Factors of Business Process Management †MyAssignmenthelp.com

Question: Discuss about the Factors of Business Process Management. Answer: Introduction Business canvas model is a structure that a particular established entity embodies in its system. It is an overview of what comprises the plans to be achieved and how to achieve them. This entails appropriate management and strategy in setting up the essential activities (Dudin et al, 2015). These activities relate to each other. This is an important part of businesses, old or new. This is a very good visual representation of initiatives which can be further utilized in discovery of other opportunities. This model has capability of inspiring fresh outlooks or viewpoints which ultimately lead to development of ideas on the relationships across different elements (Osterwalder Pigneur, 2013). The business canvas is vital in a number of ways. In business model innovation, the canvas model brings about focus. This leaves out the numerous notations in a business plan. It brings more clarity. It enhances transparency though having an easier comprehending the model. This model is also beneficial due to the ease in altering the model and trying other things. This flexibility is essential in changing perspectives (De Reuver et al, 2013). Clinicloud is a company based in Melbourne, Australia. The company was founded by Dr. Hon Weng Chong and De. Andrew Lin. The company began with the launch of the first Clinic cloud stethoscope which won the company awards and recognition worldwide. Their main mission being to avail medical devices and services that are accessible to anyone. These aspects are supported by suitable systems and technology. Clinicloud has two major products contained in a kit. These are a clinicloud stethoscope and thermometer. Both the devices are digitalized allowing the to access an application through a mobile network. The clinicloud stethoscope allows the user to check the heart rate and breathing patterns which can be stored. The clinicloud thermometer is a non-contact thermometer promoting hygiene and has very high accuracy. In the progressive world where the health physicians are limited in number compared to the people in need of health services. Therefore, the need of developing a way by which the public can be able to access affordable health care. The aged, children and people suffering from chronic illness created the need of a system and devices through which patients can monitor their health. The size of the market is expected to rise even further with growing demand for proper health care by the aging population. An additional reason is the rise in chronic and other diseases. In the short run, the market has limited potential growth which us caused by the pricing environment (Lo, 2015). Key partners Doctor on demand Tencent Astra Primary care associates Key Activities Electronic data capture Post-Marketing surveillance Adverse/event safety report Electronic-patient reported outcomes Value Proposition Customers can collect, record and report information by themselves. Manage and report adverse events. Manage and report information about safety. Latest technology adoption. User-friendly coding function Constructing/managing after sale research Data collection and coding module Facilities management Training information Companies notice Research progression Temporary data storage Patient data Trial design Decision-making Customer Relationship Provide high-performance, multi-functional and user-friendly systems Maintain partnership in the services Patient referral program Promote self-help and safety system Proficiency in technology use Customer Segments Patients Doctors/ Medical institutions Key Resources Technology Partnership development Clinical trials Channels Use of coding Software and applications Partnerships Cost Structure Technology costs Marketing costs Data collection Software development Partnership fees Administrative costs Revenue Streams Premium features Direct sales Contract agreements New technology (Kiel, 2014; Pigneur, 2013). Key Relationships Across all nine elements, there are vital connections that have exist. The key partners are important in the activities of the company. These partnerships are integral to their success in business. Clinicloud created a partnership with TENCENT a Chinese technology company. TENCENT also provided the starting capital. This relationship helps to ensure their technology is always up to date. The products and services of Clinicloud are utilized in medical institutions. This forms a key relationship which introduces the patients into the picture as the main beneficiaries. The relationship with technological firms makes it possible for ClinCloud to come up with their products and services. The key services provided are mainly concerned with electronic use which shows just how this relationship is vital. TENCENT partners play the same role. Key partners are directly impactful in the key activities of the company involved. Partnering with Doctors on Demand and Astra Primary Care Associates made it possible for the consumers of the clinicloud products and services to be able to get professional physician consultation from the collected health data. This partnership allows the consumers to be able to utilize other health resources after carrying and collecting the basic health data the selves. The relationship between companies and customers is core in business. There has to be vale brought to the customer by the company. In this case, the values that Clinicloud brings to the customer are diverse and they help solve customers problems. The value proposition displays the respective relationship with different customer segments. This relationship entails definition of which products or services are offered to which customer