Optimising flight training complex commercial activity: business modelling approach

PurposeThe purpose of this article is to promote an innovative approach to education development projects by the application of business modelling tools and methods.Design/methodology/approachThe proposed method is based on tools and methods from the business modelling area, such as stakeholder mapping, SWOT analysis, business modelling canvas and scenario analysis. The applicability of the approach is illustrated by a case study conducted on an engineering programme, where qualitative and quantitative data were gathered through interviews, surveys and workshops.FindingsUtilising business modelling tools for development projects in higher education gives several benefits: (1) knowledge-informed decision making; the methods require good understanding of the current situation as well as possible strategies to be applied, that is data gathering is necessary before decision making; (2) structured decision making by applying a step-by-step approach for the development project; (3) including different stakeholder's perspectives in order to gain a holistic understanding and avoid sub optimisation.Originality/valueThe approach promotes innovation and action driven development rather than a bureaucratic and metric based improvement process. Tools and models from the business area have previously been applied for educational development. However, a holistic business modelling approach for educational development has not yet been applied.

The current work fills in the existing research gap with regard to business modelling approaches applied to the technologically-driven markets. Taking into consideration the highly innovative and evolving nature of the latter ones, this paper combines the most relevant business modelling methods, creating a detailed, dynamic and holistic integrative business modelling approach. The integrative approach is applied on the electric vehicles charging market, where the defined business model archetypes of the core participants of the business ecosystem are described and analysed.

Through increased globalization and fast changing customer demands companies need to adapt their service management constantly. Business model approaches can provide a suitable base to comprehend the service management of a company. However, existing knowledge about the business model artefacts and the possibilities in service management is very diffuse. With this work, we want to shed light on the state-of-the-art of business model research with a specific focus on the different possibilities for a use in service management. We perform a systematic literature review and present a comprehensive overview of different existing business model artefacts including constructs, models, methods and instantiations. This can be possibly used to support service management and for future research this field. This demands requirements of suitable tool support from theory and practice both. It furthermore strengthens the relation between business modeling and service management. Overall, this research should strengthen the awareness of using the available business model capabilities for service management in order to create powerful management tools.

The interest in circularity and circular strategies is increasing in the furniture industry. Wood is a climate-smart and sustainable material, partly because it has many environmental advantages compared to other materials such as plastic or metal, partly because it is a highly renewable material. Today, the technical lifespan of wood products such as furniture is not fully utilized. Today, the technical lifespan of wood products such as furniture is not fully utilized, which could be explored through circular strategies. By extending the life of products, components, and materials, the environmental impact could be significantly reduced. However, several challenges have been identified that hinder the establishment of circular strategies. Inconsistent policies and obstructive legislation, high initial costs and long payback periods, low consumer awareness, and lack of collaboration in the value chain are examples of main challenges. The research question addressed in this paper is How to facilitate the circular development of the Swedish furniture industry by promoting circular business models? This paper discusses the barriers and drivers of circularity with specific focus on the characteristics of the furniture industry in the Swedish context. A conceptual approach for establishing circular strategies in the furniture industry based on the 10R model, the business model canvas, and the product-service system approach is proposed. The approach facilitates the identification of relevant circular strategies that can be developed into circular business models. The paper concludes that circular strategies and business models entail positive economic, environmental, and social sustainability impacts for customers, companies, as well as on the society, but to achieve the benefits, organizational and technical solutions addressing the barriers on organizational, industry, and societal level must be developed. Circular business models are a way to overcome several of the barriers while promoting industrial and value chain collaboration.

The role of tourism sector increasingly important in line with the development of Indonesian economic structure leading to services sector. Business modelling approach is one of the critical factor to the success of an organization. Bunaken National Marine Park in North Celebes is a representative of the tropical water ecosystem in Indonesia that consists of mangrove, seagrass, coral reefs and coastal. The objective of this research were to identify the business modelling of Bunaken and to analyze its improvements using descriptive-qualitative method. Business modelling method were analyzed by business model canvas 9 building block. Increasing of the value proposition, costumer segment, costumer relationship would be affected to revenue stream organization. Supporting the value proposition needed key activities, key resources and key partnership. The management of Bunaken should have the appropriate human resources to apply this modelling.

