Planning and Critical Thinking

What is the significance of planning and thinking in scholarly writing?
by Aminat Abubakar – Tuesday, 24 January 2017

The significance of planning as explained by Booth, Colomb, & William (2008, p. 5) “One helps them prepare and conduct their research; the second helps them draft their report of it.”  Planning helps the writer decides and concentrate on the topic to write on in order to capture the reader’s attention.  You want to be in control of what you are writing and not being all over the place. As a researcher “when you plan your argument early, you grasp your material better and avoid wasted effort, especially return trips to the library” (Booth, 2008, p. 108).

Booth (2008) noted that, a plan helps you recognize the element of your argument from a form that may seem coherent to you into one that will be both coherent and persuasive to your readers (p. 177).

While thinking helps with making inquiries towards search for answers, the search will guide the plan of action in writing the research.  In thinking, the writer has to ask such question as explained by Zinsser “In what capacity am I going to address the reader?…“How much do I want to cover?”  “What one point do I want to make?”  (2016, pp. 51-52).  Jan Archer stated in an article (Critical Thinking Skills Necessary in Writing) “As a writer, when you use critical thinking, you enable yourself to create new knowledge rather than simply reporting on what already exists.”  She went further to explain that, “At the very root of critical thinking are questions.  You must have a truth you want to search for in order to set out on a path of purposeful thinking and writing.”
Planning and thinking are important components for a successful scholarly writing.

Critical Thinking Skills

References

  1. Archer, J. Critical Thinking Skills Necessary in Writing.  Retrieved from http://classroom.synonym.com/critical-thinking-skills-necessary-writing-1189.html
  2. Booth, W. C., Colomb, G. G., & Williams, J. M. (2008). The craft of research (3rd ed.). Chicago, IL: The University of Chicago Press. ISBN: 860-1400125373.  Chapters 7-10, 12-13
  3. Sotir, D. (2014, December 7). Critical Thinking Skills [Video file]. Retrieved from https://www.youtube.com/watch?v=9PsLktb7HTA
  4. Zinsser, W. (2006). On writing well: The classic guide to writing nonfiction (7th ed.). New York, NY: HarperCollins Publishers. ISBN: 978-1595555038. Chapters 6-10, 20-23 & 25
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Value Proposition

What is the importance of knowing the customer profile in designing the value proposition for the business?
by Aminat Abubakar – Wednesday, 18 January 2017

Osterwalder & Pigneur, describes “value proposition as the benefits customers can expect from a company’s product and services” (2010, p.2).  The importance of an organization understands a customer profile in the design of value proposition cannot be overemphasize.  “The Customer (Segment) Profile describes a specific customer segment in your business model in a more structured and detailed way, it breaks the customer down into its jobs, pains, and gains” (Thompson, Jnr., Strickland III, & Gamble, 2010, p. 9).
The Customer Profile gives an in-depth understanding of a customer problem and need that aids an organization in the design, production, or customization of a value proposition in a business; there are three components identified as Pains, Jobs, and Gains.
Customers Jobs are those daily activities in a customer’s life or work that needs to be accomplish in order to solve a problem or satisfy a need, it is important for an organization to understand hierarchy placed on each problem and need, not to assume collectively as the same.

Customer Pain is the degree of discomfort a customer feels on trying to get job done before, during, and after an event.  An organization can decipher the degree of pain whether moderate or extreme, and level of significance to the customer.
Customer Gain is the result and values a customer would expect in solving a problem or satisfying a need.  Hyatt (2012) explains a “WOW” experience always exceeds customer expectation.  These benefits can be required, expected, or desired, but an organization must understand the relevance.

To sum up, successful value proposition is an organization’s in-depth understanding of Customer Profile through job rank, pain severity, and gain relevance.  Apple’s success is evident in its Apple iTune music store and Apple iPod, whereas, “Sony developed the Walktnan audio player, redefining the market for portable music devices, but failed to develop a successful MP3 player” (Koen, Bertels, & Elsum, 2011).  As such, organizations that miss on this critical aspect of Customer Profile run the great risk of value proposition failure.

