BUISNESS MODEL

Business Model

Business Model

Introduction

A business model also called a business design is the mechanism by which a business seeks to generate revenues and profits. In other business model intends to portray the plan or a summary of how a company plans to serve its customers and its stakeholders. Any business plan tends to integrate the proposed strategic steps along with its effective implementation (Achrol and Kotler 1999, p.150). However, in the context of this paper we tend to shape up a business model utilizing business model canvas tool.

Discussion

This section of the paper tends to discuss the key aspects of the business model based on the key elements of business model canvas tool.

Key Partners

Since the business mode in the context of this paper tends to formulate a plan for a chain of retail book shops in Ireland to achieve its objectives of profit maximization. Thus, such a business plan seems to be based highly on customer relationships. Unlike the conventional retail book shops the new plan tends to suggests that that the customer should be thought of as the new partners for the long term partnership. The dependence on one or two suppliers won't result in widening the horizon of the type of the book available.

Key Activities

Key Activities tends to be a part of the infrastructure for any business since it is the activity or the factors which different businesses acquire to attract customer. In order to survive in this highly competitive world it is necessary for a retail book shop to indulge itself in some special discounts or special offers. Plus as a retail book shop it needs to effectively manage its supply chain mechanism in order to lower the costs of the books being sold as compared to its competitors. Along with special offers and discounts, low costs will help the book store excel (Adamic 2001, p. 5).

Customer Relationships

Since, our value proposition tends to inculcate a convenience factor for its current set of customers thus our relationship with our customers intend to be based on dedicated personal assistance. This would allow a special sales representative to be attached to a current set of customers (Adar and Huberman 2000, p.205). This will allow a retail book shop to cater in a much more effective way to its customers. Whenever, a new arrival of the interest catering to a specific group the sales representative will pitch it to each of the ...