This presentation is an introduction of business model innovation (BMI), specifically, the cases of BMI in project based organizations, such as construction contractors.
Moving the Needle Forward by Craig SettlesAnn Treacy
1) Broadband access is an economic development asset that increases in value with proper investment and brings added value by speeding communication, changing how tasks are done, and transforming community images.
2) Communities must educate constituents on broadband possibilities and benefits to meet connectivity needs and support developing this asset once built.
3) Achieving broadband access requires perseverance, champions, a core team, lieutenants, and an evolving plan but yields rewards like attracting new businesses, growing local companies, and increasing individual earnings.
ISBE 2018 The Role of a Digital Hubs in University Industry CollabAndrew Hirst
Presentation at the 2018 conference, Birmingham UK.
“Putting research into policy and practice”
The Institute for Small Business and Entrepreneurship (ISBE) is a network for people and organisations involved in small business and entrepreneurship research, policy, education, support and advice.
Harvey Koeppel, Executive Director of the Center for CIO Leadership gave this presentation at Pepperdine University’s free conference, “From Information Systems to Innovation Systems: Establishing the Next Generation Information Systems Department,” on Wednesday, October 12, 2011. The conference was sponsored by the Center for Applied Research at the Graziadio School of Business and Management.
Business leaders are engaging labor differently - Is your IT ready?JoAnna Cheshire
The document discusses emerging approaches to managing labor, including crowdsourcing, microwork, hackathons, and alternative models like the Hollywood model and open allocation that give employees more autonomy. It also covers enabling technologies like virtual desktops and knowledge management tools that can facilitate these new approaches. The goal is to help organizations engage resources in new ways to drive innovation, performance, and value creation.
UXIndia14 | Workshop: UX as Business Strategy | lfriedlandLiam Friedland
This document discusses moving UX work to a more strategic orientation within organizations. It provides a conceptual framework that views UX activities through three lenses: strategic, organizational, and operational. The strategic lens involves understanding business forces, inflection points, and positioning UX as an innovation driver. The organizational lens focuses on effective cross-team collaboration and joint initiatives. The operational lens covers measuring UX outputs and investments. An example case study illustrates how to apply this framework in analyzing a company facing disruptive forces and needing to transform its product approach.
Revenue models of personal data platform operatorsLaura Kemppainen
This presentation was presented in the 24th Nordic Academy of Management Conference in Bodø in the 24th of August 2017. The presentation is based on a conference/working paper and on research done in Tekes funded Digital Health Revolution project in Finland.
This document provides an overview of Infosys Consulting in 2006 and the IT services industry context. It discusses Infosys Consulting's business model of integrating business consulting and technology implementation using the "1-1-3" model combined with Infosys' Global Delivery Model. While Infosys Consulting was experiencing high revenue growth, it was still in an investment phase and facing increasing losses. The document performs a SWOT analysis and discusses challenges around profitability and differentiating Infosys Consulting in the industry. It suggests Infosys should leverage Infosys Consulting to strengthen relationships with existing customers and position itself for future industry transformations.
Innovation in the Internet of Things (IoT) provides various opportunities for large, medium, and small-sized companies; however, its realization is still challenging for these companies. Therefore, an engineering design methodology for IoT innovation is required, especially for non- information and communication technology experts. In this paper, we call the engineering design method for IoT innovation “IoT innovation design method,” and discuss its requirements and perspectives with reference to previous studies. Then, this paper proposes a concrete IoT innovation design method with an example. This paper contributes to existing studies not only by proposing a new specific method but also by clarifying the general requirements and perspective (viewpoints) of IoT innovation design methods.
Moving the Needle Forward by Craig SettlesAnn Treacy
1) Broadband access is an economic development asset that increases in value with proper investment and brings added value by speeding communication, changing how tasks are done, and transforming community images.
2) Communities must educate constituents on broadband possibilities and benefits to meet connectivity needs and support developing this asset once built.
3) Achieving broadband access requires perseverance, champions, a core team, lieutenants, and an evolving plan but yields rewards like attracting new businesses, growing local companies, and increasing individual earnings.
