Business Model

Question 1

Business Model

Answer 1

Recipe of your business built around an in-depth consumer knowledge and insight of their needs

Question 2

Re-focusing value

Answer 2

Instrumental - value derived from the deployment of the offering
Intrinsic - value derived from the possession of the offering
Extrinsic - value derived from the appreciation of the offering

Question 3

Business model innovation

Answer 3

Transforming key elements of your business or inventing completely new ways of doing business

Question 4

Taxonomy

Answer 4

Industry model innovation - innovating the industry value chain by moving into new industries, redefining existing industries or creating entirely new ones, also by identifying unique assets

Revenue Model innovation - innovating how we generate revenue through offering re-configuration and pricing models

Enterprise model innovation - indicating the role we play in the value chain by changing our extended enterprise and networks with employees, suppliers, customers…

Question 5

Major challenges and barriers

Answer 5

Business model innovation - different type of innovation, high risk and uncertainty

Organizational - lack of capabilities, new organization required: yes or no?

Individual - change in behaviors, mental models/cognitive maps