Enterprise Architecture for Research Archive Organization - Report Example

Enterprise Architecture Contents Contents Introduction 2 Company Background and Business Concept: Visions and Missions 2 Marketing Objectives and Strategies 3 Business Model 4 Infrastructure: 5 Offering: 6 Customers: 6 Finance: 7 Requirements of a Business Model 7 Identification of Business Entities in the Business Model 7 The Role of the Business Entities 8 The Business Model Diagram for ResearchArchive: 9 References: 10 Introduction Identifying the core business model is critical to the survival of any business organizations, and there has been a substantial amount of research in this domain by managers as well as academicians. Companies are concentrating more on creating innovative business models that will enhance their profits and help them develop sustainable competitive advantage. Business models are being innovated and implemented replacing the conventional business models and the traditional ways of doing business, examples can be seen in the airline and the music industries. The rapid advancements made in technological and information areas have literally changed the ways business was done before. Established companies are looking for new and more innovative ways to conduct their business to compete against the rising competition and to keep off unwanted insurgents. And on the other hand this business era which can be termed as the "entrepreneur era", entrepreneurs are looking and finding ways to create new and innovative business models to carve out a niche of their own in the market. This paper concentrates on the development of a business model for a company specialising in internet marketing business. By means of the company and the development of its business model the paper offers a comprehensive study on the significance of a business model and the different integral requirements needed by a company to sketch its business model. Company Background and Business Concept: Visions and Missions The main objective of this assignment being the selection of a business and creating a business model for it, the business of internet marketing was chosen. And so as to give the company more substance and originality, the company was given a fictional name, ResearchArchive. This particular name was chosen for the company as it, in more ways than some gives a prompt first impression idea of what the company and its business is about. The main business idea or the business concept behind this business venture is providing academic research materials to prospective customers. ResearchArchive is a business enterprise that specialises in providing E-books and journals via interactive marketing. The company offers relevant web based books and journals that are needed for writing academic research papers such as term papers, dissertation papers, thesis papers etc. For the short term the company seeks to be the leading provider of E-books and E-journals and documents for students based in UK, US, Australia and New Zealand. On the long term, the company aims to be the most innovative and prolific providers of web based academic research materials catering to students all over the globe. Marketing Objectives and Strategies Marketing objectives are those objectives that define what behavior an organisation wants from the target markets, they comprise the measureable ends that need to be achieved (Hiebing R.G. & Cooper S.W., 2003). ResearchArchive being a web based academic research material for international students, the main marketing objectives of the company are: To identify, reach out and communicate with the maximum number of prospective customers on a world-wide scale. Relay the benefits and advantages of the company's business offerings to the target market. Provision of products and services as in academic research materials that meets the requirements of the customers. Develop a long-term and a profitable relationship with the customers. Carve out a space for itself in the market and create a sustainable competitive advantage. In order to successfully achieve these marketing objectives, the marketing strategies adopted by ResearchArchive are: Creating Communities around its products and services by creating communities by knowledge management platforms such as discussion forums, mailing lists etc. Positioning itself as low-cost, high volume and high quality service providers. Employing internet marketing strategies like Search Engine Optimization (SEO) and Search Engine Marketing (SEM). Use of traditional methods of website promotion such as: Promotion through Ad-words Inclusion of the websites URL on the products of the organisation Promoting the site on online forums and blogs and Developing free services (Dr. Wilson R.F., 2006) Likewise, for ResearchArchive to achieve its aim and objectives and implement its marketing strategies so as to gain competitive advantage over its competitors, it will first need to have an innovative business model presenting a simplified version or a description giving an idea of its more complex practical objective. A business model that will describe the company's original objectives in a simplified manner through which the company's main underlying plans are easily understood without having to deal with the complexities and other intricate characteristics. Business Model A Business Model is a company's skeletal framework for creating social, economic and other forms of value. It is the method of doing business by which a company can gain and sustain its competitive advantage. In more simple terms, a business model of a company is a representation of how a company can make economic profits, through the specification of its position in the value chain. Hence the business model design template, consisting of the 9 essential blocks proposed by Osterwalder (2004) is first used as reference business model to provide a more descriptive representation of ResearchArchive's core business aspects and objectives: Source: Osterwalder, A., 2004. As per this business model template design ResearchArchive's business model and its business has been described in the following segments: Infrastructure: Core capabilities and competencies