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Book review: Business Model for Entrepreneurial Venture: Developing Sound Metrics for Long-Term Success
Journal of General Management Pub Date : 2021-01-01 , DOI: 10.1177/0306307020919886
Neeraj Pandey 1
Affiliation  

In ‘Business Model for Entrepreneurial Venture: Developing Sound Metrics for Long Term Success’, David Newton talks about the importance of having a robust ‘Business Model’, especially for emerging radical technology-based businesses. Generally, the business model not only serves as a mirror to view and analyse how minor changes impact the overall operational plan, but also acts as the backbone of any venture (Chesbrough, 2010). The most deeply rooted pillars of a venture will endure despite economic fluctuations and market adversities hit by the market force (Screwvala, 2015) should be addressed properly in a business model. Since long, most of the start-up founders stress on the unique problem-solving plan and highlight the potential markets for their novel innovation. However, these funders did not think it necessary to come up with a robust ‘Business Model’ sometime. This book is arranged in 10 chapters: identifying venture opportunity, margin burn and volume: the business model, planning and managing pricing structure, planning and managing direct cost, planning and managing gross profit, planning and managing fixed overhead, business models and scenario analysis, business models impact all venture decision, business models and new venture funding and examples of successful business models, respectively. Entrepreneurs are often characterized as ‘dreamers’ for living in the future. It is true that an entrepreneur is a dreamer but she/he should not carry the art-of-state as first-to-market. The idea has to be suitably tested before launching to the market and/or end users and any entrepreneurial venture must clear the hurdles of feasibility and viability to have even a preliminary chance of success. In Chapter 1, the author discusses how the business model not only captures the feasibility and viability of a venture but also establishes a relationship between the three basic variables – price, direct cost and fixed overhead expenses. It defines where and how the venture will generate revenue and the possibility of viable growth. At the initial stage of idea generation, it is difficult for a rookie founder to come up with a robust business model. Several variations arise between the projected and actual costs leading to variation between the planned business model and reality. ‘Planning and managing the pricing’ is now taking the shape of management science, which provides a platform for the long-term competitive advantage to the venture. On the other hand, structure is an internal consistency that a venture requires. The founder needs to have hands-on learning and deep understanding of cost management while designing a business model. Chapters 1 and 2 familiarize and describe how an entrepreneur spots and develops new opportunity in the market and the basic component of the Margin, Burn and Volume (MBV) business model. The MBV business model allows multiple scenarios to be tested and evaluated to see which combinations of assumptions align into the most reasonable performance expectation for the venture. Chapter 3 examines the key factors in different pricing strategies and explains how price functions as an indicator of future benefits that the buyer gets for a given price. Moving ahead with Chapters 4, 5 and 6, in a nutshell these provide a blueprint for planning and managing the direct costs, gross profits and fixed overheads of a new venture, along with appropriate examples of actual businesses. Chapter 7 provides a comprehensive review of how an entrepreneur’s flexible decision is a function of whether the business model allows for dynamic updates of the various inputs, and to what degree do they impact overall venture success. The impact on the MBV can be traced back to a particular decision. Later in this chapter, the author focuses on the business model that serves as the lens through which an investor can track the scalability and expected rate of return. The book puts forth the idea that any problem in this technology-driven modern world cannot be solved by a sole area or domain. In fact, contemporary problem-solving requires assimilation of expert opinions from different domains at every step from idea generation to successfully launching the venture and even later on.

中文翻译:

书评:创业型企业的商业模式:为长期成功制定合理的衡量标准

在“创业型企业的商业模式:为长期成功制定合理的指标”中,大卫牛顿谈到了拥有稳健“商业模式”的重要性,尤其是对于新兴的基于技术的新兴企业。通常,商业模式不仅可以作为查看和分析微小变化如何影响整体运营计划的镜子,而且还是任何企业的支柱(Chesbrough,2010)。尽管经济波动和市场逆境受到市场力量的打击(Screwvala,2015 年),但风险投资最根深蒂固的支柱仍将持久存在(Screwvala,2015)应在商业模式中得到妥善解决。长期以来,大多数初创公司的创始人都强调独特的解决问题的计划,并强调其新颖创新的潜在市场。然而,这些资助者认为没有必要在某个时候提出稳健的“商业模式”。本书分为 10 章:识别风险机会、利润消耗和数量:商业模式、计划和管理定价结构、计划和管理直接成本、计划和管理毛利润、计划和管理固定费用、商业模式和情景分析,商业模式分别影响所有风险决策、商业模式和新风险投资以及成功商业模式的例子。企业家通常被描述为生活在未来的“梦想家”。企业家确实是梦想家,但她/他不应该将国家艺术作为第一个进入市场的人。在向市场和/或最终用户推出之前,必须对这个想法进行适当的测试,任何创业企业都必须清除可行性和可行性的障碍,以获得成功的初步机会。在第 1 章中,作者讨论了商业模式如何不仅捕捉风险投资的可行性和可行性,而且还建立了三个基本变量——价格、直接成本和固定间接费用之间的关系。它定义了企业将在何处以及如何产生收入以及可行增长的可能性。在创意产生的初期,菜鸟创始人很难想出一个稳健的商业模式。预计成本和实际成本之间会出现多种差异,从而导致计划的商业模式与现实之间存在差异。“计划和管理定价”现在正在形成管理科学,它为企业的长期竞争优势提供了一个平台。另一方面,结构是企业需要的内部一致性。创始人在设计商业模式时需要动手学习和深入了解成本管理。第 1 章和第 2 章熟悉并描述了企业家如何发现和开发市场中的新机会以及保证金、燃烧和交易量 (MBV) 业务模型的基本组成部分。MBV 业务模型允许测试和评估多个场景,以查看哪些假设组合符合企业最合理的绩效预期。第 3 章研究了不同定价策略中的关键因素,并解释了价格如何作为买方在给定价格下获得的未来收益的指标。继续第 4、5 和 6 章,简而言之,它们提供了规划和管理新企业的直接成本、毛利和固定间接费用的蓝图,以及实际业务的适当示例。第 7 章全面回顾了企业家的灵活决策如何取决于商业模式是否允许各种投入的动态更新,以及它们在多大程度上影响整体风险投资的成功。对 MBV 的影响可以追溯到一个特定的决定。在本章的后面,作者专注于作为镜头的商业模式,投资者可以通过该模式跟踪可扩展性和预期回报率。这本书提出的观点是,在这个由技术驱动的现代世界中,任何问题都无法通过单一领域或领域来解决。事实上,当代解决问题需要在从创意产生到成功启动企业甚至后来的每一步都吸收来自不同领域的专家意见。
更新日期:2021-01-01
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