Business Model Assignment: Getswift Limited Operations
Task Description: To be completed individually, you are required to prepare a business report that deconstructs an organisation's business model and identifies the critical success factors that make the business sustainable. To undertake this analysis you will need to explore different business models, including those that are frequently seen to achieve sustainable success and high levels of profitability. Your analysis will demonstrate your critical thinking skills and your ability to professionally articulate your findings. Before commencing, you must seek your lecturer's approval to undertake an analysis of the business you have chosen.
The type of organisation that should be identified for study is one that is relatively new, innovative in how they operate, and have most likely been established in the last five years. No students will be allowed to examine the same business. While the assignment is an individual one, you are encouraged to discuss with your colleagues the variety of business models that have become popular and why you think they have been successful. To achieve a result that meets your study objectives, please ensure the business report addresses each of the assessment criteria detailed below and which is elaborated in the marking rubric.
Executive Summary: This business model assignment contains the background and objectives of the concerned organization, GetSwift. It provides information in relation to the business model and operations of the company. The business model is lucidly explained to enable the users to have a complete understanding of the elements of the model and their significance. Further, this Business Model Assignment reflects information in regards to the nine building blocks and their interrelationships in the execution of the business operations. The risks involved in the business and changes needed in the operations are suggested in order to enhance the productivity and reduction of the concerned risks.
I. Introduction: Joel MacDonald who is the present MD, President and Director of the company founded the company, GetSwift, in the year 2015. GetSwift is based in Carlton, Australia. The current Chief Executive Officer and the Executive Director of the company is Bane Hunter. It is technological company providing its clients a secured cloud-based SaaS platform for the deliveries involved in businesses in Australia and abroad. GetSwift at 2015 received an angel investment of 675,000 dollars to expand its operations across Asia and the US (Dominic and Emma, 2018). It has an international clientele at present delivering exceptional assistance in tracking deliveries across the globe through the advanced logistics software. GetSwift is an early-stage expanding company is achieving fast growth since its inception. The business users are provided with services relating business delivery/complex online logistics tracking and management through the technologically advanced software and applications developed by the company. The software developed by the company allows the clients to place delivery bookings through their own white labeled forms of booking. The digital signatures, photos and delivery notes can be captured through the software’s driver application for the delivery proofs that are required by the clients and other parties involved. The company offers facilities such as optimization at the real time route and delivery with end-to-end tracking. In this Business Model Assignment detailed analysis is done to understand the significance of the business model in Get Swift.
II. Business Model
The business model of the software company GetSwift is based on structure that allows the customers to get the current data and information regarding their dispatches and deliveries of the goods or services relating to logistics applications. It helps the businesses around the globe to reach out to their customers and provide them with the information regarding deliveries that are required by them. The receiving customers are connected through a three-way channel directly with delivery drivers and the GetSwift clients. The delivery drivers of the software communicate with the clients who can communicate with the customers and vice versa through the interlinked channels. The physical deliveries are made from the delivery drivers to the receiving customers. Both the parties can communicate with each other and exchange real time information through the optimized dispatching and routing facilities offered by Getswift. The customers enjoy the benefits of live updates (GetSwift, 2018).
A. Building Blocks The nine building blocks mentioned in the following list describe the factors and elements that help in the sustenance of the business operations of the company.
1. Customer segments: GetSwift targets the businesses that are involved in delivery and logistics and need optimized solution to be able to communicate and share information of the sending and receiving process. Some of the clients of the company are Lion Nathan, Just Eat, Harris Farm Markets, Little Caesars, and Phillip Morris International.
2. Key partners: The company, GetSwift has some valuable associates such Amazon and YUM! Foods in Australia. The partners help the business to receive projects and work in order to sustain the existence (GetSwift, 2018).
3. Value proposition: The value proposition of GetSwift’s work is to generate the delivery and routing information and provide real time tracking services to the clients and the end customers (Mahmoudi, 2018). This helps in satisfying the customer and clients needs by providing global logistics solutions.
