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Business Model Generation Canvas

The Business Model Canvas is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model.

Source: http://www.businessmodelgeneration.com/canvas/bmc

For our project regarding the financial service sector we are using it to evaluate the current business model offered, and further analyzing it with a SWOT analysis. The purpose is to find opportunities to innovate and further analyze and understand the service sector. 

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Analyzing Financial Services

For the generation of our business model we are trying to bridge the gap in between commercial banking and informal financial services. This graph shows our major competitors in the financial services sector. 

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Singapore Airlines Case Study

Singapore air innovated their field with a series of decisions that separated them from their competitors: 

Their innovation approach focused on developing customer intimacy to provide add value to the user’s experience. 

Singapore Air today: 

What It’s like to Fly the $23,000 Singapore Airlines Suites Class at Medium:

https://medium.com/travel-adventure/what-its-like-to-fly-the-23-000-singapore-airlines-suites-class-17d9f3fee0d

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Service employees are crucially important to the success of a firm

Front line employees are very important to both service customers and providers. 

When users interact with the front line employers they perceive the quality of the service encounters. What the customer receives from the service encounter helps them evaluate the service. 

If the staff members are loyal to the company and brand, then this will improve the quality of service provided from the employee. In turn, the loyalty towards the company will also raise productivity, which is a gain in profitability. 

Based on Services Marketing Lovelock, Wirtz, Chatterjee 

Image source: http://www.xplane.com/news/change-dna—-co-creation/view/