Business Models and Technological Innovation Management

Question: Discuss about the Business Models and Technological Innovation Management. Answer: Introduction: The business model helps the company to satisfy the needs and look after the problems of the customer with respect to the product of the company. It helps the company to gain value in the market. The performance, design, price etc. are few of the characteristics that the company needs to keep in mind before launching the product in the market. The model helps to segment the market according to the customers that the company targets with the help of different channels to make the product available in the market. The cost of the product helps the company to build a relationship with the consumers that help the brand to gain access in the market (Baden-Fuller Haefliger, 2013). The final building block illustrates the cost of delivering the value proposition that includes the resources required as well as major activities involved. The critical components of business model have been validated. On the other hand, the purpose of partnership is to make sure that the commodities offer the appeal to the target market. Certain business models necessitate the involvement of several stakeholders in order to make sense. In todays lecture, the process that deals with the clarification involves the major assumption that underpin business model. It is required to check every response in the building model canvas against several criteria that involves the fact that how an individual knows what he has written in each building block is correct. For example, the business model of Ryanair involves high volume passenger as compared to the business model of South American market (DaSilva Trkman, 2014). Reference List Baden-Fuller, C., Haefliger, S. (2013). Business models and technological innovation.Long range planning,46(6), 419-426. DaSilva, C. M., Trkman, P. (2014). Business model: What it is and what it is not.Long range planning,47(6), 379-389.