A New ICT based Business Model for Tourism Industry for the Maharashtra and Goa States of India

2015 ◽  
Vol 8 (1) ◽  
Author(s):  
K. B. Mahajan ◽  
A. S. Patil ◽  
R. H. Gupta ◽  
B. V. Pawar
Keyword(s):  
Business Model ◽  
Business Environment ◽  
Tourism Industry ◽  
Service Industries ◽  
Economic Sectors ◽  
Efficiency And Effectiveness ◽  
New Business ◽  
Market Needs ◽  
The One ◽  
The Cost

Tourism is the act of travel for the purpose of recreation. It is an industry of moving, housing and entertaining people. It is one of the worlds largest service industries and fastest growing economic sectors in terms of generating gross revenue as well as earning of foreign exchange. Nowadays the Internet and the developments in ICTs have revolutionized the entire tourism industry all over the world. It provides new tools and enables new distribution channels to create a new business environment. In order to increase the efficiency and effectiveness of transactions, to reduce the cost of transactions and to provide the one stop services to the customers, tourism market needs a new ICT based business model to grow tourism industry in the states of Maharashtra and Goa. In this paper we propose a new ICT based tourism business model that includes the modern tools of ICT which affects the tourism business as a whole.

A Digital Economy Model for Talent Prediction Data Analytic

2019 ◽  
Vol 2 (4) ◽  
pp. 260-266
Author(s):  
Haru Purnomo Ipung ◽  
Amin Soetomo
Keyword(s):  
Business Model ◽  
Industrial Revolution ◽  
Technology Innovation ◽  
Cost Effective ◽  
Sharing Economy ◽  
Token Economy ◽  
Economy Model ◽  
New Business ◽  
The Cost ◽  
Data Analytic

This research proposed a model to assist the design of the associated data architecture and data analytic to support talent forecast in the current accelerating changes in economy, industry and business change due to the accelerating pace of technological change. The emerging and re-emerging economy model were available, such as Industrial revolution 4.0, platform economy, sharing economy and token economy. Those were driven by new business model and technology innovation. An increase capability of technology to automate more jobs will cause a shift in talent pool and workforce. New business model emerge as the availabilityand the cost effective emerging technology, and as a result of emerging or re-emerging economic models. Both, new business model and technology innovation, create new jobs and works that have not been existed decades ago. The future workers will be faced by jobs that may not exist today. A dynamics model of inter-correlation of economy, industry, business model and talent forecast were proposed. A collection of literature review were conducted to initially validate the model.

Sustainable Competitive Advantage Through Business Model Innovation

2020 ◽  
pp. 191-213
Author(s):  
Purna Prabhakar Nandamuri ◽  
K. S. Venu Gopala Rao ◽  
Mukesh Kumar Mishra
Keyword(s):  
Business Model ◽  
Business Models ◽  
New Technologies ◽  
Business Environment ◽  
Business Model Innovation ◽  
Sustainable Competitive Advantage ◽  
Term Survival ◽  
New Business ◽  
Indian Perspective

Conventionally, businesses focus on their offerings for growth. But the increasingly unpredictable business environment is making them irrelevant in the market. So, businesses should resort to a system of dynamic management by innovating on the business models rather than a single aspect of the business. Business model innovation demands neither new technologies nor creation of new markets, but cares about delivering the existing products produced by existing technologies to the existing markets, through a unique model. Hence, defining, innovating, and evolving new business models have become the new basis of competition. A differentiated, hard-to-imitate, effective, and efficient business model is more likely to ensure higher profits and long-term survival. In this context, the present chapter attempts to furnish multiple global evidences and discuss the Indian perspective of business model innovation.

scholarly journals Understanding shared services (Article 1 of 3)

2006 ◽  
Vol 6 (1) ◽  
Author(s):  
T. N. Van der Linde ◽  
A. L. Boessenkool ◽  
C. J. Jooste
Keyword(s):  
Business Model ◽  
Cost Savings ◽  
Business Environment ◽  
Primary Objective ◽  
Successful Implementation ◽  
Shared Services ◽  
Literature Study ◽  
Efficiency And Effectiveness ◽  
Enhance Efficiency ◽  
Viable Business

Purpose: Shared services is a viable business model that can be used by organisations to reduce costs and enhance efficiency and effectiveness in the organisation. The purpose of this trilogy of articles is to introduce shared services as a business model, and how to efficiently and effectively manage a shared services business unit. The purpose of the first article in the trilogy, introduces shared services as a business model, defines what shared services is, the transformation required to successfully implement a shared services business model, as well as the benefits that can be derived from implementing a shared services business model. Methodology: A comprehensive literature study was conducted in order to: - Define and describe shared services as a business model, - Compare shared services with centralisation and de-centralisation, - Determine and describe the transformation required to successfully implement shared services. Findings: In the article, a framework is generated to help organisations understand the business concept of shared services. This work has further potential: when applied correctly, there are both tangible and intangible benefits that can be accrued above cost savings. Implications: The findings of this article are important for organisations that are in the process of implementing or have implemented shared services, as it will assist the organisation in determining if shared services is the correct business model for them to implement. Value: This article provides an understanding of shared services and the business environment required to successfully implement a shared services business model. Value created by a shared services business model is further enhanced once the organisation has embarked on the successful implementation of a shared services business model, which is the primary objective of the second article, Implementation and continuous evolution in shared services.