ISBE 2018 The Role of a Digital Hubs in University Industry CollabAndrew Hirst
Presentation at the 2018 conference, Birmingham UK.
“Putting research into policy and practice”
The Institute for Small Business and Entrepreneurship (ISBE) is a network for people and organisations involved in small business and entrepreneurship research, policy, education, support and advice.
Harvey Koeppel, Executive Director of the Center for CIO Leadership gave this presentation at Pepperdine University’s free conference, “From Information Systems to Innovation Systems: Establishing the Next Generation Information Systems Department,” on Wednesday, October 12, 2011. The conference was sponsored by the Center for Applied Research at the Graziadio School of Business and Management.
Business leaders are engaging labor differently - Is your IT ready?JoAnna Cheshire
The document discusses emerging approaches to managing labor, including crowdsourcing, microwork, hackathons, and alternative models like the Hollywood model and open allocation that give employees more autonomy. It also covers enabling technologies like virtual desktops and knowledge management tools that can facilitate these new approaches. The goal is to help organizations engage resources in new ways to drive innovation, performance, and value creation.
UXIndia14 | Workshop: UX as Business Strategy | lfriedlandLiam Friedland
This document discusses moving UX work to a more strategic orientation within organizations. It provides a conceptual framework that views UX activities through three lenses: strategic, organizational, and operational. The strategic lens involves understanding business forces, inflection points, and positioning UX as an innovation driver. The organizational lens focuses on effective cross-team collaboration and joint initiatives. The operational lens covers measuring UX outputs and investments. An example case study illustrates how to apply this framework in analyzing a company facing disruptive forces and needing to transform its product approach.
Revenue models of personal data platform operatorsLaura Kemppainen
This presentation was presented in the 24th Nordic Academy of Management Conference in Bodø in the 24th of August 2017. The presentation is based on a conference/working paper and on research done in Tekes funded Digital Health Revolution project in Finland.
This document provides an overview of Infosys Consulting in 2006 and the IT services industry context. It discusses Infosys Consulting's business model of integrating business consulting and technology implementation using the "1-1-3" model combined with Infosys' Global Delivery Model. While Infosys Consulting was experiencing high revenue growth, it was still in an investment phase and facing increasing losses. The document performs a SWOT analysis and discusses challenges around profitability and differentiating Infosys Consulting in the industry. It suggests Infosys should leverage Infosys Consulting to strengthen relationships with existing customers and position itself for future industry transformations.
Innovation in the Internet of Things (IoT) provides various opportunities for large, medium, and small-sized companies; however, its realization is still challenging for these companies. Therefore, an engineering design methodology for IoT innovation is required, especially for non- information and communication technology experts. In this paper, we call the engineering design method for IoT innovation “IoT innovation design method,” and discuss its requirements and perspectives with reference to previous studies. Then, this paper proposes a concrete IoT innovation design method with an example. This paper contributes to existing studies not only by proposing a new specific method but also by clarifying the general requirements and perspective (viewpoints) of IoT innovation design methods.
Business leaders are engaging labor differently - Is your IT ready?InnoTech
This document discusses emerging management models and trends in innovation. It provides definitions and examples of concepts like open allocation, hackathons, crowdsourcing, microwork, and new organizational models like holacracy. It summarizes trends in how businesses are engaging labor in new ways and the need for IT to support more agile and innovative approaches. Examples are given of companies that use open allocation, self-management, and holacracy to organize work.
Discover - Mapping Your Hybrid Cloud JourneyLaurenWendler
This document discusses mapping your cloud journey and outlines key steps in a successful cloud undertaking:
1. Envision the possibilities and how cloud can provide business value.
2. Evaluate your current state and identify gaps to close to achieve your required future state.
3. Outline your service delivery strategy and technical blueprint to approach your services portfolio and make cloud decisions.
4. Design your roadmap for success including cost/benefit analysis, roles and governance, and what your cloud solution and operations will look like.