required to implement the company's business model. It can also be referred to as the company's key resources and with ResearchArchive its' capabilities and resources is its in-house team of experts and their respective abilities and capabilities. Partner network refers to the company's business alliances, however in the case of ResearchArchive, which is a startup business enterprise it does not have any partners in the beginning of its business venture, however in the long run the company may enter into partnerships or joint ventures with companies involved in similar business activities, for instance with a company specialising in interactive marketing of preparatory tools for international tests or with an online library. In both the cases each company should be able to complement the other through their individual business expertise and create platforms for new innovations. Value Configuration: The rationale, which makes ResearchArchive's business mutually beneficial for the customers and the business as well, is that, the company will assist students in their preparation of academic research papers by providing them with online research materials. This will be beneficial for the customers as through this service the customers will be able to avail of relevant academic research materials more conveniently and in comparatively less amount of time. And if the customers find this service beneficial, the business will naturally benefit. Offering: Value proposition are the products and services offered by the company as in providing web based academic research materials in the form of E-books, journals, documents and other such kind of relevant materials that can be downloaded as "pdf" files through the internet while some can be bought via online transaction. Customers: Target Customers: the target customer or the client segment refers to the market the company ResearchArchive will be targeting. In this case the target market will basically comprise students from UK, America, Australia and New Zealand. Distribution Channels: the communication and the distribution channels is the medium through which the company will reach out to its target market. The primary form of communication and distribution channel will be the internet and the company's website. Customer Relationship: the company will establish its relation with its clients and prospective customers by providing knowledge based discussion platforms as in forums and group chatting networks within its website and additionally the company will make use internet marketing strategies like the SEOs and SEMs. Finance: Revenue: Internet being the company's primary mode of marketing, hence Internet Commerce Web 2.0 Strategies will be crucial in generating ResearchArchive's revenues. Requirements of a Business Model The business model of a company that fits the specific objectives of a particular business enterprise should: Deal with the design and manufacturing processes. Identify the different and various processes within the business. Contain all the necessary tools and other required paraphernalia to carry out its business to its maximum potential (Nazzel, D., n.d). Identification of Business Entities in the Business Model First the different business entities need to be identified in order to incorporate them into the business model of the company. The business entities identified for ResearchArchive are listed below: Management or Administration Center. A division for online marketing and sales. A maintenance division. Delivery unit. Customer care unit. Account Division. The harmonious integration of these business entities will build up the business landscape. The Role of the Business Entities Management or Administration: the role of the ResearchArchive management will be to innovate new strategies for the company to achieve its marketing objectives and see to the effective implementation these strategies. The management will also be responsible for inculcating a sense of team work and collectivism among his employees, to provide a work open environment built on trust and where every team member will feel free to express their thoughts, views, opinions without any fear of reprisal or ridicule (Hessket, J., 2007) Online Marketing and Sales Division: this business entity within the business model will be responsible for the overall marketing and sales of the company's services and products through web based interactive marketing. A Maintenance Division: the maintenance division will be headed by the creative head responsible for the company's website and its promotion. This division will also include technicians for the proper maintenance of the website and will also take care of technical issues in regard to the business. Delivery Unit: as the name of the unit suggests, the division will accountable to making prompt online deliveries and shipment deliveries of the company's products and services to the relevant destinations. Customer Care Unit: the customer care unit will be in charge of customer care services as in taking care all forms of queries related to the ResearchArchive's business, its services and products. Account Division: this division will be accountable to the company's overall financial issues such as reporting the company's financial status, forwarding of salaries, business incurred expenses etc. The Business Model Diagram for ResearchArchive: References: Dr. Wilson, R.F., (2006), "The Web Marketing Checklist", Web Marketing Today, retrieved on 2nd April, 2009, from: http://www.wilsonweb.com/articles/checklist.htm, Hessket, J., (2007), What is Management's Role in Innovation , Harvard Business School, retrieved on 2nd April, 2009, from: http://hbswk.hbs.edu/item/5821.html Hiebing, R.G. & Cooper S.W., (2003), The Successful Marketing Plan, 3rd Edition, McGraw-Hill Professional Nazzel, D., (n.d), Reference Architecture for Enterprise Integration, Georgia Institute of Technology, retrieved on 2nd April, 2009 from: http://www2.isye.gatech.edu/lfm/8851/EIRA.ppt Osterwalder, A., (2004), The Business Model Ontology- A Proposition In A Design Science Approach, retrieved on 2nd April 2, 2009, from: http://www.informaworld.com/smpp/contentcontent=a785034169 Read More