Video Transcript of Business Model

Question: Discuss about the Video Transcript of Business Model. Answer: Video Transcript Good morning audiences, this is a video about the nature of the business models used by different companies in order to carry out their business. The video will describe about the concept business model and the views of the three scholars Kodama, Amit and Zott while defining the business models in the various business perspectives. The business models described over here contains various building blocks like channels, customer relationship, customer segments, key resources, key activities and key partners. The video will describe about the views of the scholars regarding the procedures adopted by various companies by using these models. Now, it will elaborate the concept of a business model. A business model is defined as systematic activities that depend on one another while surpassing the firm. However, a business model is known as a profit model. According to Kodama, innovation and integration is the core part of the business model. New knowledge creation is related to the internal knowledge, external knowledge which is a part of the knowledge integration model. For instance, Google is a company that runs on innovation and its business model runs on the knowledge integration model. Google market system consists of search engine and paid advertisement system for earning profit for the company. The search engine of Google is an innovation of Google that is a free service to the customers. On the other hand, the advertisement is a paid service of the company. As per Zott, business model used by Toyota is a perfect example of a sustainable business model. Business model of Toyota consists of partnership that brings a substantial profit to the business as well as to the business sustainability approaches. It increases the viability of the business with the other environmental factors outside the firm. It can be concluded that the real market is referred to as the market system that has an impact on the companys profitability.