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« Business Model »
M1 ‘14 – C III Date 22nd Sept + …
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 1
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 2
Give me some takeaway from the previous course ! Come on ! Dare … J
Structure of the Course today • Searching for the definition of BM
• Understanding how to use the BMC
• Discover some examples
• Talk about the HBR article of Clayton Christensen
• Next Course :
– A great video how to use the BMC
– Zara – Inditex Case + Guest of the day à next course ?
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 3
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 4
Business Models … Why is this notion important for you ?
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 5
What’s A “Company” ?
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 6
What’s A Company?
A business organization which sells a product or service (solution ?) in exchange for revenue and profit
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 7
How Are Companies Organized?
Companies are organized around Business Models
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 8
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 9
Yes but what About My Technology?
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 10
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 11
What About My Technology? The technology is one of the many critical pieces necessary
to build a company. It can be part of the “Value Proposition” (offer)
or It can be part of the Value Chain (production)
or It can be part of the Customer relation (value delivery)
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 12
What About My Technology? Customers don’t care about your technology
They are trying to solve a problem Entrepreneurs are solving problems … J
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 13
How Are Companies Organized?
Companies are organized around Business Models
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 14
What’s a Business Model?
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 15
What’s a Business Model?
A business model describes the complex mechanic & all the parts of the company
necessary to make money (or create value for non-profit organizations)
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 16
• Def … “Business Model”
– A business model describes the
rationale of how an organization
creates, delivers and captures value.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 17
Delivery of the value created ?
Capture of the value created & delivered
Value CreaXon ? Value
proposiXon ?
The basis of the BM is the creaXon of potenXal r e v enue , o r mo re concretely the « Value CreaXon » à concept of “Value ProposiXon”
Less evident à many innovaXon in the channels to deliver the value : Internet, partenerships, …
Economic model à how you capture the value created and delivere … many innovaXons : Google, Ebay, Skype, Facebook, …
Plenty of opportuni.es of choice, pa4ern, … So,many different combina.ons & op.ons !
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Partnerships ?
23/09/14 18
Basic historic Business Model … ?
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 19
Basic historic Business Model … ? Easy to understand … Easy to copy … Fit with the market demand …
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 20
InnovaXve Business Model … ?
Gutenberg looking for applicaXon for his new technology … ?
?
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 21
InnovaXve Business Model … ? 1950 … DC introduce locally a new culture of payment …
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 22
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 23
Question ? 2 minutes exercise … • Explain - briefly – to your neighbor the
business model of the company you have chosen ?
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 24
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 25
A tower to heaven … ?
“God went down and confounded their speech, so that they could not understand each other, and scattered them over the face of the earth, and they stopped building the city. Thus the city was called Babel.”
Different languages à impossible to build the tower àSame problem with business !
Let’s use a common culture / language
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 26
Blah, blah, blah, blah … How do business people traditionally discuss business models à Blah, blah, blah Smart people around the table à we should, … but no shared language Blah, … because a mix of strategy, resources, implementation, marketing, sales, … When words don’t work, you should try something else … Business Design Summit M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 27
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 28
Dan Roam author
Any problem can be made cleared with a picture … Clarity à better conversation à better solutions
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 29
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 30
All businesses are organized around what is called a "Business Model"
All business models include three large dynamics allowing a large number of combinations
Models become more complicated, it is not easy to describe a business ... It is easier to describe a
company explaining its Business Model Design tools can facilitate the understanding of a
business model Technology is a means to create, deliver and
capture value, it is not a purpose M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Take Away
23/09/14 31
Business Model Canevas of Dr Osterwalder
• Phd à 2001 • Management book of the decade ? • Websites & Blogs • Revolution à Mind mapping of the Business Model
Processing • Propose a common culture and tools to innovate
through the BM • Useful to understand the existing BM and to challenge
them • Useful to explore new patterns and configurations • Adapted to the changing environment !
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 32
• Alex Osterwalder : – A business model can be described as :
• an abstract conceptual model that represents the business and money earning logic of a company.
• a business layer (acting as a sort of glue) between business strategy and processes.
