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Business Functions - Coggle Diagram
Business Functions
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Business Model Canvas
strategy plan how it creates, delivers and captures value for stakeholders
fundamental functions of a business with a key focus on the interdependence between the nine building blocks and the necessary flows between them
created by Osterwalder & Pigneur, 2010
DaSilva & Trkman (2014)
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- Choosing the right business model (selecting the right combination of resources and associated transactions) for the present circumstances.
- Executing their business model in an excellent manner.
- Continually developing and strengthening company’s dynamic capabilities and innovating as competitors emerge.
- Being able to effectively and timely modify their business model when an opportunity or threat arises
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4 basic main functions
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Finance
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HR costs eg- payroll, super, tax
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HR
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recruitment, onbaording, training etc
record keeping eg= personal details, leave, quals
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Characteristics
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cannot operate in isolation, closely interrelated
as orgs get bigger, additional functions needed
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outsource functions eg- payroll, recruitment