Course Overview:
This course introduces a structured way to think about, analyze, and develop a sound business model. he business model encompasses your product or service, your customers, and the economic engine that will enable you to meet your profitability and growth objectives. Business model analysis is important for startups, new and established businesses which need to discover, defend or evolve their business models. An innovative product may be a feat of engineering, but that does not automatically turn it into a commercial success. What makes the difference between success in the lab and success in the marketplace is the business model. How will you create and deliver value for your customers? How will you extract some of that value for your organization?
Course Objectives:
- Analyze the business models of competitors and incumbents
- Understand what a business is and how to structure it by examining the characteristics of common types of business models—how is value created, what is the profit model, and what is the logic of the business.
- Build and present a business model for your own innovation
- Prepare a business plan by following the approach taken by a young Silicon Valley startup.
- Understand the underlying economics as well as the “flywheel” that propels a business model to success.
- Learn about the concepts of network effects and sharing economy, which underlie the logic of many business models in the technology market.
- To learn the creation of good business models
- To enable the basic insights of Innovative models
- To emphasize the application of theory to venture business decisions