segment. Provision of products and services comes with expectations from customers. Customers expect the company to maintain a certain type of relationship with them. This relationship entails the performance factors that in this case Clinicloud is expected to maintain. Each customer segment has its own relationship that is established and maintained based on the services and products they receive (Plenter, 2017). Customer segments are crucial in business. Their relationship with the determine the range of impact the company has. This relationship is key as it also determines how they are integrated, how they fit within the model and their costs. Resources are key in any situation. Thus, the relationship between Clinicloud and key resources is directly involved in the success of the business. Networks and partnerships are key in the progress of Clinicloud. Cost structures and revenue streams are the other key relations. Costs structures entail what it takes to implement the initiatives of the organization. These are the investments which affect the level of revenue streams based on the feasibility of the business initiatives. This is a crucial relationship (Plenter, 2017). The business should maximize their market share with their current customers and then subsequently explore the market. This should solidify their customer base and sustainability. This should be followed by innovation and diversification of products and services which will ensure the business reaches a larger customer base in the future (Trkman, 2010). Clinicloud needs to have partnerships that are fulfilling. Going forward, partnerships are going to be more critical to the success of the company. They are very influential therefore the right associations should be built to ensure sustainability. The same applies to relationships with the customer segments. The right type of relationship should be instituted and maintained to increase the chances of success (Trkman, 2010). Being at the forefront of technological advancements is a point of emphasis in this case. As the world progresses, the business will need to be keen on technological developments. For sustainability to be imminent, this progress is necessary. Training programs are important ways to develop talent from within. Creating a good training program will bring about skill development which will pour into the business more innovativeness. Such programs will foster proficiency in the current system and further inspire creativity to improve the business model and systems (Omri, Frikha Bouraoui, 2015). Apart from training, research and development is very critical factor. This lead to development of new products and services or improvement of the existing ones. Research and development is a core aspect of many prominent businesses. It is a crucial step in ensuing sustainability of a business (Vilkinas, Cartan Saebel, 2011). Competition always brings about major risks. The medical health sector has many players involved and they all have varying qualities. Competition means than an entity benefits at the expense of another. The development of an idea could be the difference between success and risk. A single innovation can propel the competition ahead of Clinicloud in the same sector they major in. When the competition has products and services relatable in likeness and quality to those of Clinicloud, their returns are bound to decrease at some point. Economic times cause volatility in business. When the conditions are poor, businesses get hurt and they dont get to see their return on investment (Trkman, 2010). At times, specific sectors are hit with testing times. An issue affecting medical health sector will present a risk to the business of Clinicloud. Changes can be made by acquiring more high value customers. This is not a change a such but an improvement. These are customers are easy to locate, can generate adequate business and are accepting to the pricing. This type of customers is quite reliable. A change would be offer value to customer segments. This added value is essential in gaining competitive advantage. This could be done through offering wider range of products, features and benefits, lower pricing in some circumstances or faster services. An additional change is introduction of a future-oriented feature in the model. This part will be responsible in assessment of status of industry market and direction of developments which should help keep the company ahead (Carayannis, Sindakis Walter, 2015). References Dudin, M., Kucuri, G., Fedorova, I., Dzusova, S., Namitulina, A. (2015). The innovative business model canvas in the system of effective budgeting. De Reuver, M., Bouwman, H., Haaker, T. (2013). Business model roadmapping: A practical approach to come from an existing to a desired business model.International Journal of Innovation Management,17(01), 1340006. Osterwalder, A., Pigneur, Y. (2013). Designing business models and similar strategic objects: the contribution of IS.Journal of the Association for information systems,14(5), 237. Clinicloud. (2018). Clinicloud. Retrieved from https://clinicloud.com/ Kiel, I. H. (2014). Entrepreneurial marketing. Pigneur, Y. (2013).Business model generation. Wiley. Vilkinas, T., Cartan, G., Saebel, J. (2011). Business success factors. Omri, A., Frikha, M. A., Bouraoui, M. A. (2015). An empirical investigation of factors affecting small business success.Journal of Management Development,34(9), 1073 -1093. Trkman, P. (2010). The critical success factors of business process management.International journal of information management,30(2), 125-134. 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. Plenter, F., Fielt, E., Hoffen, M., Chasin, F., Rosemann, M. (2017). Repainting the business model canvas for peer-to-peer sharing and collaborative consumption.