scholarly journals Where the Engineers Are

2005 ◽  
Vol 127 (06) ◽  
pp. 26-31
Author(s):  
Alan S. Brown
Keyword(s):  
Stainless Steel ◽  
Business Model ◽  
Low Cost ◽  
Medium Size ◽  
Two Dimensional ◽  
3D Cad ◽  
Offshore Engineering ◽  
New Business ◽  
Cad Models ◽  
The Cost

This article appreciates the powerful pull of low-cost offshore engineering services. Elkay, a privately held company, employs 3800 workers at 14 manufacturing sites. For most of its 85-year history, it has made stainless steel sinks and plumbing accessories from two-dimensional drawings. In many ways, Elkay’s case highlights the forces behind the new shift to offshore engineering. While multinationals have shuffled work among remote engineering centers for decades, small and medium-size companies are just starting to tap foreign engineering talent. Access to offshore services makes many companies more competitive. Barry-Wehmiller used its Indian center to cut the cost of customizing packaging machines. Elkay used the same engineers to build a library of 3D CAD models that let it design products faster and cheaper. The auto industry is already adapting a new business model that involves collaborating in real time across nontraditional boundaries.

The “Evils” of Traditional Cost Accounting (DRAFT)

2018 ◽  
Author(s):  
Boaz Ronen ◽  
Joseph S Pliskin ◽  
Shimeon Pass
Keyword(s):  
Decision Making ◽  
Cost Accounting ◽  
Business Environment ◽  
Service Organizations ◽  
Cost Structures ◽  
Business Opportunities ◽  
Modern Business ◽  
Decision Making Processes ◽  
The One ◽  
The Cost

Traditional cost accounting lost its relevance, and those who use it for decision-making may cause damages to their organizations. Traditional cost accounting is no longer valid because of the changes in healthcare cost structures and changes in the competitive environment. The chapter shows that the assumptions of traditional cost accounting that were valid at the beginning of the 20th century are no longer valid for analyzing costs of healthcare service organizations. Reliance on the cost of the product or the cost of the service may lead to the loss of business opportunities on the one hand and interference in the decision-making processes on the other hand. Chapter 16 will present alternatives for traditional cost accounting that are appropriate for healthcare organization in the modern business environment.

scholarly journals Entry costs and quality of business environment: a critical analysis

2010 ◽  
Vol 11 (5) ◽  
pp. 151-161
Author(s):  
Decio Zylbersztajn
Keyword(s):  
Transaction Costs ◽  
Business Environment ◽  
Entry Costs ◽  
Environment Quality ◽  
Ex Post ◽  
Start Up ◽  
New Business ◽  
Cost Measurement ◽  
The Cost

Transaction costs are the costs to protect property rights. Institutions are shaped in order to control transaction costs in society. Studies have been developed to measure transaction costs both at the macro and microeconomic levels. Entry costs, i.e., the cost to start up a new business are considered a proxy for business environment quality, being also interpreted as a proxy to transaction cost measurement. This paper presents new elements in order to amplify the potential of research in business environment, particularly business entry costs. It stresses the limitation related to two theoretical points: first, the near decomposability of one complex transaction, and second, the complementarity between ex-ante and ex-post transaction costs, both related to the methodology adopted to measure business entrance costs.

scholarly journals DYNAMIC BUSINESS MODEL BASED ON RESEARCH IN POWER ELECTRONICS INDUSTRY

2013 ◽  
Vol 4 (4) ◽  
pp. 35-44 ◽  
Author(s):  
Jari Koskinen ◽  
Josu Takala ◽  
Joseph Sebuwufu Awali
Keyword(s):  
Power Electronics ◽  
Business Model ◽  
Dynamic Capabilities ◽  
Success Factors ◽  
Business Environment ◽  
Key Success Factors ◽  
New Business ◽  
Additional Value ◽  
Operational Excellence ◽  
Entrepreneurial Strategy

Abstract The recent global economic crisis has caused an uncertain and challenging business environment and has battered managements that are running businesses all over the world. This paper focuses on new capabilities that can be used successfully in a fast changing business environment for improving firms’ efficiency. This research utilizes constructive approach including interviews and case studies. The relevant findings of the study are the elements of the key success factors: entrepreneurial strategy, R&D to market performance, dynamic operational excellence and innovativeness with links to the key actions which have led to new business model called dynamic business model (DBC). This research focuses on power electronics business industry which at the same time is a limitation. This research helps directors and managers to think more widely and make better decisions for the success of the company. This research results bring additional value of the previous studies regarding a firm’s key success factors and dynamic capabilities.

