Business Management - Economic Value - Essay Writing Assessment Answer

Business Management Assignment

Assignment Task

Transcript

Businesses need to constantly innovate with respect to the changing times that they experience. The presence of one technology is disrupted by another technology which is more modern and meets the demand of the customers. If industries do not adapt to the new technology it will not be able to retain their market share and will be overtaken by other companies.

According to the resource based view, it is seen that the activities of a business are linked right from the procurement research and development, operations, marketing and sales. Revenue is essential for the company to keep going and is one of the main areas where business concentrate is to employ strategy that increases the revenue company. The topic that we deal with in hand today is about disruption. Disruption can be explained as a business model problem and it is mainly the creation of a new market and added value due to which an existing market eventually disrupts by displacing market firms which have already been established in the industry. Hence disruption leads to the displacement of business models since companies need to adapt to the change that comes with technological advancement.

An industry which has been disrupted in today time is the educational sector since the way teaching method have evolved as replaced the traditional classroom method teaching. In the past decades, the role of the education has remained more or less stagnates where the professor would teach hand out assignment and conduct a test to ensure that the student has understood everything. However with the changes in the environment and mainly through the advancement of technology, the education structures have changed and even now the education sector is ripe when it to the transformation of the teaching methods

Companies like Ted ED, Einztein and Vocabu have come up with educational products that allows teacher to reach their student through various medium and allows personalized interest as opposed to group teachings. It seen that in some students are faster learners while the rest are slow learners and by these methods one can learn at their own pace

Also world renowned educators can reach a larger number of students through virtual classrooms and online teaching which allow students to access their lectures in a worldwide manner.

The reason to one of the reasons to adopt a disruptive business model is to achieve a lower cost advantage that allows company to experiment in the industry. Hence with the innovative educational methods it will allow organizations to lower their costs and at the same time ensure that they have better quality. Also digital technology provides individualized which can be tailored according to the need of the student that helps them to grow in a speed which is comfortable with them.Hence companies especially in the educational industry should ensure that they reap maximum benefits from disruptive business model and achieve success for their organizations.