Business mode innovation
1) Familiar with the business model innovation subject
2) Knows very well the business model canvass, vale proposition and disruption techniques
3) To be creative thinking, know to make ideas and concepts and to disrepute the current business of the mentioned in the case study and innovate a new business
Business model innovation
A proposed business model innovation for one of the case companies in the ‘Growth Champions’ book •Jones, T., McCormick, D. and Dewing, C. (2012) that is attached as PDF files- not already covered on the course. (Note we have covered Apple, Lego, Amazon and google). Please see attached PDF files containing the companies that will need to select one of them and make the following the below requirements.
Please let me know which company you have selected in order to develop the business model innovation.
This assignment is about testing on how we develop a business model innovation for an organization using canvas and value proposition. Then we annotate this business model canvas and value proposition using the disruption techniques – showing how the business model would be changed and why. The type of innovations and patterns used should also be identified.
Also there should be evidences and justification for the changes that you will do for the annotated business model.
The criteria against which the assessment will be judged are:
• The clarity of understanding of the original business model
• Identification and priority of areas for innovation
• The evidence used to justify areas for innovation
• The clarity of the enhanced or revised value proposition
• The clarity of the enhanced or revised business model
• Appropriate use of the tools and application of their different elements
Summary of the company business just briefly.
1. Current Business Model of the company
What is the current business model of the company just barfly 2 or 3 sentences to show our understanding.
You will create a canvas for the company business model using such like this template and fill it with infromaton. Please in the internet and you will find many template.
To know about ” canvas” business model you have to read Chapter 1 “Canvas” in Business Model Generation (Osterwalder and Pigneur 2010) available here http://adf.ly/vWmRr. Please skip Ads then download the book and read chapter 1
The following video gives you a quick overview of the purpose and application of the business model canvas.
Ep 1 – Getting From Business Idea to Business Model
Ep 2 – Visualizing Your Business Model
2. Annotated a new business model canvass with justifications
You will need to annotate a new /change/enhance business model you might be not need to change many things in the old canvas. It include what change you have decided to make, and why we believe these changes present a better business model.You will not make many changes for the previous business just what areas that can be changed in order to have better business model. So the old canvas will be disrupted and it will be like new business.
Identification and priority of areas for innovation the evidence used to justify areas for innovation. Remember to provide the justification for the changes. Also there is technique for disrupting the business model to know about the disptuive tehniues ,please watach the following vedios.There is a table that shows the chlie’ and revese so I will be happy if can menited that you have used the existing business model by acting as saboteurs and reversing certain identified clichés:
Heywood: Concepts for Disruptive Thinking
Tools for Disruptive Thinking
3. Current value proposition (Value Map and the Customer Profile Map) of the company
You will provide brief about value proposition like 2 sentences. Then you will need to create the value proposition (Value Map and the Customer Profile Map) of the company using these format. You will need to fill them with the information. There are many templates in the internet as this format one does not look good.
To know how to make value proposition you should familiarise yourslef with the material in chapter 1 of Value Proposition Design (Osterwalder etal 2014). You should pay particular attention to reviewing the concepts which underpin the Value Map and the Customer Profile Map.
You can download a free copy of the first chapter here
These video will also help you understand the concept:
Alexander Osterwalder: Mapping Customer Pains to Value Proposition
4. New value proposition (Value Map and the Customer Profile Map) of company and why
Again there will be areas that you will change them with justifications and create a new value proposition. we need to do is narrate what the original idea was, the issue/weakness we have with it, what change we have decided to make, and why we believe these changes present a better business model
5. Type of business innovations and why (justified)
And here is a quick overview about the 10 types of innovation:
6. type of patterns and why
For the patterns, please refer to chapter 2 Patterns in the Business Model Generation (Ost) erwalder and Pigneur 2010) available here http://adf.ly/vWmRr. Please skip Ads then download the book and read chapter 2. There are 5 types of patterns
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