Courses

 

Business Model Design and Innovation

 

Course description

Companies are beginning to recognize that to win in today’s intensely competitive business environment, innovation needs to go beyond product or process innovation. Many of the great business icons of recent years, such as Apple, eBay, SouthWest Airlines, Starbucks, Google and Wal-Mart achieved success through innovating entirely new business models. This powerful online course will give you a complete introduction to business model design and innovation. It explains where business model design fits into strategy and execution, and it includes a review of dozens of successful business models, both old and new.

Who should attend

Executives and entrepreneurs responsible for creating new business models or re-imagining existing business models.

What you will learn

Session 1– Foundation

Course overview; Key trends transforming the business environment; The importance of innovation; Types of innovation; Impact of business model innovation vs product / process innovation; Definition of a business model; How business models fit in strategy and execution.

Session 2 – Business model design

Designing the five core business model components; Markets – market selection, customers and needs, value chain, competitors, partners; Products – definition, experience, pricing, integration, differentiation, value proposition; Processes – develop, market, deliver, manage, support; People – employees, investors, partners, other stakeholders; Economics – revenue, costs, investment, funding, cashflow; Business model as an integrated “cash engine”; Business model design goals.

Section 3 – Component innovation   

Market innovation models; Product innovation models; Process innovation models; People innovation models. Includes a review of examples of under-served markets, over-served markets, bare bones models, experience models, recurring revenue models, “free” pricing models, web-enabled models, outsourced models, insourced models, public-private models.

Session 4 – Business model innovation 

Single-sided market business model innovation; Network effects; Multi-sided (network) markets; Includes a review of examples of auction models, advertising models, other third party payment models, broker models, crowd source models, open source models, platform models.

Session 5 – Strategy and business model design across the company lifecycle

New ventures – designing your first business model; Growing companies – scaling your business model, launching new business models; Enterprises – core capabilities in open innovation, business model design, portfolio agility; Implementation – management action plan; Course summary and next steps.

Outcomes

Once you complete this course, you will have:

• A sound understanding of business models and business model innovation.
• An appreciation for the central importance of business model design and innovation in strategy development and execution.
• Dozens of examples of winning business models, including many well-known company success stories.
• A clear understanding of how to apply business model design and innovation at each stage of the company lifecycle.
• An enhanced ability to accelerate growth, increase profitability and cashflow, and maximize the value of your company.
• A comprehensive set of course materials and an extensive list of resources for further learning.