Antecedents of Business Model Innovation †MyAssignmenthelp.com

Question: Discuss about the Antecedents of Business Model Innovation. Answer: Introduction Telstra has captured the leading position in providing the telecommunication services to the people throughout Australia. The major motto of the company is to connect people worldwide and provide them the most efficient network facilities (Telstra.com.au 2017). The company is looking forward to implement the effective strategic decisions to sustain the competitive position in the Australian business market. Telstra is thus focusing on the market and customer needs and accordingly improving the internet network services to gain the customer base. The company prefers to concentrate on the target market and service based demands to structure the strategic functionalities. Strategic decision making depends on the location of the competition, the unique value of the service, available resources, and the process of sustaining the position. The ideas derived from the second video are also implying the similar aspect. The business model innovation depends on the resource and capability, which is necessary to develop the competitive advantage for a particular business (Demil and Lecocq 2015). The third video provides the CAGE model specification. The major focus of this model is to establish the transparent interaction for the business deals. It is suggested that the proper interactive process helps in minimizing the differences between the dimensions. It is quite beneficial in developing the links with the companies worldwide. Implementation of these ideas by Telstra Telstra is the leading telecommunication service provider in Australia. The company has focused on establishing the strategic direction by focusing on the customer needs. According to Amran and Keat Ooi (2014), the focus on the customer demands is one of the most efficient strategic decision that can help a company to secure the competitive edge. Telstra has concentrated on the current internet driven market. Telstra is concentrating on such needs and improving the telecommunication as well as the internet network. The wide range of the service portfolio of Telstra is the most fruitful resource and capability to develop the competitive ground. The business model structure depends on the implementation of the innovative ideas (Narayan and Volberda 2017). Following this need, David Thodey, the CEO of Telstra has decided to buy new companies for the investment purpose and expanding the business in other countries. Moreover, the CEO is much focusing on targeting the startups and launchin g the company into the new industries (Alex Heber 2017). The initiative is quite beneficial in mitigating the cultural differences and enhancing the business performance. Such strategic decisions undertaken by Telstra are ensuring growth for the future prospects. JBS Australia is holding the largest position in the meat processing business. It is also considered as the largest processing company of the animal protein. The associates in this company work in groups and they strive to uphold the discipline, strategic planning, determination, and sincerity of the company. With the capability of processing more than 21,000 small stocks and 8,000 cattle daily, the company has built up the food network chain all over Australia (Jbssa.com.au, 2017). JBS Group maintains the highest level of the animal welfare, food safety, customer service, and commendable product quality. Currently, the company is exporting domestic beef and lamb to other countries as well. Ideas derived from the Video One of the video explains that in order to structure the proper strategic functionalities, it is essential to judge the market and execute the relevant time management process. The execution of the work functions should be appropriately maintained to facilitate the profitable consequences (Schneider and Spieth 2013). Even it helps in delivering the expected outcomes if the sequence is maintained properly. However, it is suggested that developing the directive and sequential planning is essential to structure any strategic functionalities. Moreover, it is a major concern for the future sustainability. The business model innovation depends on the structured planning. It is necessary to implement one business model at a time and it should be well communicated. On the other hand, the CAGE model refers to the regional trading that holds some of the similarities between two dimensions. Hence, it is preferable to select the similar official language for communicating in an effective and transparent way. Implementation of these ideas by JBS Group JBS group is quite influenced by the market competition. Therefore, the company is looking forward to structure the business by suggesting some of the strategic plans. For example, JBS Group is concentrating on establishing the value chain process to ensure the unique value of the products. The company is thus undertaking the initiative of communicating with the market partners. It is suggested that creating the close working relationship with the business stakeholders would be beneficial for understanding the demands and preferences (Schneider and Spieth 2013). Similarly, the logistic department of JBS Group has decided to establish the effective relationships livestock producers (Ampc2016.com.au 2017). Communicating with the market demands is helpful for the company to plan the value chain process. On the other hand, the company is also focusing on educating the brand differentiation process. Harnessing the market knowledge is much profitable to making the customers aware of the pr oduct diversifications (Lafi and Josserand 2016). It is necessary to mention that the companies require observing the major influences driving the customers decisions. Delivering value to the customers preferences is the most preferable strategy to measure the business profits. Following such aspect, JBS Australia is focusing on improving the quality parameter of the grounded beef and lamb. It is needless to point out that the company has established the most significant position in the meat export market. The understanding of the customer demands is the driving force to adopt the beneficial strategic techniques (Jansen et al. 2013). Accordingly, the company is structuring the innovative business model by improving the value chain logistic process. It is presumed that JBS group would capture the competitive position in the global market very soon. References Alex Heber, S., 2017.6 things David Thodey did to change Telstra. [online] Business Insider Australia. Available at: https://www.businessinsider.com.au/6-things-david-thodey-did-to-change-telstra-2015-2 [Accessed 22 Aug. 2017]. Ampc2016.com.au, 2017. [online] Available at: https://ampc2016.com.au/mt-content/uploads/2016/12/mark-inglis-presentation.pdf [Accessed 22 Aug. 2017]. Amran, A. and Keat Ooi, S., 2014. Sustainability reporting: meeting stakeholder demands.Strategic Direction,30(7), pp.38-41. Demil, B. and Lecocq, X., 2015. Crafting an innovative business model in an established company: The role of artifacts. InBusiness models and modelling(pp. 31-58). Emerald Group Publishing Limited. Jansen, R.J., Cur?eu, P.L., Vermeulen, P.A., Geurts, J.L. and Gibcus, P., 2013. Information processing and strategic decision-making in small and medium-sized enterprises: The role of human and social capital in attaining decision effectiveness.International small business journal,31(2), pp.192-216. Jbssa.com.au, 2017.JBS Australia. [online] Jbssa.com.au. Available at: https://www.jbssa.com.au/ [Accessed 22 Aug. 2017]. Lafi, A. and Josserand, E., 2016. Legitimation in practice: A new digital publishing business model.Journal of business Research,69(7), pp.2343-2352. Narayan, S. and Volberda, H.W., 2017, January. Understanding Managerial Antecedents of Business Model Innovation. InAcademy of Management Proceedings(Vol. 2017, No. 1, p. 16573). Academy of Management. Schneider, S. and Spieth, P., 2013. Business model innovation: Towards an integrated future research agenda.International Journal of Innovation Management,17(01), p.1340001. Telstra.com.au, 2017.Telstra - mobile phones, prepaid phones, broadband, internet, home phones, business phones. [online] Telstra.com.au. Available at: https://www.telstra.com.au/ [Accessed 22 Aug. 2017].