ASSESSMENT 3 Term 3 (Case study essay)  Word limitation: 1400_1600 words  References: 20 academic journals (American Psychological Association (APA))  You should use headings and sub-headings to divide and clarify each parts from the other  You need to focus on the given case studies and identify one article, two or all three if you want.  You can use to main text-book to develop your understanding about each concept 1. Business Model Generation written by Osterwalder, A. & Pigneur, Y, 2010 Publisher: John Wiley and Sons 2. Managing Innovation: Integrating Technological, Market and Organizational Change written by Tidd, J & Bessant, J, 2013, 5th edn revised Publisher: John Wiley and Sons Objectives: The aim of the assessment 3 (essay) is to improve the understanding of the business model as a concept and how a theoretical understanding of this business models can be utilized to describe value appropriation, value creation and/or the innovation process at organisations in real-life. To successfully complete this assignment, you need to to explore the academic literature about business models and required to write an essay addressing the following statement: Based on Amit & Zott (2010), Kodama (2009), and Itami & Nishino (2010), who published in Long Range Planning in 2009 and 2010, business models can be conceptualized as activity-based systems. Though, these authors developed different models and visions in their articles when they wrote about business models as systems. There is a good reason for this. The way that firms capture and create value can be different significantly. Much depends on the firm's unique context. In other words, when managers think about their firm's business model it goes without saying they need to understand the firm at a particular point in time, how it may need to change but also the features that compose it. Business models as activitybased systems provide managers with the flexibility to abstract in all of these ways.For doing this task and writing the essay you need to make sure you completely address the above statement and do the following: (You can use Heading and Sub-Heading for each part)  Define the concept of a business model (Definition and Citation)  Clarify and describe what is involved when one conceptualizes business models as systems.  Describe how business models as systems can be used to solve static and dynamic problems. (Defines key terms intelligently, drawing on the literature, including the terms static or crosssectional, dynamic or longitudinal, systems, value chain activities, resources, partnering or networking, and innovation processes)  Describe how business models as systems can be used to understand how firms partner.  Explain how business models as systems can be used to understand the innovation process. The most important parts of the assessment:  Explain Kodama's (2009), Zott and Amit's (2010), OR Itami and Nishino's (2010) arguments in more detail through the use of an example, that is, by explaining the business model of one firm in more detail. (You only need to focus on the articles of one of the articles referred to above, that is, only one business model framework or model.)  Identify which article you thought helped you understand business models as systems the most and explain why. (You can identify one article, two or all three if you want.)  Conclude by briefly discussing the significance of your findings for the future of business models.  N.B. You should feel free to use diagrams to illustrate points in your essay, including develop hybrid frameworks and models of your own based on your research. You should:  Shows an understanding of the business model concept and develops a clear set of arguments that completely addresses the essay question.  Defines key terms intelligently, drawing on the literature, including the terms static or cross-sectional, dynamic or longitudinal, systems, value chain activities, resources,partnering or networking, and innovation processes. This is done within a business model context.  Shows an understanding of the arguments in all of the three articles cited in the essay question, grounding the arguments in this essay through the use of sound logic and/or reference to an example that is explained sufficiently enough to demonstrate the argument(s) being made.  Explains one of the cited articles in the essay question intelligently and/or uses an example to explain the point being made and/or uses a diagram to explain the point.  Concludes by summarising key arguments, including their implications; these arguments are well-structured and masterfully articulated, integrating the theory well while demonstrating an appreciation of the challenges faces by managers in real life organisations : .