor of mainframe, minicomputer, and even PC hardware, Big Blue finally runs adrift on its assumption that it's essentially in the hardware business, Drucker says (though subsequent history shows that IBM manages eventually to free itself even of that assumption and make money through services for quite some time).
Joan Magretta, too, cites Drucker when she defines what a business model is in 'Why Business Models Matter,' partly as a corrective to Lewis. Writing in 2002, the depths of the dot.com bust, she says that business models are 'at heart, stories — stories that explain how enterprises work. A good business model answers Peter Drucker's age-old questions, ‘Who is the customer? And what does the customer value?' It also answers the fundamental questions every manager must ask: How do we make money in this business? What is the underlying economic logic that explains how we can deliver value to customers at an appropriate cost?'
Magretta, like Drucker, is focused more on the assumptions than on the money, pointing out that the term business model first came into widespread use with the advent of the personal computer and the spreadsheet, which let various components be tested and, well, modeled. Before that, successful business models 'were created more by accident than by design or foresight, and became clear only after the fact. By enabling companies to tie their marketplace insights much more tightly to the resulting economics — to link their assumptions about how people would behave to the numbers of a pro forma P&L — spreadsheets made it possible to model businesses before they were launched.'
Since her focus is on business modeling, she finds it useful to further define a business model in terms of the value chain. A business model, she says, has two parts: 'Part one includes all the activities associated with making something: designing it, purchasing raw materials, manufacturing, and so on. Part two includes all the activities associated with selling something: finding and reaching customers, transacting a sale, distributing the product, or delivering the service. A new business model may turn on designing a new product for an unmet need or on a process innovation. That is it may be new in either end.'
Firmly in the 'a business model is really a set of assumptions or hypotheses' camp is Alex Osterwalder, who has developed what is arguably the most comprehensive template on which to construct those hypotheses. His nine-part 'business model canvas' is essentially an organized way to lay out your assumptions about not only the key resources and key activities of your value chain, but also your value proposition, customer relationships, channels, customer segments, cost structures, and revenue streams — to see if you've missed anything important and to compare your model to others.
Once you begin to compare one model with another, you're entering the realms of strategy, with which business models are often confused. In 'Why Business Models Matter,' Magretta goes back to first principles to make a simple and useful distinction, pointing out that a business model is a description of how your business runs, but a competitive strategy explains how you will do better than your rivals. That could be by offering a better business model — but it can also be by offering the same business model to a different market.
Introducing a better business model into an existing market is the definition of a disruptive innovation. https://vgcfw.over-blog.com/2021/01/onyx-3-3-9-maintenance-and-optimization-tool-kit.html. Ms excel environment. To help strategists understand how that works Clay Christensen presented a particular take on the matter in 'In Reinventing Your Business Model' designed to make it easier to work out how a new entrant's business model might disrupt yours. This approach begins by focusing on the customer value proposition — what Christensen calls the customer's 'job-to-be-done.' It then identifies those aspects of the profit formula, the processes, and the resources that make the rival offering not only better, but harder to copy or respond to — a different distribution system, perhaps (the iTunes store); or faster inventory turns (Kmart); or maybe a different manufacturing approach (steel minimills).
Joan Magretta, too, cites Drucker when she defines what a business model is in 'Why Business Models Matter,' partly as a corrective to Lewis. Writing in 2002, the depths of the dot.com bust, she says that business models are 'at heart, stories — stories that explain how enterprises work. A good business model answers Peter Drucker's age-old questions, ‘Who is the customer? And what does the customer value?' It also answers the fundamental questions every manager must ask: How do we make money in this business? What is the underlying economic logic that explains how we can deliver value to customers at an appropriate cost?'
Magretta, like Drucker, is focused more on the assumptions than on the money, pointing out that the term business model first came into widespread use with the advent of the personal computer and the spreadsheet, which let various components be tested and, well, modeled. Before that, successful business models 'were created more by accident than by design or foresight, and became clear only after the fact. By enabling companies to tie their marketplace insights much more tightly to the resulting economics — to link their assumptions about how people would behave to the numbers of a pro forma P&L — spreadsheets made it possible to model businesses before they were launched.'
Since her focus is on business modeling, she finds it useful to further define a business model in terms of the value chain. A business model, she says, has two parts: 'Part one includes all the activities associated with making something: designing it, purchasing raw materials, manufacturing, and so on. Part two includes all the activities associated with selling something: finding and reaching customers, transacting a sale, distributing the product, or delivering the service. A new business model may turn on designing a new product for an unmet need or on a process innovation. That is it may be new in either end.'
Firmly in the 'a business model is really a set of assumptions or hypotheses' camp is Alex Osterwalder, who has developed what is arguably the most comprehensive template on which to construct those hypotheses. His nine-part 'business model canvas' is essentially an organized way to lay out your assumptions about not only the key resources and key activities of your value chain, but also your value proposition, customer relationships, channels, customer segments, cost structures, and revenue streams — to see if you've missed anything important and to compare your model to others.
Once you begin to compare one model with another, you're entering the realms of strategy, with which business models are often confused. In 'Why Business Models Matter,' Magretta goes back to first principles to make a simple and useful distinction, pointing out that a business model is a description of how your business runs, but a competitive strategy explains how you will do better than your rivals. That could be by offering a better business model — but it can also be by offering the same business model to a different market.