Business leaders are engaging labor differently - Is your IT ready?JoAnna Cheshire
This document discusses emerging trends in how businesses are engaging labor and managing organizations. It notes that technology enables and accelerates changes businesses want to implement. Various approaches to alternative labor models are presented, including hackathons, crowdsourcing, the Hollywood model of project-based work, microwork, and open allocation of employee time. The document argues that businesses need to embrace more flexible, networked models to access talent and innovation in a digital economy.
Developing a Modernization Strategy: Evaluating the Options by Chris KoppeFresche Solutions
Chris Koppe, VP of Corporate Strategy at Fresche Legacy presented Developing a Modernization Strategy: Evaluating the Options during iBelieve 2015.
This presentation covers:
- Modernization strategies
- Establishing goals and objectives
- Strategy definition
- Planning
- Getting funding and support
Business leaders are engaging labor differently - Is your IT ready?InnoTech
This document discusses how businesses are innovating and engaging labor differently, requiring IT organizations to change. It defines innovation as implementing new ideas that create value by solving unmet needs. The document notes that innovation seeks efficiency, efficacy, and uniqueness. It discusses trends like the sharing economy, freelance economy, and Hollywood model of bringing in specialized talent temporarily for projects. The Hollywood model embraces economic specialization and outsourcing non-core functions. The document advocates that IT departments shift from being cost centers to value creators to enable this new way of working.
International Target Operating Model DesignChris Oddy
International Target Operating Model Design
Chris Oddy
SLIDE 1
• A Plan is only of value if it is successfully implemented
• A good Strategy is important… A Great Operating Model is more beneficial
• A Target Operating Model ensures everyone is aligned and knows what to do
SLIDE 2
What is an Operating Model?
• A breakdown of a business into its key components
• A framework for how an organization operates in terms of people, processes and technology
• A basis for formulating strategy and making informed decisions
What Is a Target Operating Model?
• A structure that dictates how the business should be organized
• A target state informed by strategy and opportunities for optimization
• An operational design that depicts how business objectives will be achieved
• A basis for developing operational improvement and transformation plans
• A framework that enables goal congruence
SLIDE 3
Why is a Target Operating Model Important?
• Without a Target Operating Model operations often evolve and do not fully align to the business vision and strategy
– This approach might work initially, however it has significant associated risk
– Clients and products are added, new markets are entered and acquisitions are integrated.
– People, processes and technologies build and a complicated web of inefficient and ineffective systems and processes is created
• A Target Operating Model based on the business strategy often leads to a significant competitive advantage:
– Faster decision making in areas such as launching new products, services and partnerships
– Improved client service through greater roles and responsibility definition across the organization
– Better investments as they can more easily be assessed and prioritized based on business impact
– Reduced risk from a more controlled and stable operating environment
– Higher colleague engagement and alignment from clearer strategic execution plans
– Greater long-term operational efficiency and optimization
• Businesses without a Target Operating Model typically:
– Deploy increasingly greater resources simply to manage the issue resolution and operational deficiencies.
– Decisions are slow due to the lack of clarity as to how to implement strategies
– Costs of adapting technology and processes increase exponentially
SLIDE 4
Where does the Target Operating Model Fit In?
• A Corporate Strategy must be reflected in a Target Operating Model for the Strategy to be successfully implemented
• The Target Operating Model comes below the vision and corporate strategy and above the operational planning and execution.
• The Target Operating Model can be created in layers
• The Target Operating Model for corporate, country and function level operations must be aligned and congruent with the Corporate Strategy
SLIDE 5 and 6
Focus Areas for Transformation and Optimization
1. Client Valu
This document summarizes a presentation on business model design, discovery, reinvention and innovation. It covers several topics:
- Different frameworks for analyzing and designing business models.
- The concepts of uncertainty vs. risk and how the lean startup approach aims to turn uncertainties into risks through testing hypotheses.
- Business model innovation, including risk-driven and ecosystem-based approaches.
- Case examples are discussed like the iPod's minimum viable ecosystem approach to building out complementary elements.
OUCC2015 Service Oriented Enterprise (SOE)Colin Bell
Extending Service Oriented Architectures (SOA) to the whole organization from first principles in the Cloud (*aaS), through ITIL, and eventually landing at architected business services.
