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Weighting: 50% Length: 1500 words Assessment Overview This assessment must be completed by students individually. The assessment is designed for students to develop understanding of the importance and...

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Weighting: 50%
Length: 1500 words
Assessment Overview
This assessment must be completed by students individually. The assessment is designed for students to develop understanding of the importance and appreciation of the close links between business strategy, business innovation and business models. The business model concept is central to this understanding. It has evolved from a term that refers to ‘the logic of the firm or the way of doing business’ to a set of conceptual analytical and creative tools that can be used to help imagine, conceptualise, deliver and capture business value. The assessment is about assessing business models using different perspectives. The assessment involves writing a 1500 word essay and explaining the essay’s main arguments via a creative video. The creative video should be of roughly three minutes duration.
Please note that academic misconduct and late submission penalties will apply to this assessment as per the university policies.
Assessment Guidance
Assessment 1 student guide (link).
Abena Nova case study, an example of a health care smart-connected-product (link). 
Assessment 1 video examples (link).
Further assessment guidance will be provided here. As we progress in the unit, the unit coordinator will add advice here in response to student questions and discussions. You are encouraged to ask questions and contribute to discussions in class and to create posts on the website discussion forum.
Feel free to discuss your assessment ideas in the unit discussion forum, before you complete and submit the assessment.
Assessment Tasks
This section describes the assessment tasks. There are two components, a business essay and a creative video. You are required to write an essay and then explain the assay’s main arguments in a short creative video.
Business essay, 30% of the total marks for the unit
Business models are less durable than they used to be as technological advances in areas such as artificial intelligence, computing power, communication networks and battery technologies offers both threats and opportunities for existing businesses and their business models.
"Let's face it: business models are less durable than they used to be. The basic rules of the game for creating and capturing economic value were once fixed in place for years, even decades, as companies tried to execute the same business models better than their competitors did. But now, business models are subject to rapid displacement, disruption, and, in extreme cases, outright destruction” (de Jong & van Dijk, 2015).
Specifically, your essay is required to:
1.     Clearly and succinctly define the terms ‘business model’ and ‘disruption’ based on a short literature review.
2.     Analyse the opportunities and threats caused by the advances in smart-connected-products (Porter & Heppelmann, 2014, 2015) to the existing business model for one (1) of the following businesses:
        a.     Cochlear, Australia (link). Cochlear implant manufacture and service.
        b.     Commonwealth Bank, Australia (link). Banking and insurance.
        c.     Domino’s Pizza, Australia (link). Fast food restaurant.
        d.     LEGO, Denmark (link). Toy manufacturer.
        e.     Procter & Gamble, United States (link). Manufacture of disposable nappies and many other products.
        f.      Volvo Group, Sweden (link). Manufacture and service of trucks and construction equipment.
        g.     Strava, United States (link). Social fitness application.
        h.     A business impacted by the advances of smart-connected-products, that you are or have been employed at and therefore knows well. It is important that no confidential business information is included in the essay.
        i.      If you suggest an organisation other than the ones above, you will need approval from the assigned lecturer.
3.     Use the business model framework by Osterwalder and Pigneur (2010) to illustrate your initial findings. 
4.     Expand your analysis to address only two (2) of the following business model perspectives: business models as value proposition, business models as a set of capabilities and resources, business models as a system of processes, business models as a profit formula (Ches
ough 2010; Johnson, Christensen, & Kagermann, 2008).
5.     Conclude by
iefly discussing the significance of your findings to the business and its business model and the future of the business.
Assessment references
You should include at least 5 references and no more than 20 references in your essay. All sources must be highly credible and fully referenced using the APA referencing style.
Ches
ough, H XXXXXXXXXXBusiness Model Innovation: Opportunities and Ba
iers. Long Range Planning, 43(2–3), XXXXXXXXXX.
de Jong, M., & van Dijk, M. (2015). Disrupting beliefs: A new approach to business-model innovation. McKinsey Quarterly.
Johnson, M. W., Christensen, C. M., & Kagermann, H XXXXXXXXXXReinventing your business model. Harvard Business Review, 86(12), 50. Scroll down to find the article.
Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. New Jersey: Wiley (the unit textbook). The textbook is available from the CQUniversity li
ary for free.
Porter, M. E., & Heppelmann, J. E XXXXXXXXXXHow smart, connected products are transforming competition. Harvard Business Review, 92(11), 64-88.
Porter, M. E., & Heppelmann, J. E XXXXXXXXXXHow smart, connected products are transforming companies. Harvard Business Review, 93(10), 96-16.
Zott, C., Amit, R., & Massa, L XXXXXXXXXXThe business model: Recent developments and future research. Journal of Management : JOM, 37(4), XXXXXXXXXX.
Creative video, 20% of the total marks for the unit
The creative video must focus on your essay's findings. The objective of this video is to develop your presentation skills and ability to explain difficult theoretical concepts to laypeople. To successfully complete this part of the assessment, you are required to produce a short video that summarises the key arguments of your essay. However, your video should not just be a ve
atim repeat of your essay. It should be a creative and unique descriptive explanation of the essay findings and supporting arguments. Make sure your explanations are concise and easy to understand by people with little business training. Students are rewarded for using the video medium effectively and creatively.
Assessment Criteria
Essay marking criteria (30%)
1. Demonstrates an appreciation of business model theory in the literature. 3%
2. Identifies and concisely outlines the opportunities and threats caused by the advances of smart connected- products to the existing business model. 3%
3. Applies the Osterwalder & Pigneur XXXXXXXXXXbusiness model framework to illustrate findings. 6%
4. Critically applies the business model perspectives: value proposition, capabilities and resources, system of processes and profit formula to the analysis. 6%
5. Critically discusses the significance of the business model findings to the future of the business. 6%
6. Introduction, conclusion, coherence of arguments and theoretical integration. 3%
7. Written communication, credible sources and referencing standards skills. 3%
Creative video marking criteria (20%)
8. Effectively uses text, audio, images and other appropriate methods of communication via video to explain the arguments to a laypeople audience. 4%
9. Explains the reasons for and significance of disruption by applying business model knowledge to a recent disruption from real life. 8%
10. Tone of the video is consistent, for instance, uses humour effectively and is professional in tone throughout. 2%
11. Quality of the video production. 2%
12. Creativity. 4%
Link to the assessment 1 marking ru
ic.
Assessment Submission
Submit your essay with a cover sheet showing: unit number and name, assessment number, business name, your name and student number.
The assessment submission must be made online on the unit web site in Moodle.
Accepted formats are Word (.doc or .docx) and MP4 video (.mp4). MP4 formats up to 100MB can be uploaded to Moodle, but larger files must be uploaded to YouTube and a YouTube link must be included in the submitted Word document.

Assessment 1 - Student guide
Hi all,
I will be adding further assessment 2 advice here based on your questions. Consider assessment 2 and create an online post if you have questions or want to discuss something. The more discussion, the better the advice. As we get closer to the submission due date I will be updating the advice on this page.
 What is referencing? How do I reference? Please have a look at the below resources from the li
ary and the Academic Learning Centre (ALC): https:
www.cqu.edu.au/student-life/services-and-facilities
eferencing ; https:
www.cqu.edu.au/student-life/services-and-facilities/academic-learning-centre
 What is an essay and what does it look like? Please make use of the ALC for support on how to prepare for and write an essay: https:
www.cqu.edu.au/student-life/services-and-facilities/academic-learning-centre
 How can I access the reading material? Here is a link to the li
ary: https:
www.cqu.edu.au/student-life/li
ary - please get acquainted with the services and resources the li
ary has to offer; you will need this for ANY unit, not just this one. There is a search box on this site as well, which you can use to search for reading material. The following link takes you to the services website of CQU li
ary: http:
libguides.li
ary.cqu.edu.au/li
ary-services - there are lots of useful guides and FAQs that help you look for literature for ANY unit you are studying. Some website articles are hyperlinked for your convenience but it may depend on where you are if you can access them immediately (please note that academic articles are provided thru CQU li
ary which is subscribed to academic journals - therefore, you will not have to pay to access these). If you are on campus, you should be directed to the co
ect resource directly by using the hyperlink. If you are off campus, you may need to log on with your student ID and password, but some journals may require alternative passwords. Please have a look at the li
ary guidelines to accessing journals with passwords: http:
libanswers.li
ary.cqu.edu.au/faq/26771
 Can we have sub-headings or a detailed structure to use for our essay? No, an essay does not have sub-headings as it requires you to present a number of main ideas or arguments in a logical manner to address the task (don't forget introduction and conclusion!).
