Business Model Canvas
The business model describes how My Home Services creates value, delivers and capitalize. The business model can best be described through nine basic building blocks. There are customer groups, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships and cost structure that show the logic of how a company intends to make money. In this chapter, you can see our idea how to collect electronic devices through the app of My Home Services. And we also give some recommendations to My Home Services how to structure in a scheme during the innovation progress (Quickview Dutch Introduction Business Model Generation, 2012).
Recommendations chapter: blue arrows > value proposition, customers, key partners, key activities, revenue model.
Value Proposition
My Home Services is committed to solve customer problems and provide customer needs with value propositions. The value proposition is the main reason why customers choose My Home Services over another. It is essential to focus on the customer segment, which is in the case of My Home Services, the manufacturers still the main customer, but for the innovation part, the clients are the end users of the app and who using the list on the EZSave-app and EZSupport-app. (How to write a value proposition for your company, 2010).
For manufacturers, the values that My Home Services is going to add are cost reduction and accessibility. This part we already discussed in the final report of block 3, 2014. In this block, we will focus on the value of innovation for our clients.
As I mentioned before, the main target groups in the innovation progress are the app users. They would put relevant information about ...
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...o thinking or believing that the counterfeit application is you. It can also paten original innovative disposal process. (Mobile App Intellectual Property)
Patent
Patents allow My Home Services to protect the functional and technical aspects of original app which they develop (Copyright for your business).
My Home Services also need to consider whether they are obtaining intellectual property rights only in the Netherlands or they also want to secure rights in other countries as well. It is apparently that getting rights in as many regions as possible is beneficial, but this means a lot of cost. Every country will have a specific cost in terms of securing the app. Therefore, it might be better to evaluate and consider all the factors before launching the new app to the market (Do you want an intellectual property protection in one country, or beyond? , 2013).
We aim to provide products, services, benefits and rewards that deliver more value than any competitor.
Define and explain the following: copyrights, trademarks, and patents. Compare the three and provide an example of each. This paper will be non-graded, but it is still highly recommended that you complete this assignment for increased practice and self-improvement.
Intellectual property protection has become increasingly popular in the last century. Many factors have probed interest in this area of the law. A few of those factors include musicians seeking protection of their musical talents through use of copyrights, companies seek to protect inventions of advanced production capabilities, companies create trademarks that differentiate their unique goods from competitors, and companies like Coca-Cola protect their undisclosed ingredients for their products through use of trade secrets. These examples are to gain an understanding of how and why intellectual property rights help companies seek advantages in the marketplace. Furthermore, as the world shrinks because of advancements in transportation and computer technology, intellectual property rights become a large part of entrepreneurship and product development. This paper will discuss the interesting and challenging topic of intellectual property protection. The four basic types of intellectual property include copyrights, patents, trademarks and trade secrets; we will discuss the intellectual properties in the order in which they are listed.
...ividuals and systems should be developed to encourage innovation in a flexible way with few legal restrictions. Government and investors should work towards improving the infrastructure of the nation by providing facilities and platforms making it simple for any individual to innovate.
When the buzzword of business model was very active and reactive during the internet boom, many individuals did not understand the concept of the proper business model for the proper business (Magretta, 2002). When not utilizing the right type of model for the organization, the model will be misused and distorted (Magretta, 2002). Understanding the traditional organization and learning organization, will allow an organization to determine which time of organization they desire the most.
Delivering value. Finally comes delivering. It may be compared to place in the 4Ps approach. However, it is different because, while place requires just having a place where the customer can buy a product, delivering also involves making sure the customer will be able to get the most of the product.
First of all, in order to get into further details of the tools used to discover and develop the valuable entrepreneurial opportunities for our product, I would like to address the actual product that my group are pitching. Our group came up with the idea of multi-function restaurant table tablets, compromising menus, payments and entertainments into an all-in-one system. The development of our idea start off from the customer experience mapping that we have conducted with some customers. Our group have brainstormed a few different ideas, but we have settled on this final idea. Reason being, we have learned from the course that a good business model yields value propositions that are compelling to customers, by creating a sustainable advantage and delivering significant value and effectively transforms payment received into profits (Teece, 2010, pp. 174). Therefore, with the valuable insights we have gained from what we have learned, our group then believed that our produ...
The feasibility study of a business’s design comprises of all strengths and weaknesses analyses within a particular business in order to determine whether the design is practicable and potential to benefit that business in a foreseeable future (Trimi, Berbegal-Mirabent 2012). To access this study, the researcher need to have a comprehensive understanding of the business’s resources and their interconnections which are included in the business model Canvas (Stephen, Richard 2014). This model is considered the most effective methodology in the process of supporting innovation and making decisions, thus, to assure the successfulness of a business or a project (Hanshaw 2015). This essay will discuss some central characteristics including customer
As society grows and evolves, technological advancements and innovations continue to develop and consistently change different aspects of our society. For an organization, understanding how to manage these innovations is essential for their proper utilization and implementation. With technological advancements and innovations constantly emerging, it is important for an organization to stay aware of which new technological innovations can help them be successful. Organizations are always looking to set themselves apart from competition through innovation.
A trademark is a distinctive indicator that used by a company or business to identify the brand, products or services. And the trademark can represent a logo, symbol, word and graphic. You can protect your logo or signature by applying/register through IPOS so that others will not have the chance to grab your ideas or even modify to look similar. Once acquired, a trademark can last indefi...
Innovation in business is a key aspect of staying viable in an ever changing climate of competition. One must continuously provide insight and solutions to issues, known and presently unknown through investigation and collaboration. Within this paper we will look into four businesses and their use of innovation in attempt at a better business or greater market share. The innovative businesses of interest are: Taco Bell, Zipcar, Dollar Shave Club and Kickstarter.
The product will reach out to the working class and the decision maker of the household the company looked at the following
Intellectual property is information, original ideas and expressions of the persons mind that have profitable value and are protected under copyright, patent, service mark, trademark/trade secret regulation from replication, violation, and dilution. Intellectual property includes brand items, formulas, inventions, data, designs and the work of artists. It is one of the most tradable properties in the technology market.
Group 6 Strategic Management Strategic management is the process where organization managers reach the goals and aspirations of the organization on behalf of its owners. This is done through formulation and implementation of ways and methods to fulfill the organizational goals and objectives (Brian, 2011). This is done with in-depth consideration of both the internal and external environments that the organization operates in, in order to allow the organization to make the right decisions. Strategic management is an important element that firms must put together through strategic thinking as well as strategic planning (Nag, R., Hambrick & Chen, 2007). In order for a firm to compete within its industry, it must plan and relate to the industry dynamics, determine its strengths and weaknesses before determining the best way to match and overcome competitors.
Customer Value is important to my company. My Company knows who purchase their goods and services and why these consumers view our offerings as having the highest value to them.