Peter Weill discusses four pathways to digital business transformation:
1. Operational Excellence - Focus on efficiency through automation and standardization.
2. New Organization - Make major changes through organizational "explosions" like overhauling decision rights.
3. Customer Experience - Prioritize the customer experience through initiatives like omnichannel capabilities.
4. Stair Steps - Incremental changes through a series of smaller steps rather than one big transformation.
He found that globally most companies are about one-third complete in their transformations, with Australia similar at 26-38% on average across the four pathways.
Basics of BI and Data Management (Summary).pdfamorshed
Basics of Business Intelligence and Data Management
BI Architecture
How BI works?
DMBOK framework
what is Data literacy
Data quality
Data Governance
what is self-service or modern BI
Power BI Architecture
How Power BI Works
BI Implementation steps
CIM – 21st Century Tools, Technologies and Processes for Infrastructure Projects / Fernanda Leite. Presented at the 2016 CTR Symposium: http://ctr.utexas.edu/ctr-symp/
Digital Mastermind provides a holistic framework for navigating digital transformation. It combines best practices from different industries into a cohesive model covering vision, strategy, capabilities, and change management. The framework includes tools like the Open Digital Maturity Model for assessing capabilities, value stream mapping, and design thinking principles. The goal is to help organizations successfully realize their digital ambitions.
UX India 2014 | Keynote | UX Strategy: Organizing for InnovationLiam Friedland
The document discusses taking a systems perspective when organizing for innovation. It encourages viewing an organization's parts like UX outputs, personnel, and disciplines as interrelated systems that influence each other. Taking multiple perspectives can broaden discussions and make the innovation process more systematic. The document also suggests building an innovation culture and scaling teams to promote organizational renewal through design and a continuous experimentation process.
This document discusses the benefits of using the NBI (Networked Business Initiative) platform for consulting work. The NBI platform allows companies to collect data about their digital maturity across different business functions and technologies. It then provides personalized benchmarking dashboards.
The summary discusses how consultants can benefit from the NBI platform in three key ways:
1) It provides leads from companies that sign up through the consultant's branded link.
2) It allows consultants to request access to individual client company data and dashboards to improve consulting services.
3) Consultants can use global benchmarking data from the platform to strengthen pitches and presentations to clients.
The document describes The Value Management Platform, which provides a structured approach to discover business ideas, rationalize strategy, and analyze scenarios for successful business models. It allows users to explore alternative ideas and value propositions through testing what-if scenarios in real-time based on real data. The platform digitizes value management and provides visualization tools like a value management dashboard. It is presented as a solution to help enterprises innovate and transform continuously to create and secure value for customers.
Digital Mastermind provides a holistic framework for navigating the digital transformation journey. It introduces the Digital Mastermind Playbook, which outlines key actions and strategies for ensuring a successful digital transformation. The Playbook is not a script or checklist, but rather a series of "plays" that can guide an organization through various transformation stages. Digital Mastermind aims to bring together best practices from different industries into a cohesive model for combining new technologies and becoming future ready.
This document provides a summary of Stephen Aris's experience and services in user experience design, service design, and research. Over the past few years, he has led large-scale business transformation projects for clients in various industries, acting as the connection between business, customers, and technology teams. His work involves increasing revenue, efficiency and usability while reducing costs and risks. He employs a range of UX methods including user research, prototyping, and testing to help businesses solve problems and achieve their goals.
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
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• A good Strategy is important… A Great Operating Model is more beneficial
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• A target state informed by strategy and opportunities for optimization
• An operational design that depicts how business objectives will be achieved
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• A framework that enables goal congruence
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2. Learning Objectives
2
Business Model/Innovation
• What is BM?
• BM canvas
• BMI
Project-based organization
• What is PBO?
