Business Model Design & Innovation From the Physical to the Digital
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As a business executive or owner, your success lies in your ability to identify more profitable options than competitors, choose the high-probability option and execute the chosen option with lower risk.
At the core of market success is your business model: how your organization uses its internal capabilities (the value chain) to deliver value (revenue) and capture value (profits). Business model innovation enables an organization to do this better than others in the same industry. This process will also allow you to modify an existing business by taking advantage of digital innovations.
This course will teach you to answer three questions that will determine the success or failure of any business: where to play, how to win and what to do? In answering these key questions, the course will guide you through an in-depth discovery of how to create, drive, and sustain competitive advantage.
Where to play: Making the wrong choice here can be irreversible. Our focus is on where you can sell more with greater pricing power.
How to win: However attractive your industry might be, making money depends on the underlying profit logic. You will learn how to operationalize the profit logic by isolating specific and measurable deliverables. If you can execute these deliverables you will not only exceed the customer’s expectations but simultaneously deliver these expectations more efficiently than competitors. We will address the concept of core objectives, and how to identify multiple core objectives for the same market that best match your capabilities, thereby dramatically increasing the probability of superior execution.
What to do: We will move from the abstract to the concrete, putting the components of your value chain together such that you can realistically execute it given your capabilities. In day one you will create a visual model for your business, seeing how to manipulate the resources of your business for easier execution. In day two you will be able to visualize multiple business model designs, giving you an optimal vantage point for selecting the one that best matches your capabilities.
Topics: Day 1
- What is a business model and what constitutes business model innovation
- Understanding the profit logic to drive business model innovation
- Tools to redesign the value chain to drive business model innovation
- Using COAR maps to communicate the above visually
Topics: Day 2
- Types of business models and generic profit logic
- Recognizing the business model that makes most sense for your business and customizing the profit logic from the generic logic
- Developing the COAR map and establishing execution parameters
As a result of attending this program, participants will:
- Choose market segments with high probability of profits based on industry dynamics and your business model
- Develop a step-by-step process to build the components of a business model that can transform the selected profit logic into real-world customer value and profits or shareholders
- Use design principles to get the most out of different functions by understanding how they interoperate
- Learn approaches for identifying more options than competitors for the same opportunity
- Recognize the kind of business you really have and the kind of business model you need
- Identify the true success drivers of a few first-in-class industry leaders and adapt best practices from these and other companies that fit your business model, rather than adopt just any "best practice".
- Recognize options for incorporating digitization into your business model when appropriate.
Who should attend
Executives and managers who have direct or indirect responsibility for the formulation and/or implementation of strategies that affect their organization's growth and market value. Functional managers from business development, marketing, operations, finance, human resources, or IT, or professionals moving into those roles may also find benefit.