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Question 1

Business model?

Answer 1

Business models describe the input, revenue, and cost impact of a value composition. They help the business greatly on all kinds of sides.

Question 2

Goals of business model

Answer 2

capture value

create value

Question 3

Focus of business model?

Answer 3

• notion of value
• financial aspects
• aspects related to the architecture of the network between the firm and its exchange partners.

Question 4

business system

Answer 4

concrete realization of a general business model. Big businesses have different models, and all businesses can change/adapt them.

Question 5

Magic triangle

Answer 5

A company’s current business model becomes tangible(tastbaar) by discussing it in 4 dimensions, captures value by defining those questions, innovating means changing at least two of them:

Question 6

the four questions in the magic triangle?

Answer 6

- The customers - WHO are our 
target customers? 
- The value proposition- WHAT do 
we offer to customers? 
- The value chain - HOW do we 
produce our offering? 
- The profit mechanism - WHY 
does it generate value? 

Adjustment on one corner automatically necessitates tweaking the other two corners. ⟶ Magic

Question 7

Why innovate business model?

Answer 7

• Resting on past successes doesn’t work.
• You need to change the environment around you.
• Today a company’s long term competitive success depends upon its ability to create an innovative business model.
• growth and competitiveness in business

Question 8

Challenge of business model innovation?

Answer 8

Overcome the dominant firm and industry logic.

Question 9

three mental challenges that tackle the issue of business model innovation:

Answer 9

1. Thinking outside one’s dominant industry logic
2. Thinking in business models rather than in technologies or products
3. Thinking without systematic tools

Question 10

Orthodoxies (by sociologists)

Answer 10

basics of the company that are carved in stone. Shared beliefs of a group that has a long history and is not open to change.

Question 11

Not invented here syndrome:

Answer 11

a psychological phenomenon that rejects any idea coming from the outside. But must find a balance between the necessity of integrating outside ideas and allowing management to develop its own ideas.