The Business Model of Work as in Reality - Article Example

?Topic: WAR Work As In Reality (WAR) is a device with a software program designed to help after they graduatefrom the to work professionally the first day at work. This can happen through work experience that students can gain after working for many years by WAR, which allow them to get a job directly after graduation. this is regarding to the agreement with some large companies that would contribute and help students to manage his work position.students in the universities will get the option to ownership the device or to rent it .WARcreates a virtual environment for learning based on simulated examples from course curriculum.. The projector is used to display 3D models and also has a lamp and speakers. The pen type projector consists of photolithography lenses operating in 3D to reflect images and components. WAR itself can be thought of as a unique and innovative concept incorporating the state-of-the-art technologies of ubiquitous learning, adaptive multiple intelligences, etc. Tangible to intangible The business model of WAR is unique in terms of providing the advantages of a ubiquitous learning environment that facilitates students to learn the concepts of their curriculum in virtual real-time using models that can be projected in 3D. The idea of WAR also can be found to be unique in its approach to marketing and business, as it focuses on the creation of value to customer rather than creating a tangible asset for economic profitability. The intangible nature of the innovation makes it a standard frame of reference for delivering service over a network of businesses and academic entities. While the philosophy of service delivery through WAR is akin to the concept of Service-dominant Logic (SDL) (Lusch et al., 2011) which helps managements and marketers to use this frame of reference to deliver intangible service offerings, the efficient utilization of the service still depends on the ability of the consumer or student, manager, teacher, etc.in utilizing the service for profitability through increasingly collaborative processes. Personalized experience Consumers today have more access to information, increasingly network in the globalized world, use internet technologies to become aware of the products and services of different companies and are able to provide feedback. There is an increasing awareness of the rights and responsibilities of both consumers and companies owing to increased communication and collaboration during their interactions. Further, companies always have to engage consumers for sustaining their business and also bringing the consumer-company interaction under severe scrutiny.This leads to a challenging situation for companies to develop innovative and profitable patterns of collaboration that can help create value for both and a coherent system for value creation that matches the company’s supply value chain and consumer demand is to be developed based on a new frame of reference for value creation, called co-creation (Source 1). Co-creation of value is centered on consumer experience, and the design of WAR successfully achieves this value in terms of a small device or pen and a flexible temporary ownership of the device. While the different events during consumer-company interaction create experiences for the consumer in the context of space and time, it is the individual consumer’s experience that determines meaning of the interaction. This personal involvement and experience is a combination of subjective, objective and relational events and interactions creating personalized experiences, with the individual at the centre and companies having little say over the outcomes (Source 2). WAR has been achieving this goal with its targeting of students in two phases: experience and share the program and providing feedback. While co-creating of value is important for a company, it should also be able to deliver profits against this value creation, which is another major consideration for the companies. Delivering Profits Customer-centered marketing does not always yield profits as seen in the case of the initial design rollout of WAR when student enrollment fell due to the high prices of compulsory owning the device. This implies that a customer-driven approach to marketing and product or service delivery is not always profitable and that an innovative approach of Delivering Profitable Value (DVP) can be more beneficial. However, this approach needs to be based on personalized value-creation by identifying the right target segment that helps the company achieve its business strategy with specific trade-offs for value proposition (Source 3). The internally-driven business strategy of a company can be integrated with its DVP initiative for student experience in its initial stage of rollout. The design of WAR is more flexible and convenient as it can be integrated into its internal-driven behavior and consumer-compelled behavior to successfully create value proposition within its DVP framework and methodology, setting the stage for an empathic design facilitating innovation. Design for consumer value Empathic design involves observation of consumers or students and teachers, student networks, etc. creating personalized experiences and information which is later gathered. This gathered data is further reflected upon and analyzed to develop solutions based on co-creation with further development of prototypes for value proposition. Empathic design as a concept of culture shift can be implemented with the development of the small device that is flexible and offers customized use (Leonard and Rayport, 1998). The device can be owned temporarily by the students who enroll into a program, gain work experience that can be counted when they approach the different companies for employment. To sum it all up, the WAR innovation as a ubiquitous tool for learning incorporates adaptive multiple intelligences for value proposition. It is intended to help businesses and academics in offering personalized experiences of working as in real to learn the different course examples. The program uses the concepts of service-dominant logic (SDL), personalized co-creation, delivering profitable value (DPV) and empathic design of marketing to create value proposition. The design is successful in creating value proposition as witnessed by the increase in student enrollment which increased by 70%. Further, this design can be found to be sustainable along with being flexible to scale, as it utilizes intangible design concepts and methodologies. Word count: 1,023 References Lusch, F. Robert, Vargo, L. Stephen and Malter, J. Alen. (2011). Service Dominant Logic. Source1: 594192_prahalad_ch_1_1.pdf Source2: 594192_prahalad_ch5.pdf Source3: 594192_dpv_ch1.pdf Leonard, Dorothy and Rayport, F. Jeffrey.(1998). Spark innovation through empathic design. Read More