In every organization, a theoretical concept is followed by the business to capture, create and deliver values among the stakeholders in the context of social, cultural and economic practices. In this entire framework different factor of the internal and external activities of the business such as strategies, target customers, organizational structure, offerings, trading practice, sourcing, and the cultural policies are considered to fulfill the aim of a business performed by the organization. According to Schneider and Spieth (2013), the business model helps to regulate the systematic practice principle development to access all the strategic practices for organizational stability. The value proposition, value network articulation, and value architecture are typically oriented by a business model to fulfill the moral tasks of business belongs from a different industry. Markides (2013), stated that regarding business model different concepts are considered among those e-business archetypes, business model as activity system and business model as cost/ revenue architecture are potential to define the characteristics and function of the business model in a wide context.
At present, in their busy schedule, customers like to purchase over e-commerce practices. Thus, the business organization performing e-commerce regulation follows the e-business model archetypes followed by different elements. As per the concept of Kastalli and Van Looy (2013), trade, service, product, marketplace, brokerage, subscription, and ecosystem is controlled by e-business model. However, the primary archetypes play a very major role in which products and its availability and affordability, as well as quality, induce a business policy development. On the other hand, demand for the product also regulated by a business model that influences the profitability of an organization to fulfill its aim. In this context, Casadesus‐Masanell and Zhu (2013), stated that the product of the organization meets up tangible solution of a business model. Further, a custom solution is completed via service which is also a major practice of e-business by the updated features of the products and on time delivery along with the smooth payment method. Bohnsack et al. (2014), stated that customer service in a 24X7 availability increase the image of the business that allows a customer to remain loyal towards the brand. Due to the selling process without visualization and feeling of the product quality directly return policy is also included in the service which is a significant offer by the e-business model. Trade helps to connect the seller with the buyers to complete the flow of the business and satisfy both parties.
The elements of the three different business model archetypes help to recognize the issues by the application of its theoretical features. Markides (2013), stated that the theoretical concept of any business model based on different factors allows comparing the general and possible result and the real outcome to identify the significance of the current response. Dynamic problem is a very common complication in a business practice in which customer and employee dealing, production and raw materials and availability of the products in the market. Consumer demand also depends on these factors which are regulated by the application of the e-business model, system activity and cost/ revenue archetypes. Regular observation over those issues and normal activities proper steps are considered followed by the theoretical application of the models and its elements to fulfill the change in action compatible with the current situation. Schneider and Spieth (2013), commented that dynamic issues can be prevented entirely, however, the static issues are unable to be erased from the business practice system. Competition in the market and buying behavior of the customers are required to be regulated all the time length of a business by applying the existing strategies. Follow up and regular modification of the strategies to deal with the static issue helps to get a positive result from a business. The business model is redesigned as per the requirement of the organization and its pattern of activity and structure. Hence, through strategic and evidence-based or assumptive framework steps are taken to perform a business model change activity to increase the value of the organization in the competitive market.
According to Bocken et al. (2014), business notion or context is the field of a business which comes with a dynamic change of the environment. Therefore, change in the business strategy, principle and performance are required in every section of the activities to influence and maintain the viability of a business in the market. Time changes the taste and need of the stakeholders. In order to consider those factors, the regulation of the business context from every aspect is a requirement to resolve the issue. It helps to retain attraction towards the market of the organization for ultimate customer loyalty. As an example it has been observed that Sainsbury’s the MNC retail shop has increased its technological and value chain practices by developing different wings such as restaurants, money vending system, and petrol pump. Such an initiative of the organization is a result of the application of the business model. People are looking for a variety of service under the same roof, therefore; an initiative of Sainsbury’s not only is a practice of effective business model utilization but also upgrades the cities of future by serving by not only serving not only through their store but also the online retailing.
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