Book chapter 1

Question 1

What are the dimension for the business model according to the book?

Answer 1

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

Question 2

How many dimensions should you change to call it an innovation?

Answer 2

Innovation means changing at least two of them.

Question 3

Why do many businesses fail with innovating their business model?

Answer 3

Because many businesses fail to capture ENOUGH value.

Question 4

What are the three main challenges when innovating a business model?

Answer 4

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 5

How to overcome the “thinking outside one’s dominant industry logic”? But what is the pain point of this method?

Answer 5

By bringing ideas from outside the company to break the usual patterns of thought. The “not invented here syndrome” means rejecting an idea that is from outside the company.

Question 6

What are the different myths that are related to the “thinking without systematic tools”?

Answer 6

• The initial ascent myth
• The think big myth
• The technology myth
• The luck myth
• The einstein myth
• The size myth
• The R&D myth