Business Strategy, Business Innovation And Assessment Answer

Key Topics

• INTRODUCTION
• Explaining the term 
• Analyzing opportunity and threats caused by advances in Smart Connected Product
• Business model framework
• Expanding analysis


CONCLUSION
 REFERENCES

Develop understanding of the importance and appreciation of the close links between business strategy, business innovation and business models. 

Introduction

There are several internal factors stays behind the success of any firm. Here, with the help of different factors, the only manager of an organization is able to maintain its competitive position in the market (Foss & Saebi, 2017). Thus, the given thing also helps it in the process of improving sales and profitability related condition of an organization. Among all one of such type of factor is a business model. Each company has their own business model. In this regard, this essay will give an answer to the question that why business model of are subject to the rapid disruption and displacement.

Explaining the term 

According to the viewpoint of Linder & Williander (2017) business model is the type of mechanism with the help of which companies generates profit. However, França and et.al. (2017) have depicted that business model is basically a systematic plan which guides firm towards the strategic and tactical goals. In this context, it can be said that it is the approach that assists firms in the task of attaining its tactical objectives in an effectual manner.
Besides this, as per the viewpoint of Baldassarre and et.al. (2017) disruption is basically the problem or disturbance which tends to affect the whole activity of the enterprises. There are numbers of disruption occurs in the smooth going activity of firm and these have a significant impact on the type of business models which are being used by the enterprises.

Analyzing opportunity and threats caused by advances in Smart Connected Product

Smart Connected Products are the smart technologies which make the work of firm easier.  Here, it has different new technologies that tend to provide assistance to the business model of an organization. In this regard, opportunity and threats caused by advances Smart Connected Product to the business model of Domino’s Pizza, Australia is examined. 
Herein, on the basis of analysis, it is examined that famous fast food chain named as Domino’s Pizza follows franchise business model in which company is expanding its operation by giving rights to conduct its business to other individuals. In this context, it can be said that franchising is being regarded as one of the most effective models as it gives the opportunity to firms with regard to establish their business in the market which is completely unknown to them (Yang, Evans & Rana, 2017). Here, all tasks related to business location and infrastructure development is done by franchisee only. It also reduces the firm’s need to gather information about the specific market. Thus, it is through this way the only respective model is assisting Domino’s Pizza in saving lots of money. However, money which is saved by the company through this activity can be used by it for some other purposes. 
The developments which are happening in the Smart Connected Product will tend to provide different opportunities and threats to Domino’s Pizza. On the basis of analysis, it is examined that the company is taking its pizza ordering process to very new level. Herein, the cited company has connected its mobile application to the smart home devices of customers. For the given purpose, Domino’s has signed a partnership agreement with IFTTT. This partnership will bring evolution to the pizza tracking system. Here, customers can program their smart home devices for the food delivery. For example, buyer’s porch light will on when the food is available at doorstep. In a similar way, the system can also deactivate sprinkler with an aim to avoid driver getting wet (Li, Luo & Wu, 2017). 
Thus, it can be said that advances in Smart Connected product will provide several opportunities to Domino’s Pizza. By using this, an organization can build its unique image in the market. This is because it is a very concept and each and every customer of the company would like to try it. Thus, the given thing will provide the opportunity of the cited firm with regard to developing a very new base of the buyers. This will provide benefit to the company in the form of increase profit and sale. Moreover, Dominos also has an opportunity to enhance or maintain the satisfaction level of its buyers. The customer of the company feels highly satisfies if they see that the firm is thinking so much about them. Thus, the given thing will motivate them to become loyal to the company. As a result of it, they continuously use the products and services offered by a corporation in an effectual manner. 
However, advances in Smart Connected Product come with different type of threats also. One of a threat for Domino’s Pizza could be customer’s lack of understanding of devices. There are chances that buyers of the cited company did not understand the new concept of the firm. In this situation, all the money which is being spent by the corporation in new technology will turn into wastage. In addition to this, another threat is competitors of company copy the same technique (Linder & Williander, 2017). In the given circumstances, the customers of the company will be divided. The impact of the same will have on the sales and profits of the corporation. It is by complying with given type of activity only firm can add value in its operation. The given thing will bring changes in the business model of the firm also. Thus, it is correct to say that at present business model is the subject of rapid displacement. 

Business model framework

The business model framework of the business model framework by Osterwalder and Pigneur is examined and it is depicted in below: