Software Instrument for Teaching Joint Venture Business Models in Hydraulic Power Field
Software Instrument for Teaching Joint Venture Business Models in Hydraulic Power Field

Summary/Abstract: In a competitive market companies are forced to create innovative products with high added value. Thus, companies requirements for bachelor engineers are very high. Business models all have to be well understood by the fresh engineers. In order to achieve end market success in a highly competitive such as hydraulic power field, to access new markets, companies must share resources, combine assets and operations. Employment of digital factory technologies, evolution towards Industry 4.0 require integration of manufacturing process form 3D design, computer aided manufacturing and inspection, are allowing improved manufacturing cycles, reducing cost. For instance, hydraulic components manufacturer and automation systems manufacturers, software suppliers must joint to create highly competitive products. In the paper a software application is developed to teach joint venture business models to bachelor and master students. The application will guide the student by presenting different screens where student must enter different information. The system allows selection of business models, presented as on open list. The next screen allows entering companies that form the joint venture and defining the role, structure, assets and key products or services, resources cost. Also, information about market trends must be added. Capital deployment, leadership expectations, key points for investors are introduced in structured manner. The application will have links to the reports from various PLM systems (Product lifecycle management) in order to acquire cost data for every resource/ asset used in the joint venture, in order to track and calculate breakdown costs. At the end the proposed business model can be listed and exported.

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