Case studies of BMI in PBOs
• Prefabricated construction
• Capsule hotel
• BIM 360
3. Business Model Definition and Functions
• “A business model articulates the logic and
provides data and other evidence that
demonstrates how a business creates and
delivers value to customers.” (Teece, 2009)
3
5. Uber BM
5
Key
partners
Key
activities
Value
propositions
Customer
relationships
Customer
segments
Key resources Channels
Cost structure Revenue streams
•Design of service
and app
•Easy to order cab
and short waiting
time
•Affordable prices
•Cash free
•Easy to make
additional money
•Mobile app
•Website
•Dynamic pricing
•Pay per ride charges
•Drivers
•Payment
processors
•Mapping data
providers
•Local
authority
•Platform
development
•Driver
recruitment
•Driver payment
•Customer
support
•Uber platform
•Pricing
algorithm
•Routing
algorithm
•Platform development
•sales & marketing
•Passengers
•Drivers
•Social media
•Customer
feedback
•Salaries
6. Why a Good Business Model Matters?
6
• Clarify
-Your key customers-who they are, what they need
-What you offer them in the marketplace-your unique value
proposition
-The infrastructure you need to deliver your offer-your
activities, resources and partners
• Help you develop
-Your revenue and cost structure
(McNall, 2013)
7. Business Model Innovation
A business model innovation is the change of an
existing business model or the creation of a new
business model that better satisfies the needs of
customers than existing business models.
7
9. Why Business Model Innovation
Matters?
•It represents an often underutilized source of
future value
• Competitors might find it more difficult to
imitate or replicate an entire novel activity
system than a single novel product or process
• Because business model innovation can be
such a potentially powerful competitive tool,
managers must be attuned to the possibility of
competitors’ efforts in this area
9(Amit and Zott, 2012)
10. Business Model Innovation (Uber)
10
Key
partners
Key
activities
Value
propositions
Customer
relationships
Customer
segments
Key resources Channels
Cost structure Revenue streams
•Design of service
and app
•Easy to order cab
and short waiting
time
•Affordable prices
•Cash free
•Easy to make
additional money
•Mobile app
•Website
•Dynamic pricing
•Pay per ride charges
•Drivers
•Payment
processors
•Mapping data
providers
•Local
authority
•Platform
development
•Driver
recruitment
•Driver payment
•Customer
support
•Uber platform
•Pricing
algorithm
•Routing
algorithm
•Platform development
•sales & marketing
•Passengers
•Drivers
•Social media
•Customer
feedback
•Salaries
11. Project-based Organizations
•A variety of organizational forms that involve
the creation of temporary systems for the
performance of project tasks (Sydow et
al.2004)
•A fast and flexible mode of organizing
knowledge resources
•Intent to speed up work by diminishing
hierarchy and bureaucracy
•Allow for low-cost experiments
11
12. Project-based Organizations
•Found in a wide range of industries
• Consulting and professional services e.g.
architectural design
• Cultural industries e.g. film-making
• High technology e.g. software
• Complex products and systems e.g. construction and
transportation
12(Sydow, Lindkvist and DeFillippi, 2004)
13. Organizational Structure of a Construction Firm
13
General Manager
Other
functional
divisions
Operations
Human
resources
etc…
Project
Executives
Project
Managers
Project
Engineers
Project
Superintendents
Logistics
Business
development
/Marketing
http://www.turnerconstruction.com/
14. Levels of BMI in Project-based Organizations
14
Project Firm Inter-firm
15. Prefabricated Construction (Project Level)
15
30-Story hotel (T30) built in 15 days (Wuhan, China), 2011
https://www.youtube.com/watch?v=rwvmru5JmXk
16. Capsule Hotel (Project Level)
The global capsule or
pod hotels market was
worth $159 million in
2016. (WiseGuy
Research Consultants,
2017)
16
-Yotel, London
-Nitenite, Birmingham
•“Customers do not mind small rooms provided
they are in a prime location”. (The Economist,
2007)
17. Building Information Modelling
•BIM is changing the culture between the client
and the rest of the supply chain: from the
adversarial business practices to a
collaborative approach
•The key to realising this vision is to create
simple, effective cooperation among the
design, construction and operations aspects of
the infrastructure lifecycle.
17
21. Assignment
•Carillion
-Analyze the business model using business model
canvas
-discuss the relationship between its business model
and the problems it is facing?
-if you were the CEO of Carillion, what you would do
to save Carillion?
•Develop your own business model
-if you want to start a new business, determine your
business model
-what innovation you can make?
