Master
2020/2021
Global Strategies and New Business Models
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Category 'Best Course for New Knowledge and Skills'
Type:
Compulsory course (Master in International Business)
Area of studies:
Management
Delivered by:
Department of Management
When:
1 year, 3 module
Mode of studies:
offline
Instructors:
Polina S. Artamoshina
Master’s programme:
International Business
Language:
English
ECTS credits:
6
Contact hours:
48
Course 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 enterprisestrategy, 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 componentsBusiness 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
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