Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
¶ … Dimensional Business Model
Today, there are many pieces of literature that offers advice on the best way to conduct business and to analyze its results. Among a bewildering array of mission statements, business plans, and analyses, it is the duty of the business owner to make a choice that would best suit his or her business. For Reader's Digest Inc., for example, one might apply several business models to determine the best one. The Abell model is an example of these that might provide significant insight about how Reader's Digest can move its business to a more modern, digital age.
The Abell model is three-dimensional in nature, so called because it answers three strategic questions (MOOC Modules Entrepreneurship, 2014):
Who is the target customer group?
What function do we provide for the customer?
How do we provide for that function?
These questions then imply three dimensions; the market group dimension (who is being served), the problem solving dimension (the needs being provided), and the technology dimension (how the needs are being provided). By answering these questions, the model defines the business of the company, while also defining and identifying areas in which growth and diversification can be achieved. This growth and...
The three dimensions of this business model therefore provides areas of potential growth, change, and market response without changing the core of the business.
In some cases, however, it is also possible that the diversification has not sufficiently addressed the rapid changes in information technology today. This is particularly true in the case of traditionally printed publications such as Reader's Digest and any number of other printed magazines and newspapers in the world. For some of these publications, technology has simply developed too rapidly and the creativity of the company has lagged behind. This does not mean, however, that there is no salvation. A company like Reader's Digest, for example, can use the three-dimensional business model created by Abell to find new and innovative ways not only for its continued survival, but also for its exponential growth.
According to Vault.com (2014), the Reader's digest I a general interest magazine that has some 50 editions, has been translated into 20 languages, and operates some 60 branded websites. Nevertheless, the publication has suffered, along with many others of its kind, from…
References
MOOC Modules Entrepreneurship. (2014). Abell Analysis. Retrieved from: https://sites.google.com/site/moocmodulesnils/marketing/abell-analysis
Vault.com (2014). The Reader's Digest Association Inc. Retrieved from: http://www.vault.com/company-profiles/media-entertainment/the-readers-digest-association,-inc/company-overview.aspx
[2: www.med.govt.nz/business/business.../structure-and-dynamics-2011.... ] The primary research of the Auckland market presents the following sectors for consideration for the new venture: The demographics in the target market include: college going and married women with children who either are working mothers or stay-at-home mothers; this makes the age group anywhere between 25 to 55; the overall annual income of the household is more than AUS $100,000; the property owned by the target individual
Business Processes The administration and the information system at Google rely heavily on the use of business process management. Business process management proves an effective tool in the organization owing to the variation of the knowledge, skills, and expertise of the employees. Significant evidence reveals that process management improves the performance of the company by enhancing its management of operations, customer satisfaction, reduction in costs of operating organizational activities, and ensuring
Dimensional Fund Advisors Analysis Philosophy of DFA Dimensional Fund Advisors (DFA) was an investment firm based in Santa Monica, California that was dedicated to the principle that the stock market was "efficient," therefore implying that while over any given period some investors by luck would outperform the market and others would underperform, no one had the ability to consistently pick stocks that would beat the market (Cohen 2002, pp.1). In addition to
Uses of visualization in business analytics include market segmentation analysis and factor analysis to define new audience segments based on psychographics. Visualization is often also used for pricing analysis to determine how elasticity can vary by product and area being sold into. 6. What are the steps involved in effective decision making and how can business intelligence assist in helping executive and managers make better strategic and operational decisions? Effective decision
Abell's Three-Dimensional Business-Definition Model Abell's three-dimensional business model consists of three variables -- customer needs, customer groups and distinctive competencies. What the model asks the practitioner to consider is who the company is serving, what are their needs, and whether or not the company's competencies are aligned with the needs of those customer groups (Martin, 2015). One of the issues that comes up is the recognition that if there are different
Business Drivers Multidimensional scaling and factor analysis are a couple of different statistical techniques that can be used to understand the drivers of a business. MDS is a technique that renders multiple data points in a relational manner -- data points that end up closer to one another are expressed visually as such, while those that are fairly far from each other in the key variable are expressed as being far.