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Wyche Innovation Centre Business Models & Introduction to Business Modelling Wyche Innovation Centre Business Models & Introduction to Business Modelling

Wyche Innovation Centre Business Models & Introduction to Business Modelling - PowerPoint Presentation

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Wyche Innovation Centre Business Models & Introduction to Business Modelling - PPT Presentation

Learning Objectives Understand the difference between common business models Compare and contrast common business models when applied to a business Business Models A business models is the system that transforms intangible business ideas into productsservices that have value in the market place ID: 781594

models business model key business models key model innovation elements wyche centre customer money firm proposition mapping provideroffers access

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Presentation Transcript

Slide1

Wyche Innovation Centre

Business Models & Introduction to Business Modelling

Slide2

Learning Objectives

Understand the difference between common business models

Compare and contrast common business models when applied to a business

Slide3

Business Models

A business models is the system that transforms intangible business ideas into products/services that have value in the market place (Hedman and Kalling, 2003)

Business models define:How a firm worksWho its customers areWhat the customer valuesHow a firm makes money

How value can be delivered to the customer cost effectively Magretta (2002)

Slide4

Classifying Business Models

Business models provide a framework creating and delivering value to the end consumer. This can be done in the following ways:

Product/service providerOffers an end product or service to the customer

Ownership and rent of key assetsOffers customers the use of a product/serviceFinance providerOffers customers access to money and capital and associated services

Tidd & Bessant (2013)

Slide5

Classifying Business Models

Systems integrator

Pulls together components on behalf of customersPlatform providerOffers a platform from which other businesses can create value

Network providerOffers access to a network Skills providerRents or sells access to knowledge or human resources

OutsourcerOffers to take responsibility for a non core/key activity for another business

Slide6

Business Model Classification Discussion

Come up with an existing business which could be categorised under each of the business model categorises

What business benefits could be gained from categorising businesses based on their business model?Do you think it is a good idea for a single business to adopt several business models?How/why have you come to this conclusion?Is one business model more sustainable than other?

How/why have you come to this conclusion?

Slide7

Case Study: Wyche Innovation Centre

In their own words:

Managed by Key IQAn innovation and technology hub in Worcestershire. They provide workspaces and business servicesFlexible to suit the needs of both small and growing businesses. Operating an easy in and easy out policy

Slide8

Video

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Slide9

Case Study Discussion Questions

What type of business model(s) would you classify the Wyche Innovation Centre of currently following?

How/why have you come to this conclusion?What are the benefits for the Wyche Innovation centre of having two different business models?Are there ever any potential dangers with operating more than one business model in a single business?

Slide10

Mapping the Key Elements of a Business Model

Many tools exist to help with the mapping and visual representation of a business (including the Business Model Canvas)

When mapping the key elements of a business it is important to consider the following:What is the value proposition offered by the business?What are the key activities and resources required to realise the value proposition?

Who is the customer segment is?How will the firm will generate revenue money?

Slide11

Mapping the Key Elements of a Business Model Activity

Answer the following questions for the case of the Wyche Innovation Centre in order to map out the key elements of their business plan

Pick a business and answer the following questions for that business in order to map out the key elements of their business plan

What is the value proposition offered by the business?What are the key activities and resources required to realise the value proposition?Who is the customer segment is?How will the firm will generate revenue money?

Slide12

References

Hedman, J., Kalling, T. (2003) The Business Model Concept: Theoretical underpinnings and empirical illustrations,

European Journal of Information Systems, 12(1), 42-59Magretta, J. (2002) Why Business Models Matter?, Harvard Business Review, 80(5), 86-92.Tidd, J., Bessant, J. (2013) Managing Innovation: Integrating Technological, Market and Organizational Change

, John Wiley & Sons: Chichester.