The paper "Conceptualization of Various Types of Business Models - Toyota" is a perfect example of a business case study. A business model explains how the company can create value for its customers and how this value is captured by the company’ s stakeholders. It acts as a blueprint for the organization’ s future business plans (Baden-Fuller and Morgan, 2010). It helps to understand that whether the future business plans of the organization would prove to be beneficial only to the organization or it will have an impact on various sectors (Baden-Fuller and Morgan, 2010).
A business model also serves with relevant answers to certain questions about the target customers and their needs and the strategies applied by the organization and fulfil the customers’ needs (Casadesus-Masanell and Ricart, 2010). A business model also gives an idea about the challenges that the organization may face during the business process and the way the company would react to such challenges (Casadesus-Masanell and Ricart, 2010). A business model can be conceptualised in various ways. The company should choose its model rationally because the model would decide the company’ s future growth prospect.
Every company has got its most important objective to meet the customer demands and also to meet the desires of the stakeholders. A business model is a tool that is even useful for investors who would make their investment decisions based on the model specifications (Casadesus-Masanell and Ricart, 2010). Hence, the main objective to carry out this research work is to determine the probable cause for so many business models and the way modern innovation has been exploited in the last five years using any of the business models.
Through this research, it gives an opportunity to the researcher to understand the different business models and their valuations and how far they have contributed to the organization’ s growth prospect. Conceptualization of various types of business modelsThe research on business models is important to understand different types of models used by various companies. However, in this paper, the researcher discusses three types of business models. The Advertising ModelAdvisements play a very significant role in creating awareness about a particular product that has been newly launched by the company.
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