Business Model Innovation (BMI) Workshop Outline is designed for a session on creating and understanding innovative business models. This outline is designed to be interactive and provide both theoretical knowledge and practical application through group activities.
Duration: 1 Day (Can be customized to half-day or multiple sessions)
Session 1: Introduction to Business Model Innovation (60 minutes)
Objective:
– Understand the concept and importance of Business Model Innovation.
– Explore how innovation in business models can lead to competitive/collaborative advantage.
Topics and Casework:
1. What is Business Model Innovation?
– Definition and key concepts.
– The difference between product/service innovation and business model innovation.
– Why business model innovation is crucial in today’s business landscape.
2. Examples of Successful Business Model Innovations:
– Case studies (e.g., Netflix, Airbnb, Uber, Amazon).
– Discussion of industries that have been disrupted by innovative business models.
3. The Role of Digital Transformation in BMI:
– How technology is reshaping traditional business models.
– The impact of emerging technologies.
Activity (Casework):
– Team Discussion: Participants break into Teams to discuss examples of business model innovation they’ve seen or experienced in their industries.
– Q&A Session to clarify concepts and build foundational knowledge.
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Session 2: Tools and Frameworks for Business Model Innovation (90 minutes)
Objective:
– Introduce participants to practical tools and frameworks for innovating business models.
Topics:
1. Business Model Canvas (BMC) – Overview and Application/Evaluation:
– Introduction to the BMC and its nine building blocks.
– How the BMC helps visualize, design, and innovate business models.
2. Value Proposition Design:
– Focus on how to create value for customers.
– Tools for identifying customer pains, gains, and jobs-to-be-done.
3. Evaluation Tools for BMI:
– SWOT Analysis: Using SWOT to identify opportunities for innovation.
– Value Innovation: How to create uncontested market space.
– Lean Canvas: A simplified version of the BMC for startups and new ventures.
Activity:
– Team Exercise (Casework): Use the Business Model Canvas to map out a current business model (can be from the company or industry of choice) and evaluate to identify areas where innovation is possible.
– Interactive Polling or Quiz on key takeaways from the tools.
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Session 3: Identifying Opportunities for Innovation (Strategic Entrepreneurship Framework) (90 minutes)
Objective:
– Learn how to identify opportunities and gaps in current business models.
– Understand how to think creatively and strategically about innovation.
Topics:
1. Market Trends and Consumer Behavior:
– Identifying market shifts and customer demands.
– The role of customer-centric innovation.
2. Competitive Landscape Analysis:
– Mapping competitors’ business models.
– Identifying market opportunities for differentiation and disruption.
3. Innovation in Revenue Models and Cost Structures:
– How businesses can innovate in pricing strategies, subscription models, or cost-cutting initiatives.
Activity:
– Team Exercise: Participants use the SWOT analysis or other strategic frameworks to identify opportunities for business model innovation in their own organizations.
– Pitch Session: Groups present their findings and ideas for innovation to the rest of the workshop participants.
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Session 4: Testing and Implementing New Business Models (90 minutes)
Objective:
– Understand the process of validating and implementing a new business model.
Topics:
1. The Innovation Funnel and Stages of Business Model Implementation:
– How to move from ideation to implementation.
– The role of experimentation and validation (e.g., minimum viable product, market testing).
2. Metrics for Measuring Business Model Performance:
– How to track and measure the success of a new business model (KPIs, customer feedback, financial metrics).
3. Overcoming Barriers to Innovation:
– Common challenges (organizational resistance, resource allocation, market uncertainty).
– Strategies for overcoming these challenges.
Activity:
– Business Model Prototyping: Participants prototype a new business model using lean principles and validate it with hypothetical customer feedback or scenario testing.
– Team Discussions: How to deal with potential barriers in their respective industries or companies.
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Session 5: Wrap-Up and Action Plan (60 minutes)
Objective:
– Summarize key insights and create an actionable plan for business model innovation.
Topics:
1. Summary of Key Learnings:
– Recap of the most important takeaways from the workshop.
2. Developing an Action Plan:
– Participants outline their next steps for implementing business model innovation in their organizations.
– Setting short-term and long-term goals for innovation.
Activity:
– Action Plan Exercise: Each participant develops a one-page action plan that outlines how they will apply what they’ve learned to their current business model.
– Closing Remarks: Encourage participants to continue exploring and iterating on business models in their organizations.
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Additional Notes:
– Materials Provided: Participants receive templates of the Business Model Canvas, Lean Canvas, and other relevant resources.
– Follow-Up: Offer a follow-up session or resources to help participants with further support as they implement their business model innovations.
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This outline can be adapted depending on the specific goals of the workshop, the participants’ level of knowledge, and the time available. The aim is to provide both theoretical knowledge and practical tools to help participants innovate and adapt their business models effectively.
Avanti Fontana, in interaction with ChatGPT (22 November 2024)
avantifontana at gmail dot com
