Overview of Gripit Fixings Ltd

Discuss About The Sustainable Business Model Research Practice.

The report helps in analysing the business canvas model of GRIPIT FIXINGS LTD that is based in Australia. The different strategies to mitigate the downside risk has to be identified and analysed as this will help in understanding the different issues that has to be identified effectively.

The main aim and purpose of the report is to identify the different kind of critical success factors for the business of the respective company as this will help in understanding the tactics that can be applied to gain excellence in the marketing. The different kind of changes has to be analysed effectively as this will help in understanding the key relationships within the nine building blocks of the respective company.

The structure of the report is to include various types of crucial success factors wherein this will help the company in understanding the different kind of activities that will be used to solve such issues as to gain the competitive advantage in an effective manner.

GRIPIT FIXINGS LTD is one of the Australian based plasterboard fixing organization wherein it is manufactured in Britain (“GripIt Fixings – GripIt Heavy Duty Plasterboard Fixings”, 2018). The ultimate fixing of the plasterboards in the entire world was launched in the entire market in the year 2012 and it helped in providing popular along with winning solution to the different kind of enduring problems. There were different kind of large stores along with DIYers wherein they used the simple method of wall hanging on the plasterboard as it was ease and comfortable in nature (Schaltegger, Hansen & Lüdeke-Freund, 2016).

There are different kind of services and products that are delivered by the respective organization to the different customers in the entire competitive market. The products and services are plasterboard fixings that will help in different kind of wall hangings and it helps in providing instant solution that is proper and perfect in nature (Dijkman et al., 2015). The plasterboard fixings help in providing high performance and convenience to their customers as well. The product is innovative in nature and it helps in solving the problems of the individuals as well (Carayannis, Sindakis & Walter, 2015).

Jordan Daykin is the Chief Executive Officer wherein he has different other employees in the finance, marketing and the human resource department who helps the company in gaining competitive advantage. The CEO of the respective company has secured over £80,000 investment and the fixings of Gripit was and exported the same to more than thirty-two countries (Aversa, Haefliger, Rossi & Baden-Fuller, 2015).

Key Partners, Activities, Resources, Proposition, Customer Segments, Relationships, Channels, Cost Structure, and Revenue Streams

Key Partner  Automotive companies who sell different kind of parts Material suppliers Manufactures of plasters	Key Activities  Develop the capability of manufacturing different kind of wall hanging Acquire the funding for the prototype Development for the large scale of the production of the different kind of wall hangings in offices, houses along with other places	Value Proposition  Maintain the expansive view It will help in decreasing the solar heat and make the curtain hanging effectively The cleaning will be done in an easy manner	Customer Relationships Act as the supplier and this will help in providing support from word of mouth Different kind of trade shows	Customer Segments  Automotive kind of OEMs and this includes the different part of the suppliers
Key Resources  Specialists of the manufacturing companies Process engineers Different kind of facilities of manufacturing	Channels  Module kind of sales to the different suppliers
Cost Structure ·          Labor that includes the assembly line engineers, workers and management ·         Materials that includes the suppliers of construction of the wall hanging with the help of the construction of the plasterboard fixings	Revenue Streams ·          Smart wall hanging panel that will help in making the tasks easier

Proper nine building blocks of BMC is essential in nature as this will help in understanding the different kind of importance of all the blocks in an effectual manner. BMC is the strategic management template that will help in developing new that will help in understanding the importance of nine building blocks effectively (Taran et al., 2015).

Firstly, the key partners help in portraying the different kind of network for the different cooperative agreements with the different companies. Furthermore, the key activities of the BMC wherein it helps in outlining the different kind of capabilities that is required as to run the business model of the respective company (Pyo & Ha, 2015).

The key resources of BMC help in describing the arrangement of the resources in an effective manner as this will help in solving the different issues and solve the issues in an effective manner as well (Joyce & Paquin, 2016). The value propositions help in providing overall bundle of the products and services in an effectual manner that helped in analysing the customer segments in appropriately. The distribution channels will help in describing the different kind of channels to communicate with different customers in an effectual manner (Pedersen, Gwozdz & Hvass, 2016).

The revenue and cost streams are essential in nature that helped the respective company in summing up different kind of consequences as to run the BMC in an effectual manner. it helped in understanding the different streams and other activities that helped in providing the process through which money is earned (Lüdeke-Freund & Dembek, 2017).

