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Business model innovation types [62] When an organisation creates a new business model, the process is called business model innovation. [63] [64] There is a range of reviews on the topic, [62] [65] [66] The concept facilitates the analysis and planning of transformations from one business model to another. [66]
Business strategy drives selection of business models. These business models drive the design of underlying processes and services. Business Analysis is critical: Any number of models can address a strategic imperative. But the best models, services and processes will exploit existing business capabilities (human, IT and physical), the areas where change is possible and the areas where invest
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
Enterprise modelling is the process of building models of whole or part of an enterprise with process models, data models, resource models and/or new ontologies etc. It is based on knowledge about the enterprise, previous models and/or reference models as well as domain ontologies using model representation languages. [3]
Innovation, although not sufficient alone, is a necessary prerequisite for the continued survival and development of enterprises. [10] The most direct way of business innovation is through technological innovation, disruptive innovation or social innovation. Management of innovation, however, plays a significant role in promoting technological ...
Business anthropology and ethnographic methods can be used to empirically explore and analyse values and values-based cultural practice within and across organisations, or for different stakeholder groups. [25] [26] Values-based business modelling activities can facilitate the exploration and elaboration of values-based business model innovation.
The formal model of artifact-centric business processes and views, namely ACP, is defined and used to describe artifacts, services, business rules that control the processes, as well as views. They developed a bottom-up abstraction mechanism for process view construction to derive views from underlying process models according to view requirements.
Specific business capabilities in business capability models can be titled using either a noun-verb style or a verb-noun style, e.g. "product development" or "develop products". [6] [7] [8] In their simplest form business capability models can show only structured sets of nested business capabilities and sub-capabilities.