2024/2025

Innovative Business Models

Type: Mago-Lego

Delivered by: Department of Marketing

When: 1 module

Open to: students of one campus

Instructors: Andrei Starkov

Language: English

ECTS credits: 3

Course Syllabus

Abstract

This course introduces students to the concept and practical application of the business model as a strategic and managerial tool. It delves deep into its analytical uses (assessing existing businesses) and design uses (creating new businesses). Central to both is the role of marketing. Strategic marketing bridges the perspectives of customers, competitors, and the company, offering vital insights into the business modeling process. Students will master the business model framework to holistically analyze organizations, with an emphasis on refining their value propositions, positioning, and market-entry strategies. They'll also cultivate the skills needed to thrive as both entrepreneurs and intrapreneurs. Our teaching approach combines theory-rich lectures peppered with illustrative case studies and hands-on group sessions centered on case method teaching, enabling students to apply learned concepts and tools through collaborative and individual tasks.

Learning Objectives

• To familiarise students with a notion of business model as a concept and as a managerial tool which can be used for both analytical (analysis of existing business) and design (development of a new business) purposes.

Expected Learning Outcomes

• Understands a concept of a business model, knows main theoretical research streams in business models studies and can list main building blocks of a business model.
• Knows examples of typical business models patterns, can list advantages and disadvantages of each pattern, can determine which business model pattern to choose under various contextual circumstances.
• Knows business models innovation strategies, can apply the such strategies in designing business models from scratch, can apply such strategies to amend existing business models
• Can use the following business models frameworks as analytical and design tools: Business Model Canvas (A. Osterwalder). Business model navigator (O. Gassmann). 4W approach (Girotra K.)

Course Contents

• Theoretical foundations of business models
• Frameworks for business model analysis and design
• Classifications of business model patterns
• Overview of business model patterns
• Managing business models

Assessment Elements

• Group Project
  Group work in teams of 4-6 members on the case study on WINK online-cinema. The task is twofold: 1) Analyse the company’s business model; 2) Propose enhancements or innovations to improve the company's business model. The group project results in a consulting style presenation document. There will be no oral defence of the project.
• Tests
  The tests will be held at the beginning of each seminar session and will be based on case studies which are assigned for respective seminars.
• Examination test
  The exam will take place offline in a computer auditorium (Startexam platform with proctoring). The test will consist of a selection of questions and assignments of various types: true/false questions (10 questions, 1 point per correct answer), multiple choice questions (5 questions, 3 points per correct answer), checkboxes (3 questions, 5 points per correct answer, partly correct answers don't count), connections (2 questions, 5 points per correct answer, partly correct answers don't count), open questions (3 questions, 10 points max per answer) and essay (1 question / 20 points max). For open questions and for essay the following evaluation criteria will be used: quality of argumentation, usage of the concepts covered in the course, completeness of the submission. * Maximum number of points: 100 * Duration: 80 minutes * Order of task completion: Linear (you will not be able to come back and change your answer so plan accordingly) * This is a closed book exam. * Preparation: A checklist is available for each topic (what you need to know / what skills you need).
• Extra assignments
  Additional assignments are meant to give students an opportunity to earn additional points which will be added up to the final grade. These assignments are optional and will be designed around topical issues of business models scientific and research discourse.
• Collaborative work on Perusall
  Perusall is a social learning tool which helps students to engage with the course materials and make reading a social experience. A selection of articles and other content pieces (e.g. podcasts, videos) will be offered for reading, listening and watching, leaving coments and engaging into discussions with peers.

Interim Assessment

• 2024/2025 1st module
  0.2 * Collaborative work on Perusall + 0.4 * Examination test + 0.2 * Group Project + 0.2 * Tests

Bibliography

Recommended Core Bibliography

• A business model for entrepreneurship, Verstraete, T., 2011

Recommended Additional Bibliography

• Business model generation : a handbook for visionaries, game changers, and challengers, Osterwalder, A., 2010
• Evolving business models : how CEOs transform traditional companies, , 2017

Authors

• STARKOV ANDREY GENNADEVICH
• FILIPSKAYA ELENA VLADIMIROVNA