Abell’s Three-dimensional Business-definition Model
In recent years, there has been a renewed interest in using three-dimensional business models. These models allow businesses to better understand their customers and potential partners, and to make more informed decisions about their operations. One such model is the Abell S three-dimensional business-definition model.
The Abell S model was developed by Dr. Abell and his team at the Abell Institute for Management Development in Sweden. The model is based on the idea that businesses are composed of three core elements: customers, resources, and systems. Each of these elements can be thought of as a three-dimensional object.
The goal of the Abell S model is to help businesses learn about their environment and how it affects their ability to
Table of Contents
Abell's business definition explained
[ytvideo]
Defining your business
First and foremost, your business is a collection of activities and responsibilities undertaken in order to generate revenue and satisfy customer needs. Broadly speaking, your business can be broken down into three main categories:
- Product
- Process
- Service
Each of these categories is more specific and detailed, so let’s take a closer look at each.
Product
Your product is the physical manifestation of your business. It’s what you sell, and it’s what you hope to make money off of. It can be anything from a product to a service.Process
Your process is how you go about producing the product. It includes everything from the production line to the customer service line. It’s the system you put in place to make the product.Service
Your service is the final step in the production process. It’s what the customer interacts with, and it’s what you hope to keep them happy. It can be anything from a haircut to a website.Now that we’ve covered the basics of your business, let’s take a look at some key elements.
Your Key Elements
Your key elements are the things that make your business tick. They’re the things that you need in order to generate revenue and satisfy customer needs.
Your product
Your product is the physical manifestation of your business. It’s what you sell, and it’s what you hope to make money off of. It can be anything
The three dimensions of business
- Business Definition
- Business Objectives
- Business Strategies
- Business Definition
There is no one universal definition of business. However, business typically refers to an institution, organization or company that engages in the production of goods and services for consumers. It can be a public or private enterprise, and can be operated for profit or non-profit purposes.
At its most basic level, a business is a collection of people who come together to produce something of value for others. This could be a company, an organization, or a collection of individuals. The people who work in a business are called employees, and the company or organization they work for is called their employer.
A business is made up of a number of elements, including a business definition, business objectives, business strategies and business policies.
- Business Objectives
Business objectives are the goals that a business seeks to achieve. They can be short-term or long-term, and they can be specific or general. They can also be ambitious or modest, and they can change over time.
Some common business objectives are to make profit, to increase sales, to reduce costs, to achieve customer satisfaction, and to increase shareholder value.
- Business Strategies
Business strategies are the methods that a business uses to achieve its objectives. They can be direct or indirect, and they can be physical or financial.
Some common business
Abell’s model
Abell’s business-definition model is a three-dimensional model that helps to understand the different aspects of a company. It distinguishes between business functions, business entities and business strategies.
The model is composed of three axes: the vertical axis represents business functions, the horizontal axis represents business entities, and the vertical axis again represents business strategies.
A business function is a specific activity that a business does. For example, a company may have a business function of manufacturing products.
A business entity is a group of business functions that are operated as a single entity. For example, a company may have two business entities: a manufacturing business and a sales business.
A business strategy is a plan or set of plans that a business uses to achieve its goals. For example, a business might have a business strategy of becoming the largest company in its sector.
What this model can do for you
This model can help you define your business in a clear and concise way, ensuring that your customers, employees and shareholders can all understand what you do. This can help you to focus on your key strengths and reduce any unnecessary overlap in your business activity.
How to use Abell’s model
The Abell s three-dimensional business-definition model is a comprehensive way of understanding and describing the workings of a company or organization. It is divided into five sections: the Context, the Structure, the Process, the People, and the Environment.
The Context section describes the company or organization’s environment and its relationship to other companies or organizations. For example, a company that manufactures car parts might have to compete with other companies that produce similar products, and the Context section would describe the competitive environment in which the company operates.
The Structure section describes the company’s physical structure, including the locations of its facilities and the types of products it manufactures.
The Process section describes the methods used to produce products and the procedures used to carry out the company’s business operations.
The People section describes the employees and their roles in the company.
The Environment section describes the laws and regulations that affect the company, the climate in which it operates, and the economic conditions in which it operates.
Conclusion
The three-dimensional business-definition model presented in this article is an effective tool for understanding and managing a company’s operations. By understanding the company’s business segments and their respective roles in the overall operation, managers can make better decisions about where to allocate resources and focus their efforts.
