The act authorizes the Secretary of Business, Transportation and Housing to, in that capacity, carry out various powers and duties related to encouraging international trade and investment in the state, including, among others, developing an international trade and investment policy and strategy for the state, and convening or joining a statewide business partnership for international trade and investment. Existing law authorizes the Secretary of Business, Transportation and Housing to accept private donations for the purposes of promoting international trade and investment, and requires those moneys to be deposited in the Economic Development and Trade Promotion Account, a continuously appropriated fund in the Special Deposit Fund in the State Treasury. Existing law authorizes the secretary to use money in that account for purposes of supporting international trade and investment offices, and for expenses incurred to promote international trade and investment that will directly benefit California businesses.
One of the confusing things about the business model concept is that there are a wide variety of models of business models, and it seems as though everyone that talks about them makes up a new one. This can be frustrating if you are trying to figure out how to use the concept.
At their core, all business models address this questions: In a special issue of the journal Long Range PlanningCharles Baden-Fuller and Mary Morgan say that business models can serve three different purposes.
They can describe different kinds and types of businesses. This is critical if we are trying to study them analytically.
They can be short-hand descriptions of how firms operate — the primary value here is that you can use the business model to ensure that you have strategic fit across activities. Or they can be role models — you can use them to describe how you want your organisation to function.
More recently, Steve Blank has added another use — he says that business models are hypotheses about how your organisation might be able to create value for customers see my discussion of this here.
Value Networks from Verna Allee: Verna was working with some of the basic concepts of business models in the 90s.
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One of the tools that she developed is Value Network Mapping: You need to clearly articulate how you create value, and for whom. You can also create and exchange intangible value. Here is what his business model looks like: This is where the idea of business model innovation really started to gain traction.
They talk about the importance of having an integrated strategy, which looks like this: All of the elements need to be consistent with and support the others.
Second, this model illustrates how closely linked strategy and business models are. His business model looks like this: Leadership Style, Relationship Style and Values. Think about that in relation to the point above about integration.
Furthermore, this business model innovation could be a source of competitive advantage. This is a very powerful point. He developed a tool called the Business Model Canvas.
He has subsequently published a book called Business Model Generation, which is all over the place now, along with a number of other analytical tools. Here is his version, as modified by Steve Blank: Osterwalder has done a great job of promoting the idea, and making it genuinely useful.
This version of business models proves that it is a practical tool that you can use to figure out where your organisation should be heading.
There is a new model of business models in the paper by David Teece, but it is more of a model to use in description if you are trying to study these academically. The second point in the special issue is this: It also raises the point that every organisation has a business model, whether you have consciously thought about it or not.Hi!
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