The development of marine tourism in Ternate has shown significant growth in recent years. The island offers marine ecotourism in the form of stunning underwater beauty, with beautiful coral reefs and rich marine biodiversity. Nukila Dive Center has an important role in the sustainability of tourism to support the tourism industry in Ternate. The business model approach is one of the important factors for the success of a company. The purpose of this study is to identify the Nukila Dive Center business model and identify the steps to create a conservation-based diving tour package. The business modeling method and the design of a conservation-based diving tour package are analyzed with nine elements of the business model canvas. Increasing value propositions, customer segments, and customer relationships will affect a company's income. Based on the results of the study, the elements of the business model at Nukila Dive Center were identified, namely the existing customer segments, namely domestic and foreign tourists. The value proposition offered is in the form of attractive underwater nature tourism. The current customer relationship is a direct relationship not only individually, but also with groups/diving communities and sea transportation associations. Revenue Streams received from diving trips, certification and equipment rental. Key resources in trip diving are the underwater beauty in the form of coral reefs and their ecosystems, as well as human resources. The existing key activities are trip diving and certification, Key partnerships currently carried out are travel agents, diving equipment providers, government agencies, diving communities. Cost Structures include ship fuel, equipment and facility maintenance, staff salaries. The prototype design that was made aims to be able to add value proposition to help add value at Nukila Dive Center to add new customer segments with the output of conservation-based diving tour packages in the form of e-flyers

ABSTRACTForest cooperatives are essentially a form of entrepreneurship. However, they are confronted by various problems and they cannot pay enough attention to value creation. The aim of this paper is twofold: (a) the identification of the structural factors supporting the function of Greek forest cooperatives and the exploration of the possibilities of applying business model innovation to them; (b) the investigation of how the development of an integrated business model can help cooperatives stay ahead in the innovation game, while securing sustainability. By applying business modeling procedures to the forest cooperatives of the Region of Thessaly (Greece) this paper presents, the implementation of innovative development strategy, within the current legislative framework. Results show that the business model approach gives them the ability to develop a shared vision for value creation and delivering through the establishment of a framework related to sustainable forest management based on creation of bonds for achieving a win-win strategy, satisfying the increasing needs for innovative forest-based products, which constitutes a challenge for the sustainable management of forests. We argue that this is the first time this approach has been made regarding forest cooperatives in Greece in relation to the emerging parameters of the general business environment.

Digital Twins are one of the most trending topics. However, there are still open issues in the development of Digital Twins. One of these impediments is formulating a clear and valid value proposition of a Digital Twin. Therefore, this paper presents a novel business modelling approach for Digital Twins. Based on a literature review and an academic case study, different business modelling approaches and techniques were systematically compared, selected and adjusted in order to develop a new framework suitable for describing the value of Digital Twins. It consists of 10 steps – (1) describe a basic development concept of the DT, (2) identify the customer segments, needs and pain points, (3) derive a value proposition (4) identify revenue streams and values created, (5) identify key activities, (6) resources needed, and (7) necessary partners. (8) Adapt the organization to fit the business model and (9) evaluate the cost structure of the project. In the end, document and communicate the new business model (10). Each step is supported by auxiliary methods, tools and procedures. The approach was applied to a scientific case study. In an initial evaluation the overall applicability and usefulness of the approach were confirmed.

Purpose – The paper aims to demonstrate how a business modeling approach can assist in finding a compromise between public actors (libraries) and private actors (book publishers).Design/methodology/approach – Information was gathered during a cycle of several group workshops with both public and private stakeholders, where conclusions on the structure and components of the most suitable business model were iteratively refined.Findings – Value networks with correctly defined business roles on different organisational layers were constructed for all involved private and public partners. The precise location and role of the Flemish E‐book Platform as a neutral broker between these stakeholders was described in detailed fashion.Research limitations/implications – The findings could be limited to the local situation of Flanders, where for example each city is forced by decree to invest in a local public library. The relatively small size of the Dutch language area and its associated book publishing industry mi...

