Business Modeling Process

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Business Modeling Process

  1. 1. FITT (Fostering Interregional Exchange in ICT Technology Transfer)
  2. 2. Business Modeling <ul><li>Business Modeling stands as a process to design a sustainable business model . This process is in essence a way to promote a business culture in a research context and a set of tools to facilitate the design of a business model. </li></ul><ul><li>We describe best the business modeling effort in a 3 step process: </li></ul><ul><li>A business model (BM) , the outcome of this process, is a representation of how an organization makes money, or intends to. It is sustainable when each of its stakeholders is willing to further the business relationship it entails. </li></ul><ul><li>Based on: http://www.businessmodelalchemist.com/2008/07/what-is-business-model-2.html </li></ul>
  3. 3. Mobilize <ul><li>The first step to business modeling is aims at creating awareness around the starting Technology Transfer effort, in order to mobilize the most relevant people. </li></ul><ul><li>It typically </li></ul><ul><ul><li>sets the scope of the technology transfer work, and </li></ul></ul><ul><ul><li>assembles the best team to make the right business choices </li></ul></ul><ul><ul><ul><li>the sole TTO team @ Imperial College (see practice “ Business model decision ”) </li></ul></ul></ul><ul><ul><ul><li>An ad-hoc team of market and innovation experts @ Tudor (see “ Business model design ”) </li></ul></ul></ul><ul><li>This steps is lightly addressed in the practice “business model design”, that proposes a structuring framework. Awareness creation is a main topic of the Human Resource Management activity in FITT Toolbox. </li></ul>
  4. 4. Design <ul><li>The Design step of the business model design process aims at researching, generating and testing viable business model options, and selecting a good one to pursue the Technology Transfer effort with. </li></ul><ul><li>A set of techniques supporting this step are described in the Business model design practice </li></ul><ul><li>How to better work jointly with industry contacts is illustrated by the Entrepreneur In Residence program, part of the Business model decision practice . </li></ul>
  5. 5. Manage <ul><li>The manage step of our process aims at </li></ul><ul><ul><li>implementing the business model prototype in the field and </li></ul></ul><ul><ul><li>adapting it in response to the market evolutions. </li></ul></ul><ul><li>Is it the daily work of executives to manage the business. Strategic concerns of the 2 business model practices ( Business model design practice & Business model decision practice ), and IP management concerns of the IP Management activity in the FITT toolbox come in handy. </li></ul><ul><li>The SIRUNA business case provides an example of a business model managed to exploit open source software (see “ Open source business model ”). </li></ul>
  6. 6. Suggested Readings <ul><li>Link to bibliography </li></ul><ul><li>Link to code book </li></ul><ul><li>Business Model </li></ul><ul><li>Transfer Opportunity </li></ul><ul><li>Value Proposition </li></ul><ul><li>Link to related websites </li></ul><ul><ul><li>http:// www.businessmodelalchemist.com / </li></ul></ul><ul><ul><li>http:// en.wikipedia.org/wiki/Business_model_innovation </li></ul></ul>

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