– But the Business Model … : • It is not a guarantee for success as it has to be implemented
and managed. • It is something else than the company's business process
model
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 33
A business model is a conceptual tool that contains a set of elements and their rela4onships and allows expressing a company's logic of earning money.
It is a descrip4on of the value a company offers to one or several segments of customers and the architecture of
the firm and its network of partners for crea4ng, marke4ng and delivering this value and rela4onship
capital, in order to generate profitable and sustainable revenue streams.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 34
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 35
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
“You can’t write about business model innova4on … without an innova4ve business
model”
23/09/14 36
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 37
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 38
?"A business model describes all the parts of the company necessary to make money"
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 39
?"what are those parts? what parts is a business model composed of?"
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 40
Business Model Canvas"
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 41
To describe, challenge, design, and invent business models more systematically"
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 42
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 43
WHAT?
The bundle of products & services that create value
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 44
WHAT? WHO?
The different groups of people or organizaXons an enterprise aims to reach and serve, + the tacXc to reach them & to develop
relaXonships with them
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 45
WHAT? WHO? HOW ?
The configuraXon of resources, competences, acXviXes and
partnerships to create & deliver the value
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 46
WHAT? WHO? HOW ?
-‐ €? + €?
The cash a company generates from each Customer Segment
All costs incurred to operate a business model
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 47
building blocks "9"
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 48
Ground rules using BMC - 1
Don’t write on the Canvas: By using Stattys / Post-its to describe your business model you will be able to move things around, onto as well as off the Canvas. This way ideas stay mobile and you keep things flexible.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 49
Ground rules using BMC - 2
One idea per Statty / Post-it : Don’t make bullet points on Stattys. For instance, use two Stattys to describe two different channels, like your sales force and
your company’s website. This will allow you to play around with the elements of your business model.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 50
Instructions to use BMC - 1
Getting started: Start sketching out your business model by creating Stattys for each one of the nine building blocks. Some people prefer to begin with listing their customer segments or value propositions. Others prefer starting with their key resources or key activities. It doesn’t matter. Just do it.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 51
Instructions to use BMC - 2
Add all elements relevant to your model: Ask yourself what all the elements are that your business model requires to create, deliver, and capture value. Create a Statty for every single element
that is important. M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 52
Instructions to use BMC - 3
Check completeness and coherence : Make sure you don’t create “orphan” elements in your business model. For example, for each customer segment and their jobs-to-be- done you should have a corresponding value proposition. Or, for instance, for each value proposition you should list the key resources and activities that are required to create it.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 53
Instructions to use BMC - 4
Tell a story: When finished sketching out your business model try telling the story of your model one Statty at a time. Take all the Stattys down and explain your business model by putting up one Statty after the other on a blank Canvas. This will force you to tell a coherent story element after element.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 54
The 9 blocks ?
23/09/14 M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 55
CUSTOMER SEGMENTS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 56
CUSTOMER SEGMENTS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
For whom have we have chosen to create value? Who is the typical customer? What for? Define one or more segments or individual exhibiting behaviors / needs / problems individuals we choose to solve 23/09/14 57
CUSTOMER SEGMENTS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Customer or User ?
For whom have we have chosen to create value? Who is the typical customer? What for? Define one or more segments or individual exhibiting behaviors / needs / problems individuals we choose to solve 23/09/14 58
CUSTOMER SEGMENTS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Customer & User ?
For whom have we have chosen to create value ? Who is the typical customer ? What for ? Define one or more segments or individual exhibiting behaviors / needs / problems individuals we choose to solve
23/09/14 59
VALUE PROPOSITIONS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
What values do we bring to the customer selected ? What needs / desires we chose to respond ? What problem do we help resolve? Words of the customer! Issue of setting combinations of values for each matched segment. 23/09/14 60
VALUE PROPOSITIONS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
The words of the customer / user Not "dry product" product increased
Solu4on rather than product quan4fica4on
Adapted to the "problem customer"
What values do we bring to the customer selected ? What needs / desires we chose to respond ? What problem do we help resolve? Words of the customer! Issue of setting combinations of values for each matched segment. 23/09/14 61
VALUE PROPOSITIONS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
The words of the customer / user Not "dry product" product increased
Solu4on rather than product quan4fica4on
Adapted to the "problem customer"
What values do we bring to the customer selected ? What needs / desires we chose to respond ? What problem do we help resolve? Words of the customer! Issue of setting combinations of values for each matched segment. 23/09/14 62
VALUE PROPOSITIONS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Magic Duo ? 23/09/14 63
VALUE PROPOSITIONS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Magic Duo ?
