Business Models Evolution of Business Article

Total Length: 2175 words ( 7 double-spaced pages)

Total Sources: 12

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0 technologies ((Wirtz, Schilke, Ullrich, 2010)

Heavily reliant on a broad range of integration points throughout an enterprise, creating a real-time information network using collaboration technologies including Facebook-like applications (Salesforce.com Chatter)

Comparable in design objectives to the structure of the knowedlge-sharing ecosystem; yet this business model is based on real-time social media data and collaboration

Ideal for large, knowledge-based businesses that are growing rapidly; perfect fit for new business ventures based on consulting and subject matter expertise

Conclusion

The progression of business models has been from those initially focused on the internal needs of a company to the expectations, preferences, wants and needs of customers. Compounding this transition has been the need for providing customers with highly customized products and experiences (Pynnonen, Hallikas, Ritala, 2012). These factors have been taken into account in the analysis of the core business models that have dominated the global economic landscape from 1900 to today. The business model of today's key features are defined earlier in this analysis, in addition to showing how agility and responsiveness have won out over rigidity and cost reductions over time. The need for creating business models that stay in step with customers' expectations and needs have never been greater as businesses face greater uncertainty and risk in their core markets than ever before.

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