Introductory description

This module will provide students with the skills and knowledge to develop and refine a comprehensive business model that can effectively deliver value to customers and generate sustainable revenue streams. New business models have emerged in markets such as travel, accommodation, manufacturing and computing, with examples like Netflix. Uber, AirBnB, Zoom, Alibaba, TikTok, WeChat and many others showcasing the use of new channels to market, innovation and means of solving customer 'problems'. On this module, students will learn how a well designed business model can be a key driver of a company's success and competitive advantage by considering:

1. Revenue Generation: Business models provide a roadmap for generating revenue. By understanding how a company creates and delivers value to customers, the business model can identify the best sources of revenue and how to capture that value.

2. Profitability: Business models help companies determine how to optimize their cost structure to achieve profitability. By identifying key costs and developing strategies to reduce them, companies can generate a profit and remain financially sustainable.

3. Competitive Advantage: A well-designed business model can give a company a competitive advantage over its competitors. By identifying unique value propositions and developing strategies to differentiate from the competition, a company can attract and retain customers.

4. Scalability: Business models help companies identify opportunities for growth and scalability. By understanding the revenue and cost structure, companies can identify the most effective ways to scale the business and increase revenue without sacrificing profitability.

5. Innovation: Business models can also drive innovation. By identifying gaps in the market or unmet customer needs, companies can develop new products and services that align with their business model and drive growth.

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

What is a business model and why is it important.
The core types of business models.
The process of Business Model Design and supporting tools and viewpoints.
Synthesizing the elements of the model
Evaluation of Business Models
Business Model Canvas and the Lean Business Model Canvas
The Minimum Viable Proposition (MVP) and Pivots

Learning outcomes

By the end of the module, students should be able to:

• Identify, describe and synthesise the key elements of a business model
• Appraise and analyse the business model generation process
• Compare and contrast different business models as a part of a new venturing team identifying the competitive advantage of each
• Synthesise new business models as a part of a new venturing team using innovation or enhance existing business models
• Evaluate and test business model designs as a part of a new venturing team and pivot to better designs

Indicative reading list

Business Model Generation – Alexander Osterwalder & Yves Pigneur, Published by John Wiley and Sons, ISBN 978-0470-87641-1
Running Lean – Iterate from Plan A to a plan that works – Ash Maurya Published by O’Reilly ISBN 978-1-449-30517-8
Sprint – How to solve Big Problems and test new ideas in 5 days – Jake Knapp – Bantam Press – ISBN 9780593076118
The Service Innovation Handbook – Lucy Kimbell – BIS Publishers – ISBN 9789063693534
Business Models Made Easy – Don Debelak Entrepreneur Press ISBN 1-59918-041-3
Seizing the White Space – Business Model Innovation for growth and Renewal, Mark W Johnson Harvard Business Press ISBN 978-1-4221-2481-9
The Lean Startup: How Constant Innovation Creates Radically Successful Businesses Eric Ries.
This is Service Design Thinking – Marc Stickdorn BIS Publishers, ISBN 978-90-6369-256-8
From Zero to One – Peter Thiel – Crown Business – ISBN 978-0804139298

Recommended are
The Lean Startup,
Crossing the Chasm,
Angel (the book).
Other Resources below: A couple Paul Graham essays below plus a startups site, and the Kawasaki pitch template.

• www.paulgraham.com/top
• www.paulgraham.com/ds
• www.fakegrimlock.com
• guykawasaki.com/the-only-10-slides-you-need-in-your-pitch
• https://www.youtube.com/channel/UCxIJaCMEptJjxmmQgGFsnCg
• https://www.startupschool.org

Interdisciplinary

Synthesis of ideas from different diciplines to design and evaluate solutions across a wide range of markets.

International

Consider and factor in differences in markets, legal environments, social and cultural norms and their impact on the Business Model design.

Subject specific skills

The 'Design Thinking' approach to problem solving; business idea generation & evaluation; the "Lean Sprint" as a project delivery tool; business model design; competitor evaluation; Empathy Mapping; and, effective pitching of business ideas.

Transferable skills

Communication – through presentations embedded in the module, and direction setting for the team work
Dependability – reliability in contribution during the module, Teamwork – ability to work as part of a lean sprint team
Organization – Act as Sprint Master co-ordinator and allocating work for the team
Adaptability – play different team roles in the syndicate for the class
Leadership – Leading the team in different tasks
Technology Literacy – evaluating the technology readiness for the business model designed
Market Analysis
Idea evaluation methods
User centered design