Elements that are central to the business model – Business Management
Complete a full business model canvas analysis for your inspiration company as it exists today and “tell the story” of the value currently created for customers via the existing model. You must do the necessary research to fill in each of the blocks with the elements that are central to the business model.
Next, apply one or more of the innovation techniques discussed in class to date (e.g. Ways to Grow, DOBLINs 10 Types, Blue Ocean Strategy, Epicenter movement) to the canvas until you find a way to modify the model that might yield a viable business model innovation for the company. You don’t have to fully map the new model to the canvas, but you should write about the technique(s) used to arrive at this possible innovation and describe how you believe it meets the criteria of a true business innovation that might be a re-invention of the current model.
Complete a type-written summary of your business analysis and innovation process. In the document, be certain to focus on any change in value created by the suggested modifications to the model and also note any changes to customer segments that would occur if the innovation were adopted.
