part 2

Question 1

what are important factors to consider with initiation?

Answer 1

1. understanding the actors - customers, partners, competitors
2. analyzing influencing factors - technologies, megatrends, and regulatory changes

Question 2

applying the 55 identified patterns to your own business model and thereby generating new ideas for your business can be done in two ways:

Answer 2

1. similarity principle; starts inside and moves outside, begin with similar and move to dissimilar patterns
2. Confrontation principle: specifically wants to face off with extremes, so you compare your current business model with scenarios in completely unrelated industries

Question 3

the cycle of applying the NABC method consists of four steps:

Answer 3

1. development - the most promising idea is developed into a concept
2. sharing - each group presents their ideas to other participants in an elevator pitch style
3. water-holing - after each presentation, the group receives give-and-take feedback
4. redesign - any weaknesses and challenges that have been uncovered are addressed by way of new ideas

Question 4

not invented here syndrome =

Answer 4

the tendency of people and organizations to avoid things they didn’t create themselves

Question 5

define:
internal consistency =
external consistency =

Answer 5

internal consistency = may be defined as presenting harmony between the who-what-how-why dimensions
external consistency = refers to the fit between your new business model and the company’s environment

Question 6

the implementation phase consists of three-step cycle:

Answer 6

1. design
2. prototype
3. test

Question 7

5 most important ways of managing change from the top:

Answer 7

1. show commitment
2. involve employees in change management
3. established champions and change management leaders
4. avoid cognitive biases
5. the fat smoker syndrome

Question 8

define the fat smoker syndrome

Answer 8

being aware of the health risks and have a strategy to solve the problem, but they lack the determination and discipline to keep their promises

Question 9

what are the various ways of how business model innovation can be put into practice?

Answer 9

• part of existing business
• integrated in new business unit
• as their own independent company

Question 10

define smart goals

Answer 10

specific, measurable, acceptable, realistic, time-bound

Question 11

what is the greatest hurdle in business model innovation?

Answer 11

to overcome internal resistance

Question 12

in what three ways can missing capabilities be remedied?

Answer 12

1. develop the capabilities internally
2. partner with others
3. buy capabilities or businesses

Question 13

companies that have a strong culture of innovation have specific traits:

Answer 13

employees show initiative, permission to work on unofficial submarine projects, serendipity, employee diversity, communication

Question 14

link NABC to the corresponding pespective

Answer 14

need - customers perspective
approach - inside perspective
benefits - value perspective
competition - outside perspective