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quirky business model

Category: Business Paper Type: Homework Reference: APA Words: 1500

Yes, I think so that Quirky basic business model is fair and sound. This organization takes the crowd sourced ideas and then turns these ideas into the reality. They have their own developers and in-house staff of engineering with the global online contributors of community. All of the products that are introduced by this organization are sold with the revenue of 60% and give about 40% of the original inventors or influencers. From the influencers they choose the best idea and then design the new product according to the design. Now managing the resources in the better way organization started to follow service-oriented approach.

Company is running success fully, therefore I think so they have no need to bring any change in the business model of Quickery. The one or the important change through which they can earn profit is the innovation in the products or ideas. Beside this Quikry have all the features of the good business, but they have to bring some of the changes in their business model, they have to develop their supply chain system. They have to develop the product model, this product development model help to increase the profit of the company. They have to adopt continual stream of new products. With this company has to focus on high selling products because retail partners are not suited for the organization. Every week this organization marks different ideas from the different rounds.

Q2: To what degree does Quirky business model reflect the attributes of the sound business ideas as describes in chapter 2?

Attributes of Quirky are sound and fair that help the organization to get success. First or the important idea is the innovation of the ideas, that this company gets the different kinds of the ideas. In addition, these ideas help the organization to get success. These winning ideas go for the development by the Quirky team. These ideas help the organization to earn 35% of the revenues of the products from which 10 percent from retailers. In addition, the other attribute is the influence of the employees or the management. From the influences of the employees or the manages it become easy for them to achieve the goal. Due to which it become easy for the organization to handle the costs that are associated with bringing products of market. Company has the great idea for Earbud Cord management for iPode, so that the cord will not be tangled. These are the different or the innovative attributes that are require for the success of any of the business.

Assignment on Quirky (Questions & Answers) By ABC Date Q1: Do you think Quirky basic business model is sound and fair? if you could suggest nay changes, what would they be? Yes, I think so that Quirky basic business model is fair and sound. This organization takes the crowd sourced ideas and then turns these ideas into the reality. They have their own developers and in-house staff of engineering with the global online contributors of community. All of the products that are introduced by this organization are sold with the revenue of 60% and give about 40% of the original inventors or influencers. From the influencers they choose the best idea and then design the new product according to the design. Now managing the resources in the better way organization started to follow service-oriented approach. Company is running success fully, therefore I think so they have no need to bring any change in the business model of Quickery. The one or the important change through which they can earn profit is the innovation in the products or ideas. Beside this Quikry have all the features of the good business, but they have to bring some of the changes in their business model, they have to develop their supply chain system. They have to develop the product model, this product development model help to increase the profit of the company. They have to adopt continual stream of new products. With this company has to focus on high selling products because retail partners are not suited for the organization. Every week this organization marks different ideas from the different rounds. Q2: To what degree does Quirky business model reflect the attributes of the sound business ideas as describes in chapter 2? Attributes of Quirky are sound and fair that help the organization to get success. First or the important idea is the innovation of the ideas, that this company gets the different kinds of the ideas. In addition, these ideas help the organization to get success. These winning ideas go for the development by the Quirky team. These ideas help the organization to earn 35% of the revenues of the products from which 10 percent from retailers. In addition, the other attribute is the influence of the employees or the management. From the influences of the employees or the manages it become easy for them to achieve the goal. Due to which it become easy for the organization to handle the costs that are associated with bringing products of market. Company has the great idea for Earbud Cord management for iPode, so that the cord will not be tangled. These are the different or the innovative attributes that are require for the success of any of the business. Q3: In what other product areas would Quirky business model work the best? Quirky believes that their business ideas are best in the world; it is the peer driven marketplace among the other things. With the help of these ideas, Quirky can solve to different problems of the businesses of the different people. Quirky can work better in many of the other electronically goods as its partners are introducing. Q4: On September 22, 2015, Quirky filed for chapter 11 Bankruptcy Why do you think this happened? Give detail about components of Quirky business model that you believed led to bankruptcy/ In the rough business model announcement of bankruptcy is the latest bit news of the enthusiastic users and rough business model in community. Bankruptcy files of Bankruptcy files of Quirky agree on the swelling of the wink of smart home subsidiary. Popular platform of Quirky is giving the up ownership of wink and cutting the losses of the popular crowd-sourcing platform. This popular invented crowd-sourcing platform is filling with the selling wink and bankruptcy of chapter 11. Specialization of subsidiary is connected with the home products according to the electronics-manufacturing firm, Wink blog post is its new corporate parent. For acquiring the company, Flextronics offer $15 million. This past July Quirky reported $12 million in cash. Through its bankruptcy, Quirky faces some of the challenges.

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