Deconstructing Success Factors Of The Uptake Business Model
Task: 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. 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.
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.
The business model of Uptake deconstructs the process that is based on the process of changing the different components of a business model that is being followed by an organisation in order to bring in innovation in the company’s operations system. The alerting for business model is based on changing the components to ensure the integrity of value creating dimension is the business based on the perspective of the customers by adhering to the current resources that are available to the business. The given report is focused on understanding the business model of Uptake to bring in more productivity through innovation approaches present in the respective industry of the company.
Description of the business model of Uptake
The business model of Uptake analysese the companies artificial intelligence and software software company, which is based on the development of digital strategies that aims in developing effective transformation of the client organizations through the purpose-built software for the organisations (Wilson & Daugherty, 2018). The Uptake business model focuses on the services based on data science and machine learning process adhering to the policies and regulations to be presented for a private based company. Uptake provides its services to different companies globally irrespective of the industry type and business structure. Brad Keywell and Eric Lefkofsky founded the company in the year 2014. At present, the company is employing around four hundred employees in the company.
Operating industry and market
The company Uptake is operating in the software industry that is based on the development, maintenance and her publication of the softwares for different organisations that are based on different business models. This business model of Uptake reviews the company which has a estimated value of $2.3 billion as per the PitchBook records. The company is currently earning revenue of around $100 million that can be estimated that each employee in the organisations is developing an estimated amount of $228.8K. At present, the company is facing competition from companies like Predikto, Konux and Opex Analytics. The company has been awarded the best new start-up in the headquarters location of the company Chicago.
Products and services
This business model of Uptake focuses on providing effective services that are based on Artificial intelligence usage leading to the provision of digital transformation services, implementation services, solution, design and development based services, enhancing the success of the customers of the company, management services and education services at the same time. Based on the different applications that have been developed by the company Uptake, there are several services and products provisioned by the company. These are product of the client company; the core product involves Asset Performance Library (ASL) software, which allows effective accessing capability to gain knowledge on the domain of the customer company and gives effective guidance to ensure the prevention of failure from the operational processes used in the client company (Zhong, Xu, Klotz & Newman, 2017).
Uptake business model is based on Osterwalder &Pigneur’s canvas
Osterwalder &Pigneur’s has proposed a Uptake business model canvas that help in the understanding of the nine building blocks on the business model of Uptake taking in to consideration the key operational components essential to be present in the organizations. The company Uptake can undergo the business model canvas by effective explanation for the different requirements to be stated based on strategic management process and the lean start-up template for new companies as such (Joyce & Paquin, 2016). The nine components of the business model are categorized into four categories, which are infrastructure, offering, finances and customers (Goldfarb & Trefler, 2018).
The infrastructure category refers to the key components that are:
Key activities: using the business model of Uptake results in effective maintainance of construction equipment value, predictive diagnostics, which helps in incorporating the SaaS platform in order to assist the client organisations for product improvement, maintaining reliability and the safety of the organisations through suitable application development.
Key resources: the key resources identified on the Uptake business model are based on the hardware materials and softwares, which helps in the development of application based on the usage of data science and machine languages. The core resource of the company is Artificial intelligence software (Eisenberg, Heine & Phan, 2016).
Key partners: the key partners discussed on the business model of Uptake include AWS, Geotab, kespry, Accenture, J.D. Power, Element, FogHorn, Darktrace, DTN, AccuWeather, Genscape, Microland and Jitterbit.
The offering category refers to the value proposition that is present in the company.
Value proposition: the company Uptake has the ability to provide Artificial Intelligence software solution to all companies irrespective of the industry in which the organizations are operating. These are based on failure prediction, recommendations; Noise filtering, data integrity, image analytics, dynamic rules, anomaly detection and fuel management services (Dudin, Kucuri, Fedorova, Dzusova & Namitulina, 2015).