4. Key activities:
- Providing Logistics management software
- Delivering applications for global delivery segments
- Providing last mile delivery management services
- Tracking of orders on a real time basis
5. Channels: The company delivers it services through the websites and applications delivering live status updates and other relevant information.
6. Revenue streams: The revenue stream of the company has been approximately 15 million dollars in the last 4 years that can be interpreted as 3.75 million dollar in any quarter. This is the result of the increased of the deliveries, which the company has been able to support. The market capital of the software company was 40 million dollars in the year 2016 (GetSwift, 2018).
7. Cost structure: The major part of the costs incurred by the company in the performance of its business is towards the development and maintenance of the technologically advanced software and the research needed to help in improving its applications (Hair et al., 2015).
8. Key resources: The key resources for the company are the website, integration and management systems, advanced technological applications and proprietary algorithms.
9. Customer relationships: The customer relationships are maintained through the internet platform and mailing services where the customers can get in direct touch with the responsible part of the logistic chain in any case of a query. The customers interact freely with the provided options that help in creating better customer relations.
The company’s activities and the value propositions have been able to provide the clients with exceptional services and satisfaction. The key partners have helped the company to get business and generate revenue that further helps in improving the functions of the company and the technology and resources involved. The software and the adoption of the latest technologically in its optimization and improvement has been able to support the software company in attracting customers through its seamless services (Riggins & Wamba, 2015). It helps creating an effective link between the clients and their customers through its value added services.
C. Critical success factors
The unique idea of creating technologically advanced delivery information providing Software Company has resulted in a success. The optimized services of automated dispatching and assigning of tasks helped the clients to streamlining their operations (Tao & Qiu, 2015). This helped them to earn to a good brand name in the logistics and delivery sector. The dispatch software makes it easy for the clients to reduce costs of manually arranging the task. The route optimization offered by the company helps the clients reduce fuel costs as well as save time. The unconditional support provided to the clients to help them make their customers have a white labeled experience in their delivery and logistics related operations with the help of the advanced technology has also made the software company popular amongst clients. The other simplified services that the company has been able to provide the client base hold great value.
D. Downside risks
The risks involved are the technical interruptions and delays that can cause malfunctioning of the services offered. It can raise an issue regarding the clients and customers not being able to receive the required services. The in-house software application at times cannot be updated or reorganized leading to related crisis in the operations. It forces the users to work on the latest versions of the software even if any update is needed to be deferred. The security and data concerns are increased in the cloud based operations (Rittinghouse & Ransome, 2016). The management of unauthorized access and data privacy needs strengthening in order to protect the business against unwanted intrusions. SaaS operations suffer from slow speeds as compared to on-client or server applications. This can cause delays and performance slowdowns. SaaS has become popular at present but still does not support many applications that are need in improving the services offered by the business (Botta et al., 2016).
E. Business Model Changes
The changes in the business model that can be implemented to improve the productivity are listed below:
- Better research and development activities relating to client behavior and expectations
- A better platform than SaaS can be developed in order reduce the risks of slow performances and incorporation of various other applications that are not supported by it but can prove to be of great use to the business.
- Creating a data backup system other than the cloud based system since it depends totally on the internet service and raises concerns over data privacy and unauthorized intrusions.
The Business Model Assignment has been able to provide overall insights of the selected business organization, GetSwift. Its details and history has been delivered with valid references. This Business Model Assignment contains the description of the business it performs along with the markets it serves and the services provided by it. The business model of the concerned organization is expressed in a lucid manner along with the nine building blocks of the business and their relevant explanations. The interrelationship between the building blocks of the business as well as the factors contributing to its success is reflected clearly. The company needed some changes that have been highlighted along with the risks involved its operations. The report and the data it reflects will prove to be of great value to the users. This Business Model Assignment is being prepared by management assignment help experts from top universities which ensure we provide reliable service.