21
22. References
• Amit, R., & Zott, C. (2012). Creating value through business model innovation. MIT
Sloan Management Review, 53(3), 41.
• Nagji, B., & Tuff, G. (2012). Managing Your Innovation Portfolio: People throughout
Your Organization Are Energetically Pursuing the New. But Does All That Activity
Add up to a Strategy? Harvard Business Review, 66-73.
• Sydow, J., Lindkvist, L., & DeFillippi, R. (2004). Project-based organizations,
embeddedness and repositories of knowledge. Organization Studies, 25(9): 1475–
1489
• Teece, D. J. (2010). Business models, business strategy and innovation. Long
range planning, 43(2), 172-194.
• The Economics. 2007. Thinking Small. http://www.economist.com/node/10150321
• Whitley, R. (2006). Project-based firms: new organizational form or variations on a
theme?. Industrial and corporate change, 15(1), 77-99
• Wise Guy Consultants PVT. Ltd. (2017). Capsule Hotels Global Market 2017 Key
Players,Share, Trend, Segmentation and Forecast to 2022.
https://www.einpresswire.com/article/395772393/capsule-hotels-global-market-
2017-key-players-share-trend-segmentation-and-forecast-to-2022
22
24. Examples
• Newspapers-> websites
• Amazon: from books to everything
• Some construction contractors: from
construction to construction management and
engineering consulting services
• Prefabricated construction
• Building information modeling
• …
24
25. Types of PBOs
25(Whitley, 2006)
Separation and
stability of
work roles
Singularity of goals and outputs
Low High
Low
Organizational
PBOs producing multiple
and varied outputs with
different and changeable
skills and roles, e.g. strategic
consultancy
Precarious
PBOs producing risky,
unusual outputs with
varied and changeable
skills and roles, e.g.
biotechnology
High
Craft
PBOs producing multiple,
incrementally related
outputs with distinct and
stable roles and skills, e.g.
furniture and machinery
Hollow
PBOs producing single
outputs and coordinating
tasks through
standardized, separate
and stable roles and
skills, e.g. construction
Editor's Notes
Good afternoon, everyone. I am Yuting Chen, I am currently a postdoc fellow in the University of Toronto. It is very pleased to meet u all Today. Can anyone hear me clearly?
Today, I am going to give you a lecture about business model innovation in project based organizations. If you have any questions during the lecture, just ask directly. Before the lecture, I want to ask if any one wants to start a new business some day or anyone who already did it? Raise you hand please. Very good. Then you must feel lucky to attend the lecture today, because business model is really important for starting a business.
In this lecture, you will learn what is business model, and how to analyze business model using a business model canvas. You will also learn what is business model innovation and how to achieve business model innovations. In the end, definition of project-based organizations will be given, and some business model innovation cases in project based organizations are given.
The first question is what is a business model. A business model is about how a company creates value for itself, while delivering products or services to customers.
It has two major functions. that is value creation and value capture. For value creation, a company can provide some products or services to customers. Value capture means a company can earn a profit from the product or service. As shown in the cartoon, the aim of any business is making profit, money equals to happiness. Business model can help you decide whether a business is feasible or not.
Business model canvas is a widely used tool to analyze the business model. The most important part is value proposition, that is what you can offer to customers. For example, the shoe company which is a Canadian shoe company provides good quality shoes with cheaper price. Then after you have some great ideas in mind, you need to think about who are your customers and why they want to buy your products/services. And then, you need to consider how you are going to deliver your products/services to your customers, that is channels. Ok. So now you have product idea, you know who are your customers, then you need to think about how you are going to keep and grow your customers, that is customer relationships. And then you need to consider how you are going to make money from your products/services, that is revenue stream, which is related to financial viability. The next step is to be aware of what kind of infrastructure you need to provide the products/services, including key partners, key activities and key resources. And then after knowing all of the instrastrucure you need, you can estimate all the cost and expenses and then you can estimate your profit. Finally, you will decide whether your business idea is feasible or not.
This is why business model is so popular now, because it is a powerful tool to analyze your business.