The customer category refers to components, which are:
Customer segments: the target customer base identified on the business model of Uptake are not defined, as the company is capable of providing innovation solution to all organizations ranging from small to large multinational companies operating with several chains globally.
Channels: on the Uptake business model the firm does not use any third party channels in order to distribute the products that have been devised by the organizations as a solution to the other companies. The distribution is carried out by retail shops presented by the companies and the key partners of the organization (Franco-Santos, 2016).
Customer relationship: Using the Uptake business model ensures effective relationship maintained with the client organizations through effective assistance that has been provided by the company. The company aims in giving personal assistance, and through automated services that connects with the customer by using customer service stations.
The finance category refers to the following:
Cost structure: the cost structure that has been attained as per the business model of Uptake and focused on cost and value driven. The focus of the company is to provide productivity based on optimized processes and application to be used by the customers, so cost and value are the two most important aspects maintained by the organization (Toro-Jarrín, Ponce-Jaramillo & Güemes-Castorena, 2016).
Revenue streams: the company makes use of product selling, service usage provision and rentals given to the customers. (Refer to Appendix attached)
Key interrelationships identified on the Uptake business model
The nine building blocks of the business model of Uptake identified above, focuses on the development of effective understanding of the different types of activities that have been taken into account by the organisations Uptake. It is important to note that the building block forms the key functions that are essential to be maintained in the organisations to develop a productive understanding of the overall organisational performance and success factors (Kaufmann et al, 2017). The components mentioned on the Uptake business model are highly effective in defining the key attributes of the company and define the uniqueness that is present in the company to define and maintain organisational development. This further helps the organisation to understand the strategies and the business model that has been attained to gain the objectives of the company based on the stated goals and values (Pedersen, Gwozdz & Hvass, 2018).
What are some Critical success factors of the Uptake business model?
In order to ensure that the company business model of Uptake is being able to maintain sustainable success in the software industry, there is the requirement for managing effective success factors, which are given as follows:
- Commitment to improvement: the company needs to ensure that the products and the services that are being saved by Uptake are based on the maintenance of innovation in the industry. The software industry is regularly updating itself based on the initiation in new technology based on data science and machine languages, which requires productivity improvement process to be maintained in the company (Mangla, Govindan & Luthra, 2016).
- Commitment to engagement: it is important for the Uptake business model to ensure that all the stakeholders of the company are being engaged in the organizational processes and decision making to build better and more productive strategies shaping the business model further.
- Commitment to leverage: the company needs to ensure that there is effective involvement of sustainable processes in all the areas of operations that are carried out using the business model of Uptake to ensure effective solutions are obtained for environmental and societal improvement (de Sousa Jabbour, Jabbour, Foropon & Godinho Filho, 2018).
Why Uptake business model Factors influence the businesses success?
Various factors are present that creates an impact on the success of the business model, some of which are given below:
- Globalization that causes high rate of competition
- Legacy system presented on the Uptake business model explore different countries which influences the regulations present in the customer companies further creating impact on the organizational norms that are being presented to the customers
- Human resource availability due to insufficient amount of expertise present
- Infrastructure issues to manage the operations of software industry (vom Brocke, Zelt & Schmiedel, 2016).
Changes to be made in the Uptake business model
Few changes can be made in the current business model of Uptake that has been presented in order to ensure that the organization is able to attain a higher level of success and development. Some of the changes are:
- There is the requirement of maintaining effective brand identity to ensure that different multinational companies are taking the services identified on the Uptake business model.
- To bring in advance promotional strategy in the company and focus on the marketing prospects more deliberately.
Thus, it is to be concluded that the Uptake business model has been effective in developing higher rate of productivity in a very short time span considering the business model that has been followed. It is important to note that the organisations is highly effective in delivering Artificial Intelligence software based services through product and service innovation carried out as per the customer requirements and needs identified on the business model of Uptake. Business model of Uptake, Uptake business model assignments are being prepared by our management assignment help experts from top universities which let us to provide you a reliable assignment help online service.
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