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For this report I was assigned to write an eassy and also talk about the relationship between business models, theory and techniques and also the practical benefits and application of such model. And also I had to use the porter five forces, Maslow theory, and techniques.
On this Essay I will need to put in writing a report of essay of between 2750 and 3000 words which is going to critically assess the connection between Business models, theories and techniques and the practical benefit and application of such models.
The main relationship between business models, motivational theories and analytical tools & techniques are listed as following an Analytical technique which is the fundamental process of accessing a business's environment through a use of a format. However if an organisation decides on the way forward. Most of them Marketers might have a variety of analytical techniques available to help them consider their options. On the other hands if the Marketing information is used to make effective use of the analytical techniques which an organisation can use to identify the changes it should make to achieve its ambitions.
BTEC national. Business book 1, 2nd edition, David Dooley, Rob Dransfield, John Goymer,
the Motivation theory which is the main processes which illustrates, and how human behaviour. I have listed two main different categories of motivation theories such as content theories, and process theories. The main content theory of motivation mainly focuses on the internal factors that energize and direct human behaviour.
The Business model which can be describe as how a business positions itself within the value chain of its industry and how it intends to sustain itself, this is to create revenue. For the most part basic sense, business model which is a method of doing business by which a company can sustain itself and which also generates revenue.
A Job rotation which is the movement within a workplace or between different jobs; job rotation has it way of keeping employees from complacency and boredom of the same routine carried out on a daily basis.
An example for analytical technique is job rotation: well as we all know a job rotation which is the main come within reach of management development, job rotation which is where an each person has to move in a to-do list of project which are specially designed to enable him/ her breadth of publicity to the entire of the operation of the organisation. And also job rotation which can allow most qualified people to have access or even gain more insight into the company's process. And also job rotation is when the employees are able to move from one job to another at the same time into the organisation. However the Job rotation may offer the advantage of making it easier to cover for absent colleagues, but it may also reduce' productivity as workers are initially unfamiliar with a new task.
All Businesses tend to use job rotation as part of both Maslow's and Herzberg theory which both of them have different option on theory, Maslow's which is tell the employees and employer that the theory of motivation is that human beings are motivated by unsatisfied needs, and that certain lower needs need to be satisfied before higher needs can be addressed Maslow's basic theory which are Self-Actualization, that we must satisfy each need in turn, starting with the first, which deals with the most obvious needs for survival itself, whereas Herzberg conducted that factors as a company policy, supervision, the international relation and the working conditions and the salary are the hygiene factors which are rather motivators. Therefore on Herzberg's theory is the absence of hygiene factors which creates a job dissatisfaction, however their presence which doesn't not motivate satisfaction. As we can see both theories have different means when in come to businesses.
BTEC national. Business book 1, 2nd edition, David Dooley, Rob Dransfield, John Goymer.
Applying Human Resources to a Restaurant: in a restaurant for example they uses job rotation as followed, for example an employee might be moved from washing up, to waiting on tables, to preparing drinks and then preparing starter. This may be a result that these are roughly at the same levels and by increasing the variety in their work so this can increase their employee's motivation.
Applying Maslow's hierarchy of needs to business environment
Example of the business environment to the University of Bedfordshire, the University of Bedfordshire uses the business environment as followed.
The University of Bedfordshire which they seem to need the physiological needs for example: the clean environment, student's accommodation, cafeteria, bursary, all the student services and library are used to persuade both students at the university as them are required to sustain life.
Safety and security needs:
the university offers CCTV and Security Guards in order to keep the students and staff safes, the Security and the Guards which are often Security officers which act and protect property the university by maintaining a high visibility presence to deter illegal and inappropriate behavior, both security and guards which are observing either directly or through by watching alarms systems or video cameras
Self- esteem needs:
Finally year results: well as we all know that the university which offer a finally results to its students which enable the student to know whether they have achieved their first year or not.
Promotion: The university which often provides promotion to its staffs which detailing the new job and its responsibilities and also promoting then to a high level of their job.
Safety and security needs:
the university offers CCTV and Security Guards in order to keep the students and staff safes, the Security and the Guards which are often Security officers which act and protect property the university by maintaining a high visibility presence to deter illegal and inappropriate behaviour, both security and guards which are observing either directly or through by watching alarms systems or video cameras.
Accommodation: The University of Bedfordshire offer accommodation to student in order for them to be able to live in their 1st, 2nd and final year in the university.
Bursaries and scholarships: The University of Bedfordshire offer to its students Bursaries and scholarships which are the extra sources of financial help from colleges and universities. And they are usually paid on each semester.
The bursaries and the scholarships are usually students get in a direct payment from the University of Bedfordshire, both Bursaries and scholarships which provides then the support of Discounts on accommodation, discounts on books
Free transport: the university which offer a free bus transport for its students and also for its staffs: (for example, by providing a bicycle)
Bonus- the university which offer bonus to its staffs as a performance-related pay which is mostly relating on how well its staffs works in the workplace. An experience staff for example may be paid as going into high position or may be transfer into another university.
Promotion- this is the progression of the staffs to a superior in terms of superior job in terms of superior responsibility, a greater skills and more status and also a greater than before pay rate.
The Porter's Five Forces: Porter's five Forces tool which is simple but powerful tool for understanding where power lies in a business situation. Business uses the pestle in order for them to be to analyses the many different types of factors in the company's macro environment. For example if factors appear in several categories managers which simply makes the decision of where they think that it might belong. On the other hand it is important not to just list PESTEL factors because this does not in itself tell managers very much. What managers need to do is to think about which factors are most likely to change and which ones will have the greatest impact on them i.e. each firm must identify the key factors in their own environment. It is also important when using PESTEL analysis to consider the level at which it is applied.