 How do we submit our essay? Please submit it electronically via the Moodle site. Prefe
ed format is MS Word.
 How do we submit our video? You can either submit the file (e.g. MP4) via Moodle, the same way that you submit a written document, or you can upload it to YouTube and then submit a (Word) document with the web link via Moodle. The YouTube option is the only option if your video file is really large. Details of how to upload a video to YouTube can be found here. Please remember that uploading files can take a little time, so don't try to do this last minute.
 What privacy settings do I use for my YouTube video? Do NOT set your video to 'private' - if you do this, the marker will not be able to view your video and you may end up with a mark of zero. Please
Answered Same Day Apr 17, 2020

Solution

Soumi answered on Apr 20 2020
136 Votes
Running head: BUSINESS MODEL
(
BUSINESS MODEL
) (
3
)
VOLVO GROUP AND BUSINESS MODEL
Name of the Student:
Name of the University:
Executive Summary
Volvo group is one of the leading manufacturers of transportation system worldwide. To discuss the business model Volvo group is chosen for the particular study. The study has defined the term ‘business model and disruption as literature review. Advances in smart, connected products have impact on opportunities and threats that are discussed in the study. The study shed light on the value proposition, profit formula of the company. The significance of the findings has been analysed in the study and also the future of the business is discussed. Volvo group has unique business model that helped it to become the leading manufacturer of transportation. The organisation manufactures products like trucks, construction equipment, marine and industrial engines and buses.
Table of Contents
Introduction    3
Literature review    3
Impact of advances in Smart-connected products    3
Smart-connected products and its opportunities    4
Threats caused by advances in Smart, connected products    4
Business model    4
Analysis of value proposition    6
Analysis of profit formula    6
Significance of the findings    6
Future of the business    7
Conclusion    7
References    8
Introduction
Business model is the plan that helps in successful business operation as well as identifies the sources of revenue. Business model should be customer based and helps to provide the details of financing. For the particular study, Volvo group is chosen to discuss the business model. The study has defined the term ‘business model and disruption as literature review. The impact of advances in smart-connected products and the opportunities as well as threats of this advancement are discussed in the study. Value proposition, profit formula of the company is discussed. The study has analysed the significance of the findings and also discusses about the future of the business.
Literature review
Volvo group is the leading manufacturer of transportation system in the world. According to DaSilva and Trkman (2014), business model is a rational that describes economic, cultural, social and other context of an organisation. Business strategy is a part of the process of business model. On the other hand, Martins, Rindova and Greenbaum (2015) opined that business model can be used for the
oader range of formal and informal descriptions that represent the core aspects of the business. This can include purpose, target customers, business process, infrastructure, sourcing strategy, organisational culture, organisational structure, policies, operation processes and trading practices. Volvo group has unique business model that helps to identify the culture of the business. Saebi and Foss (2015) defined business model as the abstract representation of a business that can help an organisation in their value proposition, value network, set of capabilities and resources, business model system and profit formula
Impact of advances in Smart-connected products
Smart, connected products are transforming the competition and help the organisations to develop their profitability. It has strong impact on the business of the organisation. In view of De Jong and van Dijk (2015), the information technology revolutionizes products. In this context, Johnson, Christensen and Kagermann (2008) mentioned that the smart, connected products offer various exponential expanding opportunities to the organisation for new functionality. This can help them to increase product utilisation and reduce transcend traditional product boundaries. The changing nature of the products can disrupt the value change and force the companies to rethink what they do internally. Moreover Volvo may need to retool everything that they do internally.
Smart-connected products and its opportunities
Smart, connected products provide various opportunities to Volvo group so that they can develop their service of trucks and construction equipment. Smart, connected products are trying to transform the manufacturing companies. Volvo needs to utilise the advancement of...
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