Delivered at:: Department of Management

Course type:: Compulsory course

When:: 1 year, 3 module

Instructor

Artamoshina, Polina S.

Full Syllabus

Abstract

The course explores the nature of business models, which form the basis of any enterprise in a market economy. A business model is a mechanism serving two purposes: 1) creating the value for organizational stakeholders (most important, customers and partners), and 2) ensuring that sufficient part of this value is retained for the organization and its owners. Understanding the essence and components of a business model is necessary for running a successful established business or developing a new innovative venture. The course covers major topics in the modern understanding of business models: their essence and role in securing competitive advantage, global strategies and business models, digital business models, key components and design of business models, business model change and innovation, technology commercialization through sustaining business models, financial representation of business models and business model change, and validation of developed business models. Working individually (cases) and in groups (team project), the students will have a chance to apply the acquired theoretical knowledge to the cases of real-world companies seeking to develop sustainable and effective business models to profit from emerging technological innovations or ongoing social changes.

Learning Objectives

Able to develop sustainable, scalable and global business models to commercialize novel ideas
Able to explain which business models can be used to deploy a new technological innovation
Able to explain the substance of business model innovation and provide current examples in high growth industries (e.g., media and entertainment, healthcare, energy, social networking, enterprise software and services)
Able to explain how different types of business models affect financial results, revenue models and resource requirements of a firm
Able to translate a business model into financing needs for a startup or established company

Expected Learning Outcomes

Utilize various approaches to opportunity identification for business model design
Navigate entrepreneurial risk in business model development
Assess the scalability of a business model
Utilize tools, models and frameworks to identify and pursue value-oriented business model innovations
Develop and implement entrepreneurial venture resourcing strategies
Demonstrate the following oral communication skills: present ideas in an organized way / effective presentation delivery techniques/effective use of media in presentations/clear, confident responses to questions during presentations. .
Demonstrate the following written communication skills: ideas presented in a logical and organized way / use appropriate spelling, grammar and writing structure / develop ideas fully and provide appropriate evidence to support their ideas in written work / create written materials that are suitable for purpose and audience.
Demonstrate the following group and leadership skills in support of team performance: demonstrate commitment to team goals / contribute meaningfully to group discussions as well as written and oral presentations / manage relationships and deadlines to achieve personal, team and course objectives

Course Contents

Business model: a cornerstone of a commercial enterprise
strategy, business model, financials & operations: Tying it all together • technology & business models • value creation mechanisms of business models • business model value matrix • business model problems of new technology-based companies
Business model components
Business model structure: the 4-quadrants framework • Market & industry analysis • Stakeholders and value propositions • Revenue model • R&D model • Production model • Go-To-Market model • Business model canvas • Lean canvas
Generic and digital business models
• Generic business model templates • Digital business models • Platforms
Business model innovation
• Innovation: general overview • Ideation & entrepreneurial design loop • Understanding your customers • Solution design & prototyping • Blue Ocean Strategy
Business model scalability
• Managing organizational growth • Business model scalability
Global business models
• Global strategy • Global business models
Business model validation
• Entrepreneurial uncertainty • Business model validation • Lean startup approach
Financial view of business models
• Financial view of business model: implications of business model choices • Investor view on financial statements
Disruptive business model innovations
• Disruptive business models • Responding to industry disruption
Establishing and growing the business model: from startup to a public company
• Opportunity-based growth management (OGM) • Entrepreneurial management system (EMS) • Entrepreneurial orientation
Managing strategic uncertainty in business model design
• Strategic uncertainty • Strategic optionality • Real options

Assessment Elements

seminar activities
essay
final project
exam
Final project presentations

Interim Assessment

Interim assessment (3 module)
0.25 * essay + 0.25 * exam + 0.25 * final project + 0.25 * seminar activities

Bibliography

Recommended Core Bibliography

Casadesus-Masanell, R., & Ricart, J. E. (2011). How to Design A Winning Business Model. Harvard Business Review, 89(1/2), 100–107.
de Jong, M., & van Dijk, M. (2015). Disrupting beliefs: A new approach to business-model innovation. McKinsey Quarterly, 3, 66–75.

Recommended Additional Bibliography

Charitou, C. D., & Markides, C. C. (2003). Responses to Disruptive Strategic Innovation. MIT Sloan Management Review, 44(2), 55–63.
Christensen, C. M., RAYNOR, M., & MCDONALD, R. (2015). What Is Disruptive Innovation? Harvard Business Review, 93(12), 44–53.
Johnson, M. W., Christensen, C. M., & Kagermann, H. (2008). Reinventing Your Business Model. (cover story). Harvard Business Review, 86(12), 50–59. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=35386627
Lund, M., & Nielsen, C. (2018). The Concept of Business Model Scalability. https://doi.org/10.5278/ojs.jbm.v6i1.2235
The accidental internationalists: A theory of born globals. (2014). Entrepreneurship Theory and Practice, 38(1), 117–135. https://doi.org/10.1111/etap.12076

Master’s Programme 'International Business in the Asia-Pacific Region'

Contacts

Global Strategies and New Business Models