What is a "Business Model"? - Video 1
Transcript
Is it a MBA Jargon? A prototype of a venture? Meaningless management speak? A corporate fashionista? Possibly. People have been talking about business models more and more over the last decade because it is a way to understand organisations as systems that have common components to understand an organisation’s business model, think about:
- What value it creates.
- Who it serves.
- What sets it apart.
- What resources it depends upon.
- Its crucial relationships.
- The channels through which it delivers value.
- How it generates money.
- And what it spends money on.
Business model innovation is not just about changing what you sell. It is about continually re-evaluating... what value you create, with whom you collaborate, who you are, how you capture value, how you work, how sustainable you are. Modern business is a continual re-evaluation. Modern managers must become adept at “ambidextrous thinking” exploiting their current business model. Whilst also exploring new business models. Exploit + Explore. In an era of rapid change, organisations either adapt or die. Embrace the change!
Summary: what is a business model? How an organization creates + captures value? Who it serves? What sets it apart? Its key resources + relationships, its delivery channels, how it generates revenue? Its cost structure.
Retrieved from: https://www.youtube.com/watch?v=XnLaQzi8xJc
Business Models Explained - Video 2
Transcript
This videos is produced by DCI institute, story based on the book “Digital Business Modeling”. What is a business model? First of all, a model is an abstract conceptualization of something. In our case something is any business we can imagine. A business is a transaction between two systems, for example between two companies or between two persons. The one system offers a service to the other system in exchange for a gratification. This exchange process can be called “a transaction”. Mike for example gives an apple to Molly. And Molly gives Mike money for it so they exchange Apple versus money. It is that simple. The only problem is that Mike has no business as long as he is not able to repeat the transaction constantly. How can Mike repeat the transaction?
- He needs more apples. Therefore he needs someone who provides him apples in a certain quantity.
- Second, he needs more Mollies.
- Third, he needs processes which define how he gets and sells the apples.
Most business models can be described with these elements. A system that asks for something, we call it “principle”. A system that offers something and expects getting a gratification for it, and the one system which delivers something to the server. This system can be called the agent. Most business models can be described with these elements.
Retrieved from: https://www.youtube.com/watch?v=y0N_MZD8O-I
Business Model Innovation - The secret behind Amazon, Spotify and Tinder success - Video 3
Transcript
Why is amazon such a successful company? How come Tinder disrupted the overcrowded online dating market? And how did Spotify manage to make people pay for music again? Well let me give you some quick answers here in the promo video so you understand what this course is all about. Since the beginning Amazon based whole innovation strategy on constantly disrupting the sales and delivery channels which are just one part of the business model of the company. They started by disrupting channels for the books market instead of going to a library to buy and pick up your physical books, you would order them online and get them delivery by post directly to your home. That was channel innovation and Amazon kept doing this ever since by selling more and more products online. When they created the Kindle, it became yet in new sales and delivery channel for books. You can both, buy and receive books on your Kindle and now Amazon is experimenting with drone delivery which is yet another delivery channel and they also introduced the echo device with Alexa and the Dash Buttons which are both new sales channels. So, instead of going amazon.com to order something, you can now tell Alexa to do it or press your Dash button so both these devices are innovative sales channels.
Retrieved from: https://www.youtube.com/watch?v=avWVPaJFgFk
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