1: business model is essentially is a plan for a company to make a profit. Business Models are important for both existing and new businesses. For this weeks discussion of household/ personal items we will talk about Frigidaire appliances. For years Frigidaire has been one of the top producers for appliances. They have always put forth the effort to continue to upgrade their designs to keep consumers happy and for them to continue to upgrade their appliances. With technology these days they’re able to keep adding features to each appliance to catch the eyes of the consumers. Appliances aren’t going anywhere anytime soon, so with the different features it gives them the opportunity to continue to keep making money and even more profit to the company
For this week discussion I am looking at automobile. According to Blog The Ride of MaaS and Other Automaker Business Model “As the new automotive technology and service components merge, we see the rise of three distinct business models: manufacturing, fleet development and premium private ownership.” (Eichenberg, 2020) With the rise of new technology and vehicle advancing they are looking at how to keep manufacturing the same speed and quality of the vehicle staying the same and improvement. For automobiles industries not wanting to improve their company without looking at the new trends and new technology they will slowly go out of business because of technology advancing and customers wanting to go towards electric. According to BCG How to Profit in Tomorrow’s Automotive and Mobile Industry “We recently developed a comprehensive model to analyze these shifts and how they will affect value pools in the global automotive and mobility industry between now and 2035. ” (2023) They are looking at what future is bringing and how to advance the company so they can keep up with the times and keep selling vehicles to customers with new technology and better vehicles for the future. While still trying to make a profit on the vehicles they are selling, while they are prepping for what the future of automotive industry.
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