There are different kind of critical success factors as this will help the company in understanding the different strengths of the company effectively. The requirements of the customers have to be analysed in an effectual manner that will provide the different issues and solve them in an appropriate manner. the CSFs are as follows:

• The respective company needs to increase the market share with the help of the current target customers as this will help the company in gaining competitive advantage (Ghezzi et al., 2015)
• The company needs to understand the excellence of the company in nan appropriate manner that will help the company in understanding tastes and preferences of customers
• The company needs to achieve the fulfilment of the order excellence as this will help the entire organization along with understanding the future requirements (Dudin et al., 2015)
• Lastly, the company needs to fulfil the different needs of the customers by innovating the different other products that will help in increasing revenues and market share

There can be different kind of risks that has to be mitigated by the company as this can have huge impact on their business. The downside risks can impact the organization wherein this will have negative impact and the revenues and profit will fall in the future as well. The different kind of risks in GRIPIT FIXING Company are as follows:

• There can be interruption with business wherein the business has to be relocated and this can create huge risks for the company as well
• Secondly, there can be breach in security wherein there can be data theft and this can help the other company to use such data of the respective company and gain competitive advantage as well

• The respective company needs to map and plan a strategy that will help the company in overcoming such issues and determine the coverage levels as well
• Secondly, the proper backup and recovery plans has to be adopted by the respective company that will help them in the future to solve such issues with proper implementation of technologies

There are different kind of changes that is required to be adopted by the respective company if the entire business was mine. I would have implemented different advancement in the technology that would have helped me in expanding the scope wherein this would have helped in arranging the different kind of other hangings other than walls. I would have increased the revenue streams in an effectual manner wherein I would have implemented more key channels and partners with the help of analysis of the different competitors in the market.

Business Model Canvas

Conclusion

Therefore, it can be concluded that business canvas model is essential in nature as this has helped in understanding the relationship between the nine building blocks of the BMC of the respective company. However, there were different issues that has been faced by the company and strategies has been implemented to reduce the risk in an effectual manner. the enduring problems has been solved by the company by understanding the tastes and preferences of the customers in an appropriate manner. There were requirement of the changes that helped in understanding the scope of the project and solved them in an effectual manner.

References

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Carayannis, E. G., Sindakis, S., & Walter, C. (2015). Business model innovation as lever of organizational sustainability. The Journal of Technology Transfer, 40(1), 85-104.

Dijkman, R. M., Sprenkels, B., Peeters, T., & Janssen, A. (2015). Business models for the Internet of Things. International Journal of Information Management, 35(6), 672-678.

Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S., & Namitulina, A. (2015). The innovative business model canvas in the system of effective budgeting.

Ghezzi, A., Cavallaro, A., Rangone, A., & Balocco, R. (2015, April). A Comparative Study on the Impact of Business Model Design & Lean Startup Approach versus Traditional Business Plan on Mobile Startups Performance. In ICEIS (3) (pp. 196-203).

GripIt Fixings – GripIt Heavy Duty Plasterboard Fixings. (2018). Grip It Heavy Duty Plasterboard Fixings. Retrieved 25 March 2018, from https://www.gripitfixings.co.uk/

Joyce, A., & Paquin, R. L. (2016). The triple layered business model canvas: A tool to design more sustainable business models. Journal of Cleaner Production, 135, 1474-1486.

Lüdeke-Freund, F., & Dembek, K. (2017). Sustainable business model research and practice: management field or passing fancy?. Journal of Cleaner Production, 168, 1668-1678.

Pedersen, E. R. G., Gwozdz, W., & Hvass, K. K. (2016). Exploring the relationship between business model innovation, corporate sustainability, and organisational values within the fashion industry. Journal of Business Ethics, 1-18.

Schaltegger, S., Hansen, E. G., & Lüdeke-Freund, F. (2016). Business models for sustainability: Origins, present research, and future avenues.

Taran, Y., Nielsen, C., Thomsen, P., Montemari, M., & Paolone, F. (2015). Business Model Process Configurations: A Mapping Tool For Fostering Innovation. In R&P Management Conference (Vol. 11).

Pyo, W. J., & Ha, H. H. (2015). A Consulting Case Study on the Small Start-up through using the Business Model Canvas. The Journal of the Korea Contents Association, 15(10), 561-569.