WEEK 9

Do you think interior architecture firms have different business models or do most firms use the same generic business model? Why do you think so?

In my opinion interior architecture firms uses different business models, one of it is experience-based model. This model is for firms who place a high value on giving their customers a top-notch experience. They put a lot of effort into forming bonds with their clients, learning about their wants and preferences, and providing individualised solutions. Another one would be expertise-based model. This model is intended for firms that concentrate on a single field of knowledge, such as healthcare or sustainable design. To provide their clients a special value, they put their attention on gaining indepth knowledge and competence in their field.For efficiency-based model, this model is intended for firms who are more efficient or less expensive than their rivals in completing tasks. To save expenses and boost revenues, they put their attention on simplifying procedures and maximising output. Depending on their objectives, core beliefs, and target market, some firms may choose to combine these models or create their own, which is why we will feel a lot of overlapping going on in the industry.

How can interior architecture firms strengthen their business model to stand out from other interior architecture firms?

Interior architecture firms can strengthen their business model by creating a distinctive value proposition that highlights the advantages they provide to clients and distinguishes them from rivals. They should also select a business model, that is suited and consistent with their goal and principles. In addition, interior architecture firms could simplify operations and increase efficiency, business support technologies with project management and accounting capabilities tailored for the industry.

The process of creating a business proposal may be difficult yet rewarding. I picked up a number of crucial lessons during the process that I could implement in the future. The significance of comprehensive investigation and analysis became clear during the development of the business proposal. I discovered how crucial it is to fully understand the target market, market trends, and competitors. Making sensible choices and offering clients custom solutions are made possible by this knowledge. Furthermore, it takes strategic thinking to develop unique selling qualities, set oneself apart from competitors, and add value to clients while developing a business proposal. Through this, I developed the ability to evaluate my business and the market’s SWOTs.

I had trouble striking a balance between being succinct and comprehensive during the process of developing a business proposal. I have to learn how to simplify material without losing its fullness or clarity. I honed my skills to prioritise important topics and effectively explain them in order to meet this task. I will put this skill to use in my career by making sure that I communicate clearly and effectively while offering thorough information when required. I will also prioritise conducting thorough research to stay abreast of market trends and present creative solutions in the future.

Overall, the process of developing a business proposal gave me insightful knowledge about the complexity of business planning and strategy. I gained knowledge about the value of research, strategic thinking, clear communication, and problem-solving skills. By applying these skills to my career, I will be more equipped to formulate competitive business proposals, and prosper in a fast-paced business environment.