Definition of Maslow hierarchy of needs: the main interpretation of Maslow's hierarchy of needs, represented as a pyramid with the more basic needs. Abraham Maslow which the author of Maslow hierarchy of needs suggested that the needs of an individual are which are based on a set of needs that this could be ranked into a hierarchy. On the lower- ranking needs which are the need for food, water, and the shelter which are the most important basic, he also outline that the basic need will have to also met first employees can be motivated by, Maslow 's theories which is known as the Maslow hierarchy of needs:
In this pyramid we can see Maslow hierarchy of needs:http://dinamehta.com/blog/wp-content/uploads/2007/10/800px-maslows_hierarchy_of_needssvg.png
Btec Business National, Business Book 2, 2nd edition page 57, 58)
Example of a business model in Asda's: the business model for Asda's business model is Asda is trying to focus on trying to improve what they do for their customers. Therefore what Asda is aiming to make their shopping experience as easy as possible, lower prices where they can to help them spend less, give them more choice about how they shop - in small stores, large stores or online - and they also seek to bring simplicity and value to sometimes complicated markets. Asda's aim to be a high-quality neighbour in the communities that serve, be responsible, fair and honest in our dealings and give customers the information and products they need to make greener choices.
This is a very significant to analyze that these five forces and their affect on companies that BT's would want to invest in. The Porter Five Forces Analysis will give us an improved justification.
The Porter's five forces: the porter five forces help the entire marketer to contrast a competitive environment. Also the Porter's fives forces which is the framework of an industry analysis and which was developed by Michael Porter, the five porter forces which was a framework which models was an industry as being influenced by five forces.
(Btec Business National, Business Book 2, 2nd edition page 82)
Applying Marketing to Asda's using five forces.
Michael Porter suggested that the collective strengths of the five forces are determining the state of competition and therefore the ultimate profit potential within a business. The five competitive forces are identified by porter are listed as followed:
The Barriers to entry: individual the highest retailing company in the UK Asda which is likely not to be affected by threat of new competitors. This is because the company has good brand development that has been in establishment for quite a long time and therefore has been able to raise a lot of investments and therefore has the biggest retailing company within the UK. Asda have been putting up considerable barriers of entry and therefore imposes barriers on new supermarket chains openly. For example Asda has an impact on the grocery market especially with suppliers and therefore as a result if new supermarkets to approach they would have it very difficult to find cheap, quality and reliable suppliers due to Asda empowerments over those suppliers.
Threat for substitute: Asda have a lot of competition from companies such as Tesco Waitrose and Sainsbury which they all provide substitutes for their goods. Therefore as a result drives the prices of groceries down these companies; because of the economy at this stand predicts that the rivalry between these companies will drive their revenue or profitability to nil. The retail market which is always trying to find accessibility on new innovations with respect to the products and other business to make shopping a good experience for the consumers, which is difficult to substitute no matter how much effort the competitor put into.
Competitive rivalry Asda which has the biggest Competitive Rivalry from major competitors such as Tesco ,Sainsbury, Morrison, and Waitrose within the food retail industry. Asda and its rivals at the moment are competing with one another through price, product and promotions at regular intervals. These are the competitors which might have been opened stores near Asda's franchise stores making it very competitive for Asda to maintain its customers.
Power of buyers: The power of buyers can influence on a product of a firm, this is for the reason that customers are likely to move to other retailers if prices set by Asda are too high. For example if the cost of milk is too expensive in Asda, then the buyers move to another supermarket who sells the same product at a cheaper price. For the reason that the present economic stability within the UK is much affect by recession and for those reason buyers will be looking for reasonable prices being purchasing a product.
Power of Suppliers: for most of the general public tends to do most of shopping in big supermarkets such as Asda itself, it gives Asda a great advantage over the smaller shopkeepers. Therefore Asda which has all the main ability to dictate the price they want to pay to the suppliers and if the suppliers do not agree then they will be left with no retailers to do business with. The Supplier power is wielded by suppliers demanding that retailers pay a certain price for their goods. If retailers don't pay the price, they don't get the goods to sell. But large supermarkets.
The Differences and similarities between models, theories and techniques.
Looking at Maslow hierarchy of needs this is often describe as the pyramid and which are the need at the bottom of the pyramid of the Maslow hierarchy of needs and which are the physical needs which are include the need for food, water, sleep and warmth, where business model is all about the working description which included all the general details about the operations of the business and its company itself. the business model which is all about the address all functions of a business, and therefore this can be include such factors as the expenses, revenues, operating strategies, corporate structure, and sales and marketing procedures. And the technique which is all about the analytical technique is the main to determine the concentrations of the entire chemical which are compound. The similarities of between models, theories and techniques are that it is very important for business, in order for them to be able to using in order to identify their competitors and also their customers as well. They might not have the same similarities but they all applied for the same use, although they all have different uses, they are very important for companies to use. As well know all business that they all need to apply a business model, theory and techniques to their companies, this is for them to be able to recognise which business model, theory and technique that will be more reliable for them to use.
Conclusion: by just at the looking the end of my report I believe that companies should be able to use business model, theories and techniques. In order for them to be to analysis, it also very important for companies to how what types and how to use the business model, theories and techniques. Then the Business model will be able to allow organisations to conduct business together in new ways. The paradigm under which an organisation operates does business in order to accomplish its goals, the business model which will also include a consideration of what the business may offers of value to the marketplace.