Explore

Business Model Innovation

Approx. 14 hours to complete

Save Course

Go to Course

Course Summary

In this course, you will learn how to create a successful business model by exploring various strategies and tools that can help you make informed decisions.

Key Learning Points

Understand the key components of a business model and how to create one
Explore different business models and learn how to pick the right one for your business
Learn how to test and validate your business model

Job Positions & Salaries of people who have taken this course might have

- USA: $70,000
- India: ₹9,00,000
- Spain: €35,000
- USA: $70,000
- India: ₹9,00,000
- Spain: €35,000
- USA: $75,000
- India: ₹12,00,000
- Spain: €40,000
- USA: $70,000
- India: ₹9,00,000
- Spain: €35,000
- USA: $75,000
- India: ₹12,00,000
- Spain: €40,000
- USA: $85,000
- India: ₹15,00,000
- Spain: €45,000

Learning Outcomes

Create a successful business model
Understand various business strategies and tools
Validate and test your business model

Prerequisites or good to have knowledge before taking this course

Basic understanding of business concepts
Willingness to learn and apply new strategies

Course Difficulty Level

Beginner

Course Format

Self-paced
Online
Video lectures

Similar Courses

Entrepreneurship: Launching an Innovative Business
Entrepreneurship 101: Who is your customer?
Foundations of Business Strategy

Related Education Paths

Notable People in This Field

Eric Ries
Steve Blank
Ash Maurya

Related Books

Description

Innovation goes beyond technology, products and processes. The new competitive landscape requires another, more holistic and strategic perspective, based on the concept of business models.

This course gives you access to the Odyssey 3.14 approach, a pioneering framework that will help you invent or reinvent business models. This highly innovative approach has been developed by Laurence Lehmann-Ortega and Hélène Musikas and has proven to be a very valuable methodology for start-up entrepreneurs, business unit managers and intrapreneurs alike. It offers a practical and highly effective framework and toolbox to create, invent or reinvent business models in a very disciplined way. The approach starts with a deep dive into the 3 pillars of the business model: - The value proposition (who are our customers and what are we offering them?) - The value architecture (how are we organized in order to deliver this value proposition to our customers in due time) - The profit equation (how the alignment between the first 2 pillars generates a profit) 14 directions are then explored in order to invent or reinvent a business model. Examples of the directions include “reducing clients overall costs”, “modifying the revenue stream”, “introducing a third party”, “eliminating a step in the value chain”, and “exploring new resources”. Illustrated by numerous examples, both iconic (Ikea, Tetra Pack, Grameen Bank…) and more recent (Airbnb, Zopa, Drive Now…), these directions stimulate your creativity to rigorously explore all possible innovation paths. Innovation becomes an adventure, an odyssey… hence the name of the approach! Odyssey 3.14 is the result of over 15 years of research, consulting and teaching. Over 150 companies that have successfully invented or reinvented their business model have been thoroughly analyzed and will inspire you to develop your own new, innovative business model. This course is a part of the MSIE program at HEC. If you liked it, do not hesitate to consult the other courses of the program.

Knowledge

Define what a business model is and why it enables you to approach innovation and strategy from a completely different angle
Understand the 3 components of the business model and how they are linked
Stimulate your creativity by capitalizing on the 14 directions toolbox
Analyze existing business models, create new ones or adapt existing ones using the Odyssey 3.14 approach

Outline

MODULE 1: INTRODUCTION TO BUSINESS MODEL INNOVATION
What is innovation?
Learning methods and outcomes
The 3 components of a business model
Business model vs. strategy
Other business model frameworks
About this lesson
About this lesson
What you need to know about assignments
About this lesson
About this case study
Module 1 Lesson 1- Practice Quiz
Module 1 Lesson 3 - Practice Quiz
Case study: Michelin - Graded Quiz
Module 1 - Graded Quiz

MODULE 2: THE 3 COMPONENTS OF A BUSINESS MODEL
Value proposition - Introduction and client
VP: price and perceived value
VP: detailed examples of game changing VP
Value Proposition: The value curve
Value Proposition: The value curve in practice
Value Architecture: The value chain
Value Architecture: The extended value chain
Value Architecture: Distinctive resources and competencies
Profit equation overview
Profit equation details
About this lesson
About this lesson
About this lesson
Further reading: additional examples to inspire you
Module 2 Lesson 1 - Practice Quiz
Module 2 Lesson 2 - Practice Quiz
Module 2 Lesson 3 - Practice Quiz
Module 2 - Graded Quiz

MODULE 3: 7 DIRECTIONS FOR THE VALUE PROPOSITION
Introduction to the 14 directions
Direction 1: Reduce client price
Direction 2: Reduce clients' hassle
Direction 3: Look for non-clients
Direction 4: Introduce more functionality or more emotion
Direction 5: Search other segments or industries
Direction 6: Introduce a third party
Direction 7: Modify the revenue stream
About this lesson
Module 3 Lesson 1 - Practice Quiz
Module 3 Lesson 2 - Practice Quiz
Module 3 - Graded Quiz

MODULE 4: 7 DIRECTIONS FOR THE VALUE ARCHITECTURE
Direction 8: Introduce technology
Direction 9: Modify one or several steps in the value chain
Direction 10: Eliminate or add a step in the value chain
Direction 11: Leverage strategic resources
Direction 12: Associate with competitors
Direction 13: Identify supplementors
Direction 14: Find new resources
Summary of the 14 directions
About this lesson
Summary of the 14 directions
Questions to consider to explore each direction
Module 4 Lesson 1 - Practice Quiz
Module 4 Lesson 2 - Practice Quiz
Module 4 - Graded Quiz

MODULE 5: IT'S YOUR TURN TO APPLY THE ODYSSEY 3.14 APPROACH!
Applying the Odyssey 3.14 approach
Trends in business models: Part 1
Trends in business models: Part 2
Template for Applying the Odyssey 3.14 approach
Course Evaluation: Business Model Innovation

Summary of User Reviews

The Business Model Canvas course on Coursera has received highly positive reviews from users. The course is well-structured and informative, with engaging content that is easy to follow. Many users found the practical exercises and case studies to be particularly useful.

Key Aspect Users Liked About This Course

Practical exercises and case studies

Pros from User Reviews

Well-structured and informative course
Engaging content that is easy to follow
Practical exercises and case studies are useful
Instructors are knowledgeable and responsive

Cons from User Reviews

Some users found the course content to be too basic
Course may not be suitable for those with advanced knowledge of business models
Discussion forums can be difficult to navigate
Some technical issues reported with video playback

Recommended for you

Blogging Masterclass: How To Build A Successful Blog In 2021

Build a successful blog using these proven blogging strategies for content, promotion, list building, and monetization UDEMY'S #1 BESTSELLING BLOGGING COURSE — REDESIGNED WITH ALL NEW CURRICULUM FOR 2021 AND BEYOND...

Save Course

Be entrepreneurial in Cultural Industries in the digital age

INTRODUCTION - Understanding the contours of cultural industries Cultural industries (CI): between business and general interest How is the digital revolution manifested in CI?...

Save Course

Sustainable Fashion

Sometimes when we say we work with sustainable fashion people look at us like. . . "Mmmm, is it really possible for something like fashion to be sustainable?...

Save Course