Harnessing platform-based business models to power disruptive innovation

2016 ◽  
Vol 44 (5) ◽  
pp. 6-14 ◽  
Author(s):  
Haydn Shaughnessy
Keyword(s):  
Business Model ◽  
Customer Value ◽  
Business Models ◽  
Business Environment ◽  
Disruptive Innovation ◽  
Senior Managers ◽  
Content Type ◽  
Continuous Innovation ◽  
New Business ◽  
Unique Customer

Purpose Adopting and implementing a platform-based business model is fraught with problems and complications, many of which are poorly understood even by industry insiders. As they try to sort through the best practices for operating in this new business environment, senior managers need to carefully analyze the strengths of the business model of some of most successful companies before trying to imitate them. . Design/methodology/approach For a team to execute such a strategy quickly and seamlessly it must first thoroughly understand the components of such a business model and how they interact to produce unique customer value and formidable competitive advantage Findings The platform is a new way to organize wealth-creating activity. Practical implications The author details the components of a successful platform-based business model. Originality/value Platform-based business models seek to leverage the assets of third parties and in the process extend the value of economic activity to customers in ways that engage and benefit them. Senior leaders and operations managers alike need to understand that continuous innovation of customer value and policies that attract asset-rich partners and skillful developers is essential to the growth of the network.

scholarly journals Requirements for CFO Within The Business Model

2020 ◽  
Vol 1 (14) ◽  
pp. 186-191
Author(s):  
Rosita Zvirgzdina ◽  
Helena Skadina ◽  
Alida Vane
Keyword(s):  
Business Model ◽  
Business Environment ◽  
Chief Financial Officer ◽  
Business Organization ◽  
Business Organizations ◽  
Management Capability ◽  
Market Situation ◽  
New Business ◽  
Fierce Competition

The concept “Business modeling” has become commonplace in everyday business due to the rapidly changing market situation, fierce competition and digital transformation trend that affects every business. Other player can appear unexpectedly and bring a new business model to the market, typically fueled by innovative technologies and ideas, and render everyone else obsolete. To remain successful shifting of business environment is required as well as an updated management capability not only to modernize processes, but also to select, empower and appreciate workforce. One of the key roles in any business organization plays the Chief Financial Officer (CFO) that contributes and determines the wellbeing of the business. The role has become more important because of the new technological influence and therefore is more needed by business organizations. This paper aims to formulate requirements for CFO for companies that are going to establish a new business model or to reinvent the existing one. The result of this paper forms the basis for conclusions about the role of the CFO while modelling business, contribution to the modelling success and about requirements that the CFO has to meet.

scholarly journals Marketing relations in online advertising

2021 ◽  
Vol 36 (4) ◽  
pp. 33-41
Author(s):  
Evgeniya G. Radygina ◽  
Keyword(s):  
Relationship Marketing ◽  
Mass Communication ◽  
Online Advertising ◽  
Business Environment ◽  
Dominant Factor ◽  
The Internet ◽  
Economic Sectors ◽  
Goods And Services ◽  
New Business ◽  
Online Stores

Introduction. The relevance of the research is due to the fact that the model of communication between customers and suppliers within the online space has long influenced all marketing stages in the introduction of goods and services, starting with customer awareness, attitudes towards customers, soliciting potential customers to testing new products, sales, and customer retention. The purpose of the research is to identify features of the Internet as a space of marketing relationships and formulate the principles of interaction with users. Materials and methods. The reviewed sources included contemporary periodicals: Journal of Targeting Measurement and Analysis for Marketing, Electronic Markets, Marketing, etc. The study of Internet resources was based on the authors’ own data received by analysing the portals WebCanape, WebsiteSetup, Statista, etc. Results. There are nearly half a billion new users on social media; trillions of dollars have been spent in online stores, according to the annual Global Digital 2021 report. As of October 2021, the most popular social networks in the world by the number of active users (in millions) are Facebook (2,894), YouTube (2,291), WhatsApp (2,000), Instagram (1,393), Facebook Messenger (1,300), Weixin/WeChat (1,251), TikTok (1,000), etc. The Internet as a new business environment differs from traditional economic sectors by a higher level of heterogeneity. From the standpoint of marketing, the Internet makes it possible to simultaneously bring a message to a large number of users (mass communication is ensured), on the other hand, to customise the offer for specific consumers according to their needs. Conclusion. Contemporary marketing follows the consumer, i.e. uses the online environment as a point of contact with the consumer to promote and distribute products. Relationship marketing theories are based on the need for companies to invest in relationships between themselves and consumers. Relationship marketing focuses on taking relationships between the company and the consumer from a state of engagement to that of loyalty. Each customer has a personality and his/her relationship with a particular brand becomes the dominant factor influencing his/her decision regarding purchase or service.

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