Introducing a better business model into an existing market is the definition of a disruptive innovation. https://vgcfw.over-blog.com/2021/01/onyx-3-3-9-maintenance-and-optimization-tool-kit.html. Ms excel environment. To help strategists understand how that works Clay Christensen presented a particular take on the matter in 'In Reinventing Your Business Model' designed to make it easier to work out how a new entrant's business model might disrupt yours. This approach begins by focusing on the customer value proposition — what Christensen calls the customer's 'job-to-be-done.' It then identifies those aspects of the profit formula, the processes, and the resources that make the rival offering not only better, but harder to copy or respond to — a different distribution system, perhaps (the iTunes store); or faster inventory turns (Kmart); or maybe a different manufacturing approach (steel minimills).
Many writers have suggested signs that could indicate that your current business model is running out of gas. The first symptom, Rita McGrath says in 'When Your Business Model is In Trouble,' is when innovations to your current offerings create smaller and smaller improvements (and Christensen would agree). You should also be worried, she says, when your own people have trouble thinking up new improvements at all or your customers are increasingly finding new alternatives.
Knowing you need one and creating one are, of course, two vastly different things. Any number of articles focus more specifically on ways managers can get beyond their current business model to conceive of a new one. In 'Four Paths to Business Model Innovation,' Karan Giotra and Serguei Netessine look at ways to think about creating a new model by altering your current business model in four broad categories: by changing the mix of products or services, postponing decisions, changing the people who make the decisions, and changing incentives in the value chain.
In 'How to Design a Winning Business Model,' Ramon Cassadesus-Masanell and Joan Ricart focus on the choices managers must make when determining the processes needed to deliver the offering, dividing them broadly into policy choices (such as using union or nonunion workers; locating plants in rural areas, encouraging employees to fly coach class), asset choices (manufacturing plants, satellite communication systems); and governance choices (who has the rights to make the other two categories of decisions).
Quicktime mpeg playback component. If all of this has left your head swimming, then Mark Johnson, who went on in his book Seizing the White Space to fill in the details of the idea presented in 'Reinventing Your Business Model,' offers up perhaps the most useful starting point — this list of analogies, adapted from that book:
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The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future. At its heart are the 17 Sustainable Development Goals (SDGs), which are an urgent call for action by all countries - developed and developing - in a global partnership. They recognize that ending poverty and other deprivations must go hand-in-hand with strategies that improve health and education, reduce inequality, and spur economic growth – all while tackling climate change and working to preserve our oceans and forests.
Cartoon sound effects pack torrent. The SDGs build on decades of work by countries and the UN, including the UN Department of Economic and Social Affairs
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- In June 1992, at the Earth Summit in Rio de Janeiro, Brazil, more than 178 countries adopted Agenda 21, a comprehensive plan of action to build a global partnership for sustainable development to improve human lives and protect the environment.
- Member States unanimously adopted the Millennium Declaration at the Millennium Summit in September 2000 at UN Headquarters in New York. The Summit led to the elaboration of eight Millennium Development Goals (MDGs) to reduce extreme poverty by 2015.
- The Johannesburg Declaration on Sustainable Development and the Plan of Implementation, adopted at the World Summit on Sustainable Development in South Africa in 2002, reaffirmed the global community's commitments to poverty eradication and the environment, and built on Agenda 21 and the Millennium Declaration by including more emphasis on multilateral partnerships.
- At the United Nations Conference on Sustainable Development (Rio+20) in Rio de Janeiro, Brazil, in June 2012, Member States adopted the outcome document 'The Future We Want' in which they decided, inter alia, to launch a process to develop a set of SDGs to build upon the MDGs and to establish the UN High-level Political Forum on Sustainable Development. The Rio +20 outcome also contained other measures for implementing sustainable development, including mandates for future programmes of work in development financing, small island developing states and more.
- In 2013, the General Assembly set up a 30-member Open Working Group to develop a proposal on the SDGs.
- In January 2015, the General Assembly began the negotiation process on the post-2015 development agenda. The process culminated in the subsequent adoption of the 2030 Agenda for Sustainable Development, with 17 SDGs at its core, at the UN Sustainable Development Summit in September 2015.
- 2015 was a landmark year for multilateralism and international policy shaping, with the adoption of several major agreements:
- Sendai Framework for Disaster Risk Reduction (March 2015)
- Addis Ababa Action Agenda on Financing for Development (July 2015)
- Transforming our world: the 2030 Agenda for Sustainable Development with its 17 SDGs was adopted at the UN Sustainable Development Summit in New York in September 2015.
- Paris Agreement on Climate Change (December 2015)
- Now, the annual High-level Political Forum on Sustainable Development serves as the central UN platform for the follow-up and review of the SDGs.
Today, the Division for Sustainable Development Goals (DSDG) in the United Nations Department of Economic and Social Affairs (UNDESA) provides substantive support and capacity-building for the SDGs and their related thematic issues, including water, energy, climate, oceans, urbanization, transport, science and technology, the Global Sustainable Development Report (GSDR), partnerships and Small Island Developing States. Freeware ftp client. DSDG plays a key role in the evaluation of UN systemwide implementation of the 2030 Agenda and on advocacy and outreach activities relating to the SDGs. In order to make the 2030 Agenda a reality, broad ownership of the SDGs must translate into a strong commitment by all stakeholders to implement the global goals. DSDG aims to help facilitate this engagement.
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