ItéraXons
23/09/14 64
CHANNELS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 65
CHANNELS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Which channels our customers prefer ? Which are the most effective and efficient ? How do we integrate the habits of customers ? → Define how the company communicates and engages with its customers.
23/09/14 66
CHANNELS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Which channels our customers prefer ? Which are the most effective and efficient ? How do we integrate the habits of customers ? → Define how the company communicates and engages with its customers.
B2C ? B2B ?
B2B2C ?
23/09/14 67
CHANNELS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Which channels our customers prefer ? Which are the most effective and efficient ? How do we integrate the habits of customers ? → Define how the company communicates and engages with its customers.
B2C or B2B or B2B2C ?
How does the customer know that your offer is, how can it evaluate / test it, how can he go to the act of purchasing,
how it comes, how he receives the service sales ?
23/09/14 68
CHANNELS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Magic Trio ? 23/09/14 69
CUSTOMER RELATIONSHIPS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
What kind of relationship each of our segments want ? What is their costs ? How articulates those relations with other blocks of the model ? → Set the type of relationship with the customers segments. 23/09/14 70
CUSTOMER RELATIONSHIPS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
What kind of relationship each of our segments want ? What is their costs ? How articulates those relations with other blocks of the model ? → Set the type of relationship with the customers segments.
Purely transac4onal ? Sale "dry"?
Customer knowledge ? Maintenance of customer
rela4ons ? Privacy ? Trust ?
Sense of belonging ?
23/09/14 71
REVENUE STREAMS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
What do they currently pay for what kind of offers and how ? What is the from each source of income relative to total income ? → Assess the cash the company generates from each segment. 23/09/14 72
KEY RESOURCES"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
What key resources are needed to achieve the value proposition ? What channels, customer relationship, revenue streams ? → Define the most important assets required to make the model work.
Resource? Competence? Assesment?
23/09/14 73
KEY ACTIVITIES"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
What key activities are necessary for the realization of the value proposition ? What channels, customer relationship, revenue streams ? → Describe the most important for the model to work actions.
Value Chains
23/09/14 74
KEY PARTNERS"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Who are our key partners and suppliers? What resources and activities are supported or created by them? → Describe its network of partners and suppliers to ensure that the model works.
23/09/14 75
COST STRUCTURE"
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Quels sont les coûts les plus importants ? Ceux liés aux activités et aux ressources clés ? → Décrire tous les coûts inhérents au modèle.
