Towards a Theoretical Framework for Business Model Development for Colostrum Processing

Abstract

Bovine Colostrum (BC), the initial milk produced by dairy animals after parturition, is usually produced in excess of that required by neonates. Research on BC over the past years has provided evidence of its numerous nutritional and health benefits. The nutritional and health benefits allow BC to be utilized by humans as a health supplement. The study proposes a framework for Business Model (BM) development for Bovine Colostrum Supplement Manufacturing. The proposed framework would provide a structured methodology for the development of business models for the BC supplement manufacturing business. This process involves initial feasibility studies (technical, economic, environmental, operational, legal, and resource). The BM is then subsequently developed from the feasibility studies. The business operating conditions necessary for business viability are postulated from the analysis in the Feasibility Study stage. The BM is then validated in the Business Model Validation Stage. The validation is done through several rounds of questionnaire surveys with experts via the Delphi Technique. The final step in the process is the Business Model application stage within the environment. In the application stage, potential areas of improvement with the mode are identified, and the process loops again into the Business Model development to further refine the model. After it has been refined it goes through the validation stage which can be implemented in the real-world environment.