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Digital Business
Model Innovation
Tathagat Varma
Strategy & Operations, Walmart Global Tech
Doctoral Scholar (EFPM) at Indian School of Business
Disclaimer
All views mine!
Agenda
Business Models
and BMC
Digital Business
Models
Business
Models Innovation
What’s a
Business
Model?
What’s a
Business
Model?
How does a company
function?
How does it run its
business?
How does it create,
capture and deliver
value?
All models are wrong!
All models are wrong, but some are useful! – George Box
Why do
we need a
Business
Model?
From: Digital Business Models – Bernd W. Wirtz, 2019
Evolution of Business Models
From: Digital Business Models – Bernd W. Wirtz, 2019
Business Plan
vs. Business
Model
https://www.businessmodelcompetition.com/general-information.html
Business
Model
Levels
From: Digital Business Models – Bernd W. Wirtz, 2019
Components
of a Business
Model
Describing
a business
model
• Alexander Osterwalder
created Business Model
Canvas (BMC) as a visual
tool
• It is a simple and powerful
way to describe how a
company intends to make
money
• Nine blocks cover four
main area: customers, offer,
infrastructure and financial
viability.
https://www.123rf.com/photo_129012742_stock-vector-business-model-canvas-template-with-icons.html
This Photo by Unknown Author is licensed under CC BY-SA-NC
Some Business Model Patterns…
• Add-ons
• Cash Machine
• Cross-selling
• Crowdsourcing
• Customer Loyalty
• Digitisation
• Direct selling
• Experience selling
• Flat rate
• Fractional ownership
• Freemium
• Guaranteed availability
• Ingredient branding
• Integrator
• Leverage customer data
• Lock-in
• Long tail
• Mass customization
• Orchestrator
• Pay per use
• Performance-based contracting
• Razor and blade
• Rent instead of buy
• Robin Hood
• Self-service
• Shop in shop
• Subscription
• Two-sides markets
• ...
The Business Model Navigator: Oliver Gassmann, Karolin Frankenberger, Michaela Csok
Some business models…
Customers Value Capabilities Finance
Tanishq Festivals, weddings, and
celebrations. Urban
working women. Upper
middle class.
Brand that guarantees
purity, transparent prices.
National reach. Gold
exchange (40%+)
274 stores in 160 cities.
Design, Celebrity
endorsements.
“Making charges” (8-35%). Rs
18,600 Cr revenue.
Maruti Burgeoning and
aspirational middle-class
First car! Car for every
wallet (16 cars in over 150
variants). 9th among brand
trust (2019). TrueValue in
1,190 outlets
Extensive sales network
(3,598 sales outlets across
1,861 cities). Pan-India
network of service (3,792).
Cost leadership
Haldirams Traditional Rajasthan /
north Indian snacks and
sweets
Traditional north-Indian
snacks made with assured
quality and available fresh
across India, including
online.
400 products. Traditional
recipes. Managed family
crises / trademark disputes
well.
Crossed $1 Billion (2019), 80%
from packages snacks.
SBI The banker to every Indian
(400MM+)
Availability, access,
compliance, trust
24,000 branches and 190
offices in 35 countries.
59,000+ ATMs
Gross NPA (6.15%) Net NPAs
down to 3%. Net profit Rs
14,438Cr (FY20) the highest in
company history
Why did they fail?
• Kingfisher Airlines
• HMT Watches
• Tata Nano
• Yes Bank
Digital Business Models
What is Digital?
Technology-centric
view: it’s all about
technology!
Customer-centric
view: it’s all about how
a company engages
with customers
Business-centric view:
it’s an entirely new way
of doing business
Organization-Centric
View: it's all about the
new way of working
Process-centric view:
it's all about being agile
and lean
Data-centric view: it's
all about how a
company uses data
Strategy-centric view:
it's all about how a
business delivers value!
What is Digital?
• Applying the culture, practices, processes &
technologies of the Internet-era to respond to people’s
raised expectations. – Tom Loosemore @tomskitomski
• “The truth is that digital transformation is actually not
about adapting to new technology at all – it’s about
directing an organization to be more adaptive to
change itself.” - Lindsay Herbert. “Digital
Transformation.”
What’s a Digital Mindset?
“Being digital is about using data to make better and faster
decisions, devolving decision making to smaller teams, and
developing much more iterative and rapid ways of doing things.