In this slide,I will use Uber as an example to show you how to use business model canvas. Uber is a technology company which provides a service to help customers order a cab faster and cheaper. It has taken $12 billion over 15 rounds of investment, and has a reported valuation of nearly $70 billion. To provide the service, It developed an app which can be easily installed on the mobile phone.
Did anyone use Uber before? And can anyone tell us why you used Uber instead of taxi? Yes. Great.
What uber can offer to customers includes a design of service and app, and it is much easier to order cab and shorter waiting time. And the price is cheaper than taxi. It is cash free. And it is easy to make additional money for drivers.
The second question is who are ubers’ customers? Both passengers and drivers.
And then channels, which means how uber deliver its service to its customers? That is the mobile app and website.
And then customer relationships, which means how uber get, keep and grow its customers? it may includes social media, advertisement, customer feedback.
And the revenue streams, which means how uber makes money? Part of it is the dynamic pricing. Which means if the demand is high, and drivers are less than the demand, then price will go up.
And then its key resources, which means what uber need to run its business model? It includes a platform, pricing algorithm, and routing algorithm,
And then its key partners includes drivers, payment processors, mapping data providers, and etc.
Key activities including platform development, driver recruitment, etc.
Cost structure : includes the cost of platform development, sales and marketing, and employee salaries.
Ok. So far, we have learned what is business model, which is about how a company creates value for itself while delivering products and services to customers. And we also know how to use busness model canvas to analye business model.
Then the next question is why we need a business model? It is because a good business model can describe all the pieces of a business. From key customers, to what you can offer to the customers, and to the infrastructure you need to deliver your offer, and finally the revenue and cost structure.
Before we enter a new business, it is really important to figure out all the important things. Otherwise, we need to wait. As shown in this cartoon, some one thought he has found a new market, however, it is just him actually.
Next is about business model innovation. A business model innovation is the change of an existing business model or the creation of a new business model that better satisfies the needs of the customer than existing business models.
This cartoon has shown very funny things. Actually in old times, people did use squared wheels for some time. Then people realized a round wheel is much much better. Thus, we can see that innovation is really important. In addition, the two guys in the cartoon refuse to do any changes, which implies that peoples’ attitudes toward innovation is also very important.
Some researchers have used this figure to define the innovation stages. The horizontal axis is resources and products, and the vertical axis is market and customers. The first stage is core which is optimizing existing products for existing customers, and the second stage is called adjacent, which means expanding from existing business into “new to the company” business.. And the last stage is defined as business model innovation. Which means developing breakthroughs and inventing things for markets that never exist before. So according to this, Uber is definitely a business model innovation. Similar cases include Walmart which is focused on supply chain innovation, and skype. Without skype, I cannot provide the lecture without going to Manchester. Skype is definitely a business model innovation when it was developed.
Then the next question is why Business model innovation matters to managers, entrepreneurs and academic researchers.
First, because it represents an often underutilized source of future value. In the uber case, the drivers are actually part of the underutilized source of value. Second, competitors might find it more difficult to imitate or replicate an entire novel activity system than a single novel product or process. Since it is often relatively easier to undermine and erode the returns of product or process innovation, innovation at the level of the business model can sometimes translate into a sustainable performance advantage. Third, because business model innovation can be such a potentially powerful competitive tool, managers must be attuned to the possibility of competitors’ efforts in this area.
Back to Uber case, what kind of innovations it made? Which block of the business model canvas you think the innovations belong to? Does anyone have any idea? Ok. The most important innovation Uber made is the deign of service and the app. Compared with taxi, it has shortened the communication steps between drivers and passengers. In addition, the service delivery channel is the mobile app which is also an innovation. And then drivers are not only its customers but also its key partners, which is quite different from a taxi company. Taxi drivers are just employees for taxi companies.
The last concept we will learn is project-based organizations. project-based organizations refer to a variety of organizational forms that involve the creation of temporary systems for the performance of project tasks (Sydow et al.2004)
It is a fast and flexible mode of organizing knowledge resources. It intends to speed up work by diminishing hierarchy and bureaucracy. And it allows for low-cost experiments.
