Article Review Why Business Models Matter - 1343 Words

In the business world, strategy is probably the most often used and the most often confused term. The article ‘Why Business Models Matter’ clarifies and elaborates on crucial element of any organization. The Author, who also wrote, ‘What Management is’ asserts that the business model and strategy is the basis of any organization whether it be profit or non-profit. Magretta shows the outlines of business model and strategy. To make a big success in business, the first step is making a business model, when making a new business model, managers must think about all possible outcomes. She goes on further in the article to give examples successful organizations and their use of strategies to compete within the industry. Defining the†¦show more content†¦The game of strategy is about being different and staying different. How is this achieved? Formulating a business model need not be as complicated as predicting the future market and the actions of competitors. However, as Magretta mentions, strategic thinking is necessarily an interactive process. As the game theory argues, every move will evoke a response from your competitor. It is crucial to be able to perceive the future implications of a certain strategy that an organization formulates. A manager must be able to think in the ‘competitors’ shoes.’ From the Pepsi Cola bottle design example, we can see that Pepsi foresaw the effects of their strategy and its effect on Coca Cola. By understanding the need of lighter-weight bottles of customers and Coca-Cola’s iconic brand image of the glass bottle, Pepsi was able to create value for itself as well as destroy value for Coca-Cola through this kind of interactive strategic thinking. Applying the Business Model and Strategy: Effective Intra-communication As mentioned in the article, a good business model tells a good story. Effectively communicating an organization’s business model and strategy to all the members (employees) of the organization can enhance the company’s performance. By understanding where each individual stands and how they contribute to the value chain,Show MoreRelatedThe Cloud Of Cloud Computing1673 Words   |  7 PagesReview of Literature Cloud Computing Definition The topic of the cloud computing industry and security is broad with far reaching intricacies. Therefore, to narrow the subject, the definition of cloud computing as defined by the National Institute of Standards and Technology (NIST) (NIST Special Publication 800-145, 2011) will be used as the foundation for this study. The NIST adopted the (Mell Grance, 2010) cloud computing definition in 2011. 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