23/09/14 76
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 77
Best Practices using BMC - 1
Color coding: Use different color Stattys to highlight certain aspects of your business model. For example, use different color Stattys if you have two very different customer segments in your business model with very different jobs-to-be done (e.g. advertisers and users). Then continue to use the same colors for the corresponding value propositions, channels, etc.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 78
Best Practices using BMC - 2
Visuals & words: Combining images and words to describe business model building blocks is more powerful than just using words. Our brain processes images quicker than words. Hence, images will allow viewers of your Canvas to more rapidly grasp the big picture of your model.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 79
Best Practices using BMC - 3
Granularity: Don’t add too many Stattys when you are sketching out the strategic overview of a business model. Too many details hide the big picture. On the other hand, adding detail is appropriate when you work on the refinement of your business model, in order to test it and consider customer development.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 80
Frequent Mistakes BMC - 1 Orphan Elements:
Make sure you don’t create “orphan” elements in your business model. For example, everyStatty in the revenue streams box needs a corresponding Statty in the customer segment and value proposition box that highlights who is willing to pay for what. You should not, for instance, have “advertising” as a revenue stream, without having an “advertiser” who is willing to pay for “an audience”.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 81
Frequent Mistakes BMC - 2 Mixing present and future:
Make sure you clearly distinguish between presently existing business models and future ideas. Mixing them can be confusing. You can easily distinguish between the two by using color coding or by using separate Canvases.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 82
Frequent Mistakes BMC - 3
Too many ideas in one Canvas: Describing too many different ideas in the same Business Model Canvas can lead to confusion. Try using separate Canvases to sketch out individual ideas. If necessary you can always bring them together in the same Canvas later on.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 83
images by JAM"
customer segments"
key partners"
cost structure"
revenue streams"
channels"
customer relationships"
key activities"
key resources"
value proposition"
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 84
images by JAM"
customer segments"
key partners"
cost structure"
revenue streams"
channels"
customer relationships"
key activities"
key resources"
value proposition"
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 85
images by JAM"M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 86
CANVAS OVERLAY"
images by JAM"
OFFER
CHANNELS
CUSTOMER RELATIONSHIPS
CUSTOMER SEGMENTS
REVENUE STREAMS COST STRUCTURE
KEY ACTIVITIES
KEY PARTNERS
KEY RESOURCES
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 87
images by JAM"
CANVAS OVERLAY"
OFFER (Value Proposition)
(Distribution) CHANNELS
CUSTOMER
RELATIONSHIPS
CUSTOMER SEGMENTS
REVENUE STREAMS
COST STRUCTURE
KEY
ACTIVITIES
KEY PARTNERS
KEY
RESOURCES
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 88
In 9 blocks you can briefly describe the key elements of the model of any human activity ... even yours (Business
Model You)! You also have a mental schema to quickly understand the
dynamics of such activities ... If you work in a group you can quickly create a language /
common culture à common reference Like any methodology there are things to do and not to do
à practice, practice ... In group if possible! The BMC provides a creative tool to seek in team for a business model … or to compare two or more business
models … or to let evolve its actual business model
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Take Away
23/09/14 89
Front Stage & Back Stage ?
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 90
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Efficiency Fit with the model chosen
Value crea4on + Focus Choices à trade off’s have been
made
23/09/14 91
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
î Costs ì Value
23/09/14 92
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Proof of Concept ? Proof of Business ?
23/09/14 93
How we use the BMC in the course ? Value Chain theory (Michael Porter)
Blue Ocean Strategy (Chan & Mauborgne)
Strategic and markeXng
segmentaXon
Resources-‐based view
Strategic Alliances Co-‐creaXon
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
DistribuXon strategy
Financial Plan
23/09/14 94
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Where does your venture starts from ?
23/09/14 95
Where to start from ? 1. From the Value Proposition
as it is the core of the value created in the company !
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
2. No ! From the Market Segment as it is necessary to understand the market to seize the opportuniXes and threats !
3. No ! From the Resources & Competences as they are telling us what
23/09/14 96
How is your BM ?
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 97
« Sources of the new venture ? »"Specific resources, some specific competences,
a license (IP), a specific know-‐how, …
A specific Value ProposiXon … a well-‐defined offer : you have a soluXon looking for a problem to solve, or a customer to saXsfy.
A well-‐defined segment of customer having a problem you intend to saXsfy
A low-‐cost model where more customer can access a product or a service
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ © 23/09/14 98
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
InnovaXon by the resources :
partnership & infrastructures
23/09/14 99
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Offer : New value proposiXon with impact and relaXonships with
the other bloks
23/09/14 100
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Customer : based on the real unsaXsfied needs of consumer (not or
not fully saXsfied)
23/09/14 101
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Finances : Low cost, dynamic pricing, innovaXve cost structure, yield
management, …
23/09/14 102
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You can have 3 origins of the company and these three origins involve a very
different dynamic ... You must identify this origin because it will
determine the strategy of the company and limit the possible models ...
Each induced origins and potential risks ... A fourth configuration is the low-cost one.
M1 2014 -‐ Strategy -‐ Pr Bruno M.WATTENBERGH -‐ ©
Take Away
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