Project based organizations are found in a wide range of industries. These include consulting and professional services (e.g. architectural design,), cultural industries (e.g. film-making,), high technology (e.g. software), and complex products and systems (e.g. construction and transportation).
The organizational structure of project based organizations usually includes two parts: project operation divisions and functional divisions and. This figure shows the organizational structure of a Canadian construction firm which is called turner construction. Its functional divisions include business development, human resources, logistics, and etc. the remained part is project operation divisions. There are project executives, and under each project executive, there are several project managers. And each project manager is leading several project engineers and project superintendents.
Based on the location of the innovations in the organizational structure, business model innovation in project based organizations may vary from individual project level, to firm level, and to inter-firm level. Go back to the organizational chart in the previously slide, if the innovations happen here, then it is project level bmi. If it happens here, then it is firm level. If it crosses firm boundaries, then it is inter-firm level.
So the first case is prefabricated construction. This video will show you a 30 story hotel in China which was built in just 15 days. The structure of the building is a steel structure and everything was prefabricated in factories and then installed on site. Let’s watch the video first. Back to the business model canvas, what kind of innovations this project has made? Either in value proposition, or a better delivery channel? Anyone can tell us?
Yes. Very good. The biggest innovation of this project is it used a different construction method, which reduced cost and time. Think about business model canvas, again, the innovations go to the value proposition block.
The second case is the capsule hotel, which was first proposed in Japan in 1970s. The room of capsule hotel is quite small but cheaper. It can be charged per hour or per night. It has been found that customers do not mind small rooms. The global capsule or pod hotels market was worth $159 million in 2016. (WiseGuy Research Consultants, 2017). There are some similar capsule/ cabin hotel in UK, such as Yotel in London and Nitenite hotel in Birmingham.
The biggest innovation of capsule hotel is it has broadened its customer segments with a cheaper price and a per-hour charge policy. So for some people who cannot afford other more expensive hotels, they may go to these kind of capsule hotel just for like a 1 or 2 hours’ rest.
The last case is the building information modeling related product. does anyone can tell us what is BIM? BIM (Building Information Modeling) is an intelligent 3D model-based process that gives architecture, engineering, and construction (AEC) professionals the insight and tools to more efficiently plan, design, construct, and manage buildings and infrastructure. So it is not just a 3d model, it changes the business process, and the work relationships between the stakeholders.
As we know that ,Autodesk is a famous engineering software developer. Recently, like around 5 years agao, it has published BIM 360 is a cloud based platform. All the stakeholders can login and share the information. it covers quality management, safety, design review, bim coordination, etc.
Because my phd research is about safety, so I checked its safety management, one part I really like in the system is that we can choose the location and then working subcontractors for that location, and to see whether all safety checklists have been done. It is also linked to the schedule.
Again, back to the business model canvas, what biggest innovations it has made? Anyone?
Still, the platform. Because everyone can get access to the platform, to check, to share information, so the working efficiency has been improved a lot.
So, Let’s do a quick review.
Finally I have a small assignment for you.
The first is about Carrillion which is a large construction contractor, as you may know.
These are all the references we used today. Hope you enjoyed my teaching today. Thank you very much!
Here I list some other business model innovation examples.
For example, to some extent, newspapers is replaced by websites. Amazon from selling books to everything, some contractors become general contractors and do construction management of subcontractors. And also building information modeling related products have actually significantly improved the collaboration between all stakeholders, because the 3d model and other project information can be shared.
Based on (i) the extent to which firms focus on developing unusual products and services for varied, and often uncertain markets and (ii) the extent to which the organization of expertise, tasks, and roles is predictable
and stable over projects, there are four types of project based organizations. That is organizational, precarious, craft and hollow. For Organizational type, these firms produce multiple and varied outputs with different and changeable skills and roles, e.g. strategic consultancy. For precarious type, these firms produce risky, unusual outputs with varied and changeable skis and roles, e.g. the biotechnology firms. For craft type, these kind of firms produce multiple, incrementally related outputs with distinct and stable roles and skills, e.g. furniture and machinery firm. For hollow type, these firms produce single outputs and coordinating tasks through standardized, separate and stable roles and skills, e.g. small construction firms