Business Model Innovation Paper

1375 words - 6 pages

Introduction
In today's economic environment, businesses and organizations must meet the customer's demand by creating a different value that is not seen elsewhere. To achieve this goal, companies must have clear mission and vision statements to help lead the way and also must have a strong connection between innovation and strategic planning. This paper introduces the dynamics of Managed by Q and what factors play a role in helping Managed by Q decide how to operate and how to decide the best business model.
Innovation is the structural backbone of all successful businesses. The world is changing at a rapid speed, and no one can predict what tomorrow has in store. Organizations are facing many new types of vulnerabilities every day. Innovation, clear customer segments, and planned value propositions are tools that organizations can use to prepare for unforeseeable changes and to make new changes. The priorities of organizations differ depending on what the business is. When an organization fails to find a balance between the unique issues and values of their own, ignoring innovation or technology, or even implementing a strong business model inefficiently can bring the risk of losing its competitive advantage over its competitors, inefficiency to the operation, and even losing key employees.

Managed by Q Company profile Managed by Q provides plumbers, electricians, cleaners, handymen, helpers, and more for office cleaning and maintenance in New York. It facilitates users to order on-demand cleaning, helper, or handyman services through an iPad installed in offices. The company also offers supplemental cleaning and assistant services that include replenishing supplies, restocking bathrooms, light cleaning, setup and break down for events, tidying up after lunch, and resetting conference rooms and maintenance services. Managed by Q Inc. was incorporated in 2013 and is based in New York, New York. ("Managed by Q | We make it easy to run your office", 2017) Business model components identification Although there is a lack of consensus regarding the definition and construct of a business model (Lambert 2008, p. 278), the BM could be seen as an abstract representation of an organization, be it conceptual, textual, and/or graphical, of all core interconnected architectural, functioning, and financial arrangement designed and developed by an organization presently and in the future, as well as core products or services that the organization offers, or will offer based on these arrangements that are needed to achieve its strategic goals and objectives (Al-Debei and Avison, 2008).

Business models are seen to bridge the gap between the strategy, which involves positioning, objectives and goals of the company) and business processes which involves the understanding and implementation of strategic information.
Managed by Q business model can be better perceived if it is divided into the following key areas:
Infrastructure

Key partners
...

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