Based on the above statement. discuss and critically evaluate the Essay

Based on the above statement. discuss and critically evaluate the conceptual Business Model framework with reference to structur - Essay Example Success in this case is not only valued in the amount of money that a business is able to make but is based on whether the organization is able to achieve all the objectives it had set out for itself at the beginning of the business. For example, a Non Profit organization does not focus on increasing their profit margin but have other objectives on hand (mainly to do with helping others) and it is by achieving these objectives that they consider themselves successful. A business model will determine the structure and purpose of an organization as well as how that organization will evaluate itself. The model is chosen at the beginning of the formation of the business and will determine how a business will proceed henceforth in attaining the objectives that it has set out for itself (Pike & Neale, 2003). The type of business will depend on the ambition of the organization and what they hope to achieve by setting up the business (Spencer, 2000).. ... Therefore it can be said that the business model used brings out the character of a business. There are a number of objectives that an organization that enters the market may hope to achieve and it is these objectives that determine the type of business model that will used by the company (Cuthbertson & Nitzsche, 2001). It is essential to understand the main categories of these objectives in order to understand the business models that have been employed to achieve them. The main categories of business objectives include: Profit – This is the most traditional objective in existence when it comes to businesses. Most organizations are set up in order to make money from the activities that they participate in and thus the main objective of such a business would be to improve their profit margin as much as possible (George & Bock, 2012). Such businesses will employ a business model that mainly focuses on gaining a controlling hold on the market and attracting as many consumers as possible while using the least amount of money in terms of cost in activities such as production and other required necessities that may include factors such as marketing and advertising strategies and remuneration among other costs. Social Uplifting – This is a newer concept with organizations and has developed from the emergence of social responsibility that organizations may feel towards the society that they operate in. This objective focuses on improving the lives of individuals within the society that they operate in and do not only focus on improving profit margins. In such an organization, decisions are influenced by how they will affect the society and do not only focus on the bottom line (George & Bock, 2012). These organizations feel that it is possible for everyone to