As the industrial requirements change at a rapid pace due to the drastic evolution of technology, the necessity of quickly investigating potential system alternatives towards a more efficient manuf...

https://www.tandfonline.com/doi/pdf/10.1080/00207543.2019.1636321

Simulation in the design and operation of manufacturing systems: state of the art and new trends

Simulation in Manufacturing: Review and Challenges

In the era of globalisation and dynamic market, firms look for competitive advantage and survival using different sources and resources. Prior studies have indicated that Business Model Innovation (BMI) is a core driver for firm’s survival and superior performance especially in growing industries. However, the role of BMI has been discussed theoretically and exploratory while empirical studies are still lacking. Hence, this study examines the importance of BMI in SME performance and the mediating role of competitive advantage. Data were collected through structured questionnaires using a sample size of 303 manufacturing SMEs operating in the emerging market of Pakistan. Hypotheses were tested through Structural Equation Modelling (SEM) using AMOS.21. The results indicate that BMI has a significant positive impact on competitive advantage and SME performance. Competitive advantage partially mediates the relationship between BMI and SME performance. Firms are required to create an effective business model t...

BUSINESS MODEL INNOVATION AND SMEs PERFORMANCE — DOES COMPETITIVE ADVANTAGE MEDIATE?

AHP-express: A simplified version of the analytical hierarchy process method

Purpose In a move characterized by ambiguity, Facebook changed its name to Meta in October 2021, announcing a new era of social interaction, enabled by the metaverse technology that appears poised to become the future center of gravity for online social interactions. At first glance, the communicated change signals a radically new business model (BM) based on an unprecedented configuration of the three following components: value creation, value proposition and value capture. The purpose of this paper is to analyze Facebook’s announced changes in its BM to clarify whether the change is as radical as communicated or rather represents an incremental transformation of the current BM.Design/methodology/approach This investigation adopted an in-depth case study research method. The process included using a structured approach to collect 153 data points, including academic studies and publicly available information, followed by qualitative content analysis.Findings The results of our analysis of Facebook’s entrepreneurial journey indicate that the communicated strategic refocusing does not correspond to a radical BM innovation pattern. Even though Facebook’s BM might evolve into the innovation phase, as the current changes appear very futuristic, the authors estimate that the core elements of the BM will change incrementally. The investigation indicates that the underlying logic of the straightforward communicative efforts primarily serves two purposes: to improve the external perception of the company and to disseminate an internal change signal within the organization.Originality/value This paper is the first study that takes an entrepreneurship and BM perspective in analyzing Facebook’s approach in rebranding to Meta and refocusing its strategy on building the metaverse. The academic and practical relevance, as well as the potential future impact on business and society, makes the investigation of this case an intriguing prospect. Additionally, the study illuminates the difference between the communicated vision and the real impact on the business, suggesting critical questions about future large-scale rebranding efforts and their effects.

/pdf/facebook-and-the-creation-of-the-metaverse-radical-business-1l7bzd60.pdf

Facebook and the creation of the metaverse: radical business model innovation or incremental transformation?

The purpose of this paper is to propose a theoretical model of business model innovation based on evidences from the past literature. The paper established a link between business model innovation (BMI) strategic flexibility, competitive advantage and firm competence.,The study was approached from a theoretical perspective using previous literature on BMI from 2000 to 2017, as per the recommendations of Tranfield et al. (2003). A total of 104 conceptual and empirical articles on BMI research spanning from 2000 to 2017 were analyzed based on different classification schemes.,The study proposed a theoretical model of BMI and discussed how the various internal factors, such as organizational culture, organizational structure, organizational inertia, leadership and technology drive BMI. The study highlighted how BMI gives companies sustainable competitive advantage. The study also highlighted that the BMI is an important predictor of firm performance and strategic flexibility. Further, the study found that the firm size and firm inexperience mediate the influence of BMI on firm competence.,The study highlights how BMI can be a source of sustainable competitive advantage and enhance the firm competitiveness and strategic flexibility of a firm.,This study is the first of its kind which has developed a conceptual model on the various internal factors and consequences of BMI. The study highlighted how BMI is an important predictor of firm performance, competitive advantage and strategic flexibility.

