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Knowing Your Business model icon Knowing Your Business model

Most businesses engage in some form of business planning by thinking about strategy and performance of the business. However, far fewer think about their business model in terms of understanding, in simplest terms, how the business makes money.

More often than not the business model provides a strong basis for developing a business plan, so make sure you know the pillars of your business model.

It is important for business to identify what services your customers and end users value and understand as well as what, how and why the customer pays for your product, process
or service. Central to any business model is understanding the different ways in which
a business creates and captures value.

Explore how well you can explain your business model in terms of the offering
(i.e. product/process/service), experience (i.e. how you engage with the customer)
and configuration (how the business operates)…

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Doing Business Model Innovation icon

Doing Business Model Innovation

Over the past couple of years the notion of ‘business model innovation’ has become increasingly popular. While many businesses think about innovation in terms of their products, processes and services, business model innovation is about creating and capturing value from different aspects of the business model.