2022/2023
Global Strategies and New Business Models
Category 'Best Course for Career Development'
Type:
Mago-Lego
Delivered by:
Department of Management
When:
3, 4 module
Open to:
students of one campus
Instructors:
Anna Daviy
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
- Assess the scalability of a business model
- 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
- 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.
- Develop and implement entrepreneurial venture resourcing strategies
- Navigate entrepreneurial risk in business model development
- Utilize tools, models and frameworks to identify and pursue value-oriented business model innovations
- Utilize various approaches to opportunity identification for business model design
Course Contents
- Business model: a cornerstone of a commercial enterprise
- Business model components
- Generic and digital business models
- Business model innovation
- Business model scalability
- Global business models
- Business model validation
- Financial view of business models
- Disruptive business model innovations
- Managing strategic uncertainty in business model design
Assessment Elements
- Reflective essayThe reflective essay is prepared on the basis of the startup descriptions available at ycombinator.com
- Written examThe written exam test is based on all material covered during the course. The test includes closed-ended and open-ended questions. Total time: 40 min.
- Class activitiesIn-class assignments are an important part of the formative assessment. They help students trace their learning progress and allow the instructor to identify and remediate the knowledge gaps. As a rule, in-class assignments are designed either to enhance students’ understanding of specific terms and concepts or develop their practical skills. 1) Students are eligible to get credit for an in-class activity only if they are present in class when the assignment is due. Assignments sent via email or submitted in person before or after class will not be accepted (unless specified by the instructors). 2) Late work is not accepted. 3) No extra credit assignments are provided for missed classes.
- Individual assignment 2The individual task refers to the analysis of the White papers and distinguishing markers of BM based on these papers.
- TestThe test is based on some articles and one video you need to read and watch in advance, before the class. Some of the concepts these materials discuss have been already introduced to you, during our lectures and seminars. However, some information can be new, and you are expected to process it by yourself. Total time: 30 min.
- Individual assignment 1The first individual task implies an analysis of some texts taken from media to identify markers of BM following the Amit and Zott approach.
Interim Assessment
- 2022/2023 4th module0.25 * Written exam + 0.15 * Individual assignment 2 + 0.15 * Individual assignment 1 + 0.15 * Reflective essay + 0.075 * Class activities + 0.15 * Test
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