Business Model Approaches and Its Used In Understanding International Assignment

Business Model Approaches and Its Used In Understanding International Business - Assignment Example This research will begin with the statement that the developments that have been made in the global economy have brought about a profound change in the customary equilibrium between suppliers and customers. The evolution in the techniques of communication, as well as information technology and the establishment of a regime for flexible international trade, implies that customers in the contemporary business environment have a variety of choices; variegated needs of customers can find more expression and the alternatives to supply are more translucent. Having said this, it can be deduced the transformation that international business has gone through as a result of globalization. Companies have increasingly conducted international business over the last decades and have resorted to the application of several business models. Therefore, these business models have helped several research scholars researching in this field to analyze the ways in which international businesses are conduct ed. As a proposition of various business models, it is imperative for companies to be more customer-centric; particularly because of the fact that technology has evolved to a great extent allowing the lower cost provision of customer solution as well as increased access to information. These developments that have been made in this field require companies to reassess the value propositions that endeavor to present their customer with. These evaluations are largely based on the business models that have been stated by various academic scholars who have significant contributions in developing this model and making sure that these models cater to business analysis. Modern business model approaches have explained the new business environment and by doing that has amplified the requirement for companies to not only consider the ways in which customer needs can be addressed but also the means to capture value from new products and services offerings. Without a robustly developed business model, innovators will not be successful in either delivering or capturing the value from their innovations. This fact is specifically true for technology companies where the formation of revenue streams is more often than not perplexing due to the customer expectation that few basic services will be free.