• Internal Code :
  • Subject Code :
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  • Subject Name : Management

Benefits, Barriers and Culture

Description of Business Product:

The main aim of the business product is to develop a textbook exchange service which will help the students in the universities who need assistance for the books and will not have to buy new ones. According to Merga & Mason (2020), the cost of purchasing textbooks almost every year is averaged to be around $1,089. The aim for this is basically to provide a reasonable and affordable way which can help the students to buy and sell the textbooks which will assist in creating a system to match the students along with the books that they are looking for. This will be made in such a way that the students will have a working app inside the university where they will be given with this network to facilitate the textbooks.

This is a radical innovation as there are not a lot of business models that exist in such a way for the students. There are traditional shops which offer and gives this service but not a lot of them, so eventually, the students will have to purchase the books and then let all of that stuff borrow it to someone else for a lesser price. However, this will make sure that the students are getting the best of the services at a great price.

PESTLE Analysis

Political

Restricted Internet in some countries

Economical

Affordability

High Initial cost for buying books

Social

The advent of making the app and this sociocultural education lacks in human interaction

Daycare needs for the minors

Technological

Access to electronic devices

Legal

Cooperation from the different publishers

Environmental

Change in energy consumption

Decrease in paper waste

Venture Typology

As per the innovation matrix, the business model is somewhat related to that of the semi-radical as this will revolutionise the traditional processes of innovation. There also will be sustainment in the innovation for the sustaining innovations and will radically increase the sales among the students.

Innovation Matrix

Breakthrough Innovation

Sustaining Innovation

Basic Research

Disruptive Innovation

References for Parental Support of Reading

Merga, M. K., & Mason, S. (2020). Parental support of reading at home in Australia and Japan: Benefits, barriers and culture. The Bloomsbury Handbook of Reading Perspectives and Practices, 131.

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