In order for your organization to avoid risk of failure in your value proposition to the market, you should study the steps Apple took and applied, as well as other successful businesses in understanding the importance of customer profile in designing the value proposition for the business.  This cannot be over emphasize.

Value Proposition Canvas Explained 

References

  1. Hyatt, M. (2012). PLATFORM: Get Noticed In A Noisy World. Nashville, TN: Thomas Nelson Inc.
  2. Koen, P. A., Bertels, H. J., & Elsum, I. R. (2011). THE THREE FACES OF BUSINESS MODEL INNOVATION: CHALLENGES FOR ESTABLISHED FIRMS. Research Technology Management, 54(3), 52-59. doi:10.5437/08953608X5403009
  3. Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: John Wiley & Sons, Inc.
  4. Osterwalder, A., Pigneur, Y., Bernarda, G., & Smith, A. (2014). Value Proposition Design. Hoboken, NJ: John Wiley & Sons, Inc.
  5. Strategyzer. (2014, July 21). Value Proposition Canvas Explained [Video file]. Retrieved from https://www.youtube.com/watch?v=aN36EcTE54Q
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Business Model

Define and Discuss – Business Models
by Aminat Abubakar – Thursday, 12 January 2017

In their book Business Model Generation, Osterwalder & Pigneur (2010, p.14) define business model as “the rationale of how an organization creates, delivers, and captures value.”  The concept is important because it shows the different scenarios organization can deploy to create new products or improve on existing products in order to generate revenue.  Osterwalder & Pigneur explained that the business model is the seamless integration with the nine-business building block canvas categorized into four components with the business setting namely customers, offers, infrastructure, and financial viability which is very important to an organizational strategic implementation through organizational structures, processes, and systems (2010, p. 15).

The nine building blocks canvas includes Customer Segments, Value Proposition, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure.  Thompson, Strickland, and Gamble (2010, p. 14) mention, “a company’s business model is management’s story line for how the strategy will be a money maker.”

An organization utilize Customer Segments based on customer profile research through geographical, social, and demographic survey to distinguish who their customers are in order to create value to generate revenue. Value Proposition solves customer problems or satisfies customer needs based on the interpretation of the Customer Segments research result.  Channels are means an organization uses to convey value proposition to customers in the form through electronic media and social media, physical distribution, and sales channels.  Customer Relations indicates how an organization would go about acquiring, retaining, and expanding on their customers, these could be through face-to-face contact, automated or self-service.

Revenue Stream shows how an organization generates revenue from Customer Segment through Value Proposition.  Key Resources are the assets needed such as financial, physical, intellectual, and human capacity to generate value proposition.  Key Activities are actions taken by an organization towards the success of its operations.  Key Partnerships such as strategic alliance, joint ventures, and supplier/buyers that would leverage value proposition.  Cost Structure highlights the inherent cost to operate the business.

As mentioned by Christensen, Bartman, and van Bever (2013), if a business model is “executed correctly, it has the ability to make companies resilient in the face of change and to create growth unbounded by the limits of existing businesses.”  However, as explain by Cliffe threat to business model failure occurs when there are internal problems, and disconnect from the customer profile (2011).
Future investigation to avoid risk of failure is needed there is much to be learned about importance of knowing the business model to an organizations success.

Business Model Canvas Explained

 

References

  1. Clayton M. Christensen, Thomas Bartman, and Derek van Bever (2016, September 13). The Hard Truth About Business Model Innovation. Fall 2016  Retrieved from http://sloanreview.mit.edu/article/the-hard-truth-about-business-model-innovation/
  2. Cliffe, S., (2011, Jan-Feb). When Your Business Model Is In Trouble. Retrieved from https://hbr.org/2011/01/when-your-business-model-is-in-trouble
  3. Osterwalder, A., & Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: John Wiley & Sons, Inc.
  4. Strategyzer (Director). (2011, September 1). Business Model Canvas Explained [Video file]. Retrieved from https://www.youtube.com/watch?v=aN36EcTE54Q
  5. Thompson, Jnr., A. A., Strickland III, A. J., & Gamble, Gamble, J. E. (2010). Crafting and Executing STRATEGY. The Quest for Competitive Advantage Concepts and Cases. (17th ed.). New York, NY: McGraw-Hill Irwin

 

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