Internal factors & consequences of business model innovation

IntroductionMichael Porter, a relatively unknown face at Harvard Business School during 1985, published a book, Competitive Advantage The book highlighted that companies have to optimize their value chain in order to consistently outperform their rivals Porter highlighted that the firm can have competitive advantage either by focusing on low cost or the differentiation strategy The book became an instant success in academics and in industry and that is from where Michael Porter became The Michael Porter Over the years, the basic building blocks of business model have changed and Porter's work has been put to question Rita Gunther McGrath in her book, The End of Competitive Advantage has contended that sustainable competitive advantage in today's turbulent business environment is no longer possible and has in fact advised firms to seek out transient advantage Further, many other researchers have criticized Porter's idea of cost and differentiation as a competitive advantage because first, it is very difficult for a firm to calculate its own and competitors' cost of operations, second, new products and services are easily imitated Further, research has shown that value for money has become a preferred strategy for businesses success, and according to Porter it is being stuck in the middle of the road and an absolute guarantee of failureLooking at today's business scenario, neither view holds true and none represents today's fast changing business environment Companies like Uber, Airbnb and Xiaomi have been able to dominate their respective industries because of their unique business models According to Osterwalder and Pignuer (2010), business model describes the rationale of how an organization creates, delivers and captures value These companies have totally disrupted their respective industries by changing the basic building blocks of their business models These companies, beyond any doubt, have been able to dominate and in some way monopolize their industries Studying these companies little closely, it is obvious that the source of competitive advantage has changed They have no revolutionary products and services but unique business models Business model innovation has helped these companies to deliver more sales, higher profit margins and greater cash flows than their competitors These companies have no defined value chains and have in fact no fixed costs in terms of plants and machineryEconomist Intelligence Unit (2012) surveyed more than 4,000 senior executives worldwide on the subject of innovation The findings highlighted that executives do not prefer new products and services as source of future competitive advantage but new business models A similar type of study by IBM (2006) highlighted that due to intensive global pressures, the focus of top executives on business model innovations has increased and reached much higher than expected before The study further highlighted that companies who outperformed their rivals and whose operating margins have grown at a much greater pace in the last five years were putting twice as much focus on the business models as the underperforming companiesRelevance of Porter's Competitive AdvantageIn late 1980s, Michael Porter published a book, Competitive Advantage, which in no time became the bible of businesses and academicians There have been many management ideas and books that sold millions of copies over the last couple of decades, but none has been as influential as Porter's Competitive Advantage Porter argued that a company can achieve competitive advantage by providing buyers more value at a lower cost (low cost) than their competitors, or by performing activities in unique ways that create more value than their competitors and therefore charge a premium price (differentiation) Porter suggested that a firm can dominate its competitors either by being cheap or by being different or perceived to be different by customers …

Why Business Model Innovation Is the New Competitive Advantage

Speaking at the IOD Annual Convention 2014 in London, Travis Kalanick, CEO of Uber made a bold statement that "Uber is not a taxi service provider." This statement took everybody by surprise as Uber has become one of the biggest taxi service providers, having global presence in more than 55 countries and 200 plus cities worldwide. Uber has emerged as a biggest start-up in corporate America since the last 5 years, and is expected to overtake some of the biggest companies in United States in a couple of years down the line. The company was expected to touch $10 billion in revenues by the end of 2015, while a company like Facebook, after completing 10 years of its operations for the first time, is expected to earn $10billion in revenues this year. The case highlighted how Uber has transformed a traditional capital intensive industry into a high-tech business. The company relies on an independent pool of contractors (cab owners/drivers) who register themselves on Uber's website and for every ride, 80% of the payment goes to the driver, and Uber takes the rest 20%. The case further illustrated the various challenges which the company is facing in its global expansion, particularly in countries like Spain and India, and questioned the validity of surge pricing.

https://www.researchgate.net/profile/Makhmoor-Bashir/publication/304843002_Disruptive_business_model_innovation_How_a_tech_firm_is_changing_the_traditional_taxi_service_industry/links/5a4f0201a6fdcc7b3cda883b/Disruptive-business-model-innovation-How-a-tech-firm-is-changing-the-traditional-taxi-service-industry.pdf

Disruptive business model innovation: How a tech firm is changing the traditional taxi service industry

Adoption of social media by political leaders for information dissemination, campaigns, and elections has been proliferating since 2008 and in 2020, 23% growth in Twitter users is observed. Past st...

Emotions in leader’s crisis communication: Twitter sentiment analysis during COVID-19 outbreak

An increase in the use of simulation as a modeling and analysis tool has resulted in a growing number of simulation software products in the market. Companies are seeking advice about the desirable features of software for manufacturing simulation, depending on the purpose of its use. Because of this, the importance of an adequate approach to simulation software evaluation and comparison is apparent. This paper presents a critical evaluation of several widely used manufacturing simulators: ProModel, AutoMod, HyperMesh and ProcessModel. Following a review of research into simulation software evaluation, an evaluation and comparison of the above simulators is performed. The main purpose of this evaluation and comparison is to discover the suitability of certain types of simulators for particular purposes.

Rajesh Verma

Papers

Internal factors & consequences of business model innovation

Why Business Model Innovation Is the New Competitive Advantage

Disruptive business model innovation: How a tech firm is changing the traditional taxi service industry

Emotions in leader’s crisis communication: Twitter sentiment analysis during COVID-19 outbreak

A critical evaluation and comparison of four manufacturing simulation softwares