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2013 | Buch

Introduction: The Business Model and Transaction Structure Kapitel lesen Erstes Kapitel lesen

Approaching Business Models from an Economic Perspective

verfasst von: Wei Wei, Wuxiang Zhu, Guiping Lin

Verlag: Springer Berlin Heidelberg

Buchreihe : SpringerBriefs in Business

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

Approaching Business Models from an Economic Perspective examines business model logic and explores the model from different aspects including definition, design, functionality, elements, and self-sustaining logic. It explains the essence and core elements of a business model and unlocks its mysteries, helping transform business model practices into an expedient set of theories that in turn facilitate application in real scenarios. The book explores the logic behind the six major elements and enables entrepreneurs to study and implement business model theory and make decisions confidently based on a compelling logic. Moreover, it demonstrates through an array of convincing examples that a transaction structure and its six elements follow the principles of increasing transaction value, reducing transaction costs, and mitigating transaction risks.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Introduction: The Business Model and Transaction Structure
Abstract
It has been five years since we published our first article, Constructing a Business Model, about the system of business model concepts in the business model column of CFZ (Chuangfuzhi, or Moneymakers). Since then we have unlocked more secrets in this area that are rich in scope and strikingly varied.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 2. Business Models and Transaction Value, Costs and Risks
Abstract
In recent years, business models have emerged as a focal point for enterprise development; for example, the Growth Enterprise Market (GEM) has proposed a series of listing criteria for high-tech companies that includes a new business model. Venture capitalists evaluate a company in terms of its market space, business model, and management. In this context, business models play a leading role. According to research by the American Management Association, enterprises across the globe allocate less than 10 % of their total budgets to develop new business models. In contrast, 60 % of the successful innovations of American enterprises are business model innovations.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 3. The Business Model with Minimal Transaction Costs
Abstract
Transactions are handled in two ways—through the market or by ownership transfer—and both incur a transaction cost. Market-based transactions initially have an information gap as a company ostensibly knows more about its own products, while customers have a clearer idea of their own preferences. The resulting negotiations to close this information gap may be time- and energy-consuming for both sides. After the transaction, long-term contracts and lockup risks occur. Long-term contract risks may lead to an independent advantage scenario when market conditions change, while the lockup risk can result in a price squeeze on the investing party. Additionally, scattered customers may suffer unfair prices or lower-than-expected quality due to a monopoly, which incurs enormous transaction cost for customers.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 4. Business Model Positioning and Strategic Positioning
Abstract
By the end of 2011 Homeinns will have opened 1,100 hotels—the most in its sector in the world. Established in 2002, Homeinns has rapidly increased in prominence due to its successful business approach. In early 2005, former B&Q China VP Sun Jian replaced co-founder Ji Qi as company CEO. This was a risky move given Sun’s lack of experience in the sector, but ultimately a wise decision—the group has continued to grow rapidly and claimed a dominant lead in the industry under Sun’s leadership.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 5. Profit Model One: Fixed-Income, Remaining-Profit and Profit-Sharing
Abstract
Why have Gome and Suning chosen fixed rents plus commission as their profit mode? Why have Best Buy and Wal-Mart implemented the price margin model? Why has Best Buy, the world’s leading home appliance retailer, failed in China? Why did ITAT’s fortunes collapse so quickly? Answers to these questions can be found in contribution categories and profit modes, or more precisely, fixed and variable contributions, fixed incomes, price margins, commissions, and their various combinations.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 6. Profit Model Two: Admission, Toll, Parking, Fuel and Sharing Fees
Abstract
As most drivers know or are unlucky enough to find out, maintaining a car is far from cheap in China. Costs such as insurance, routine visit to mechanics, and incidental expenses such as repairs, fuel, tolls, and parking can quickly add up to over $1,500 a year.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 7. Profit Model Three: Combined Pricing
Abstract
A profit model comprises profit source and pricing mode. Each one of the five modes can be adopted for a group of consumers and a product. In many cases, a company sells multiple products to several groups of customers. IBM may sell servers, software and consulting services to an SME (Small and medium enterprises), and a periodical might be distributed to libraries, companies and individuals. The way in which different pricing models maximally yield profits tests the wisdom of a company, and effectively combining models forms a key component of economic and managerial logic.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 8. Profit Sources
Abstract
Profit models classify profit sources based on stakeholders and corresponding pricing models. Profit sources can be viewed from three main angles: Which resources and capabilities yield profits? Which products, services and markets deliver these profits? Which stakeholders incur costs and generate profits for a company?
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 9. Creating Value Through Key Resources and Capabilities
Abstract
One of my students—a budget hotel manager—was asked to propose solutions for making another similar hotel profitable. With 120 rooms and over 80 staff, the current CEO—who previously managed a five star hotel—complained that a labor shortage combined with the inefficiency of the existing staff was causing the hotel to make a loss. The student told me that if he were the CEO, the first act he would do is to lay off 20 people. He based this on the observation that the manager with the five-star-hotel experience lacks the key resources and capabilities needed to effectively run a budget hotel, which explained why the business was failing.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 10. Cash Flow Structure and Endogenous Finance
Abstract
Cash flow structures refer to the time sequences of cash inflows and outflows. They can serve as the initial stage of business model design and are influenced by transaction value, costs and risks in the same way that positioning, business systems, profit models, and key resources and capabilities are influenced.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 11. Platform-Based Business Models
Abstract
High-profile companies such as Facebook tend to invest heavily in promoting their business operations. However, given that Facebook was in deficit in 2007, why did Bill Gates and Li Ka-shing invest so heavily in the website? In fact, the sizable investments of both reflected their astute awareness of the site’s potential valuation, despite its early uncertainties. Twitter is yet to have made a profit, but is valued at $3.7 billion; equally, Groupon, which was established in 2008, recently rejected a $6 billion takeover bid from Google. Why do these companies have such high valuations? The answer lies in platform-based business models that engender positive chains of reaction among users and sellers. The stakeholders, except for the central company, are interdependent and complementary. Once implemented, such business models are unrivaled.
Wei Wei, Wuxiang Zhu, Guiping Lin
Chapter 12. The Soft Integrated Business Model
Abstract
An industry value chain comprises a continuous series of activities necessary for designing, manufacturing and selling products or services. A lengthy industry value chain can be either integrated or specialized, while an integrated industry chain is either horizontal or vertical, which is frequently seen in the new energy industry.
Wei Wei, Wuxiang Zhu, Guiping Lin
Metadaten
Titel
Approaching Business Models from an Economic Perspective
verfasst von
Wei Wei
Wuxiang Zhu
Guiping Lin
Copyright-Jahr
2013
Verlag
Springer Berlin Heidelberg
Electronic ISBN
978-3-642-31023-2
Print ISBN
978-3-642-31022-5
DOI
https://doi.org/10.1007/978-3-642-31023-2

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