The emergence and growth of the Internet places IP central to the next generation network (NGN). MPLS has been the choice of technology to meet requirements in NGN. Now service providers are looking for clear economic drivers for moving to MPLS and faced with the challenge of selecting the most cost-effective solution from a number of available MPLS evolution scenarios. This work presents a network and business modelling approach and a case study to quantify the value propositions of three evolution scenarios to NGN. For this, we develop detailed and flexible network models, design and configurations to replicate various architectures, scaling patterns and possible migration steps in a variety of large networks. This is integrated with business modelling to analyze and compare cost-effectiveness of the evolution scenarios by quantifying their capital expenditures (CapEx), operational expenses (OpEx), and new sources of revenue (e.g., IP VPN) made possible by MPLS. The case study shows the converged MPLS core solution has significant financial advantages over the present operation (without MPLS) and the overlay MPLS solution. Results of the sensitivity analysis given to CapEx and transport in the core show in Zone of Advantage charts when it makes economic sense to move to a converged MPLS core based on current total traffic, its mix of ATM and IP, and IP growth rate. Of particular importance to this analysis is the detailed modeling and quantification of the cost/benefits of operating support systems (OSS), which proves the distinct advantage (operational savings) of an advanced, integrated OSS infrastructure to the converged MPLS solution.

One of the strengths of the balanced scorecard approach is the ability to link strategic goals with operational performance measures. But many adopters discover that while they understand the conceptual linkage between operational performance measures and strategic goals, they lack a structure to guide their efforts. This article illustrates the use of a technique—loosely based on quality management principles—that permits managers to articulate their strategic vision in the form of a process‐oriented business model. A banking institution is used to illustrate the business modeling approach to balanced scorecard development and implementation. © 2004 Wiley Periodicals, Inc.

In telemedicine, technology is used to deliver services. Because of this, it is expected that various actors other than those involved in traditional care are involved in and need to cooperate, to deliver these services. The aim of this study was to establish a clear understanding of these actors and their roles and interrelationships in the delivery of telemedicine. A video teleconsultation service is used as a study case. A business modeling approach as described in the Freeband Business Blueprint Method was used. The method brings together the four domains that make up a business model, that is, service, technology, organization, and finance, and covers the integration of these domains. The method uses several multidisciplinary workshops, addressing each of the four domains. Results of the four domains addressed showed that (1) the video teleconsultation service is a store and put-forward video teleconsult for healthcare providers. The service is accepted and has added value for the quality of care. However, the market is small; (2) the technology consists of a secured Internet Web-based application, standard personal computer, broadband Internet connection, and a digital camera; (3) a new role and probably entity, responsible for delivering the integrated service to the healthcare professionals, was identified; and finally (4) financial reimbursement for the service delivery is expected to be most successful when set up through healthcare insurance companies. Pricing needs to account for the fee of healthcare professionals as well as for technical aspects, education, and future innovation. Implementation of the video teleconsult service requires multidisciplinary cooperation and integration. Challenging aspects are the small market size and the slow implementation speed, among others. This supports the argument that accumulation of several telemedicine applications is necessary to make it financially feasible for at least some of the actors.

Conceptual and logical levels form the top most levels of database modeling. Usually, ORM (Object Role Modeling) and ER diagrams are utilized to capture the corresponding schema. The final aim of business process modeling is to store its results in the form of database solution. For this reason, value oriented business process modeling which utilizes ER diagram to express the modeling entities and relationships between them are used. However, ER diagrams form the logical level of database schema. To extend possibilities of different business process modeling methodologies, the conceptual level of database modeling is needed. The paper deals with the REA value modeling approach to business process modeling using ER-diagrams, and derives conceptual model utilizing ORM modeling approach. Conceptual model extends possibilities for value modeling to other business modeling approaches.

