Business Model Innovation
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A comparison of the Fortune 500 firms fifty years back and today indicate that only less than 15 percent firms listed in 1960s are present in this list today. Hence, sustainability of business models is a critical issue for firms. During the last 5-10 years, business models globally have undergone a fundamental change facilitated largely due to digital advancement. Most of the high valuation firms today are technology firms. The likes of Amazon, Uber and many technology firms are transforming several industries through fundamental disruptions. New structures are emerging in traditional industries like automobile, where the competitors are creating alliances to develop future technologies in mobility, battery supply chains, and recycling issues in automobile sector. Similarly, the traditional retailers are now staring at bankruptcy with emergence of e-commerce led retail revolution. In this environment, it is crucial to be in control of the process design and innovation capabilities in the business models. In this programme, we develop templates and models that enables firms to revisit more frequently their business models and create mechanisms to innovate the processes at greater speed than before.
- To identify the imperatives for firms to create ecosystems for business model innovation.
- To understand the key distinctions between product/service innovations and business model innovations.
- To recognize the necessary tools and skills (analytical and behavioural) to make robust frameworks for business model innovations.
- To highlight through global example of firms competing and aligning the mindset in the digital ecosystem through business model innovation.
- Distinction between product/technology innovation and business model innovation
- Creating value through industrial platforms and pan-industrial revolution
- Managing risk in business models
- Process innovations and sustainable competitive advantage
- The unscaled economy of the future
- Building blocks and language of business models – additive manufacturing, cooperative/cloud manufacturing, AI, digital twin.
Who should attend
- Middle to senior level managers in all functional areas (VP/SVP/GM/DGM)
- R&D managers/innovation leaders
- Heads of business development