Optimising flight training complex commercial activity: business modelling approach

Introduction. Executive Chapter Summaries. CHAPTER 1: Estimating Default Probabilities Implicit in Equity Prices (Tibor Janosi, Robert Jarrow, and Yildiray Yildirim). Introduction. The Model Structure. Description of the Data. Estimation of the State Variable Process Parameters. Equity Return Estimation. Analysis of the Time Series Properties of the Parameters. Analysis of Fama--French Four--Factor Model with No Default. Analysis of a Bubble Component (P/E ratio) in Stock Prices. Analysis of the Default Intensity. Relative Performance of the Equity Return Models. Comparison of Default Intensities Based on Debt versus Equity. Conclusions. Notes. References. Appendix. CHAPTER 2: Predictions of Default Probabilities in Structural Models of Debt (Hayne E. Leland). Introduction. Recent Empirical Studies. Structural Models and Default Risk. The Default Boundary in Exogenous and Endogenous Cases. The Default Probability with Constant Default Barrier. Calibration of Models: The Base Case. Matching Empirical Default Frequencies with the L--T Model. Matching Empirical DPS with the L--S Model. The Moody's--KMV Approach. Some Preliminary Thoughts on the Relationship Between the KMV Approach and L--S/L--T. Conclusions. Acknowledgments. Postscript. Appendix. Notes. References. CHAPTER 3: Survey of the Recent Literature: Recovery Risk (Sanjiv R. Das). Introduction. Empirical Attributes. Recovery Conventions. Recovery in Structural Models. Recovery in Reduced--Form Models. Measure Transformations. Summary and Speculation. References. CHAPTER 4: Non--Parametric Analysis of Rating Transition and Default Data (Peter Fledelius, David Lando, and Jens Perch Nielsen). Introduction. Data and Outline of Methodology. Estimating Transition Intensities in Two Dimensions. One--Dimensional Hazards and Marginal Integration. Confidence Intervals. Transitions: Dependence on Previous Move and Duration. Multiplicative Intensities. Concluding Remarks. Acknowledgments. Notes. References. CHAPTER 5: Valuing High--Yield Bonds: A Business Modeling Approach (Thomas S. Y. Ho and Sang Bin Lee). Introduction. Specification of the Model. A Numerical Illustration. Empirical Evidence. Implications of the Model. Conclusions. Acknowledgments. Appendix. Notes. References. CHAPTER 6: Structural versus Reduced--Form Models: A New Information--Based Perspective (Robert A. Jarrow and Philip Protter). Introduction. The Setup. Structural Models. Reduced--Form Models. A Mathematical Overview. Observable Information Sets. Conclusion. Acknowledgment. Notes. References. CHAPTER 7: Reduced--Form versus Structural Models of Credit Risk: A Case Study of Three Models (Navneet Arora, Jeffrey R. Bohn, and Fanlin Zhu). Introduction. Merton, Vasicek--Kealhofer, and Hull--White Models. Data and Empirical Methodology. Results. Conclusion. Acknowledgments. Notes. References. CHAPTER 8: Implications of Correlated Default for Portfolio Allocation to Corporate Bonds (Mark B. Wise and Vineer Bhansali). Introduction. A Model for Default. The Portfolio Problem. Sample Portfolios with Zero Recovery Fractions. Sample Portfolios with Nonzero Recovery Fractions. Concluding Remarks. Acknowledgments. Notes. References. CHAPTER 9: Correlated Default Processes: A Criterion--Based Copula Approach (Sanjiv R. Das and Gary Geng). Introduction. Description of the Data. Copulas and Features of the Data. Determining the Joint Default Process. Simulating Correlated Defaults and Model Comparisons. Discussion. Acknowledgments. Appendix: The Skewed Double Exponential Distribution. Notes. References. Index.