Thinking in this way shouldn’t be limited to just a handful of
functions. It should incorporate a broad swath of how companies
operate, including creatively partnering with external companies to
extend necessary capabilities. A digital mind-set institutionalizes
cross-functional collaboration, flattens hierarchies, and builds
environments to encourage the generation of new ideas.
Incentives and metrics are developed to support such decision-
making agility."
https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/what-digital-really-means
Digitization, Digitalization and
Digital Transformation…
https://sloanreview.mit.edu/article/digital-transformation-on-purpose/
Drivers of
Business
Model
Innovation
From: Digital Business Models – Bernd W. Wirtz, 2019
Stages of
Development
in Digital
Business
Integration
From: Digital Business Models – Bernd W. Wirtz, 2019
Digital Business
Model (DBM)
Framework
• Digitization is compelling
companies to move their
business models on two
dimensions.
• They are moving from
controlled value chains to
more complex, networked
systems.
• They are moving from less
familiarity with customer
needs and life events to a
better, closer understanding
of them, resulting in better
customer engagement.
From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
Ecosystem Drivers outperform!
Ecosystem driver: organizer of an
ecosystem, a coordinated network
of enterprises, devices, and
customers to create value for all
participants, which is the
destination in a particular domain
(such as shopping), ensuring great
customer service; includes
complementary and sometimes
competitor products.
From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
Components of a Digital Business Model
https://sloanreview.mit.edu/article/optimizing-your-digital-business-model/
Sources of
Competitive
Advantage in
Next-
Generation
Enterprises
From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
Key questions
for
transformation
in the digital
economy
Threat: How strong is the digital threat to your
business model?
Model: Which business model is best for your
enterprise’s future?
Advantage: What is your competitive advantage?
Connection: How will you use mobile technologies and
the internet of things (IoT) to connect and learn?
Capabilities: Are you buying options for the future and
preparing for the necessary organizational surgery?
Leadership: Do you have the leadership at all levels to
make transformation happen?
From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
Digital
Business
Model
Innovation
From: Digital Business Models – Bernd W. Wirtz, 2019
A Businerss
Model
Innovation
Framework
From: Digital Business Models – Bernd W. Wirtz, 2019
B2C Digital
Business
Model:
4C-Net
From: Digital Business Models – Bernd W. Wirtz, 2019
Developing Hybrid Business Models
From: Digital Business Models – Bernd W. Wirtz, 2019
Drivers for
Developing
Hybrid
Business
Models
From: Digital Business Models – Bernd W. Wirtz, 2019
B2B Digital
Business
Models:
4S-Net
From: Digital Business Models – Bernd W. Wirtz, 2019
Assessing
Your Digital
Business
Model
https://sloanreview.mit.edu/files/2013/03/a0741a07b2.pdf
Success
Factors of
Digital
Business
From: Digital Business Models – Bernd W. Wirtz, 2019
From Pipelines to Platforms…
Pipeline businesses create value by controlling a
linear series of activities—the classic value-chain
model. Inputs at one end of the chain (say, materials
from suppliers) undergo a series of steps that
transform them into an output that’s worth more:
the finished product. Apple’s handset business is
essentially a pipeline. But combine it with the App
Store, the marketplace that connects app
developers and iPhone owners, and you’ve got a
platform.
Shifts involve:
• From resource control to resource orchestration
• From internal optimization to external interaction
• From a focus on customer value to a focus on
ecosystem value
Network Effect
• AT&T Annual Report, 1908:
“A telephone — without a
connection at the other end
of the line — is not even a toy
or a scientific instrument. It
is one of the most useless
things in the world. Its value
depends on the connection
with the other telephone—
and increases with the
number of connections.”
• 70% of value in tech is driven
by network effect!
https://www.nfx.com/post/network-effects-manual/
Digital Transformation often fails!
• Bain: 95% either failed
to deliver or settled for
diluted performance
• Forbes: 84%
• HBR: 70%
Pic: https://dsruptr.com/2019/12/01/the-trillion-dollar-reason-fortune-500-companies-fail-at-digital-transformation/
Some big ones…!
• P&G (2012)
• Ford Smart Mobility
(2014)
• GE Digital (2015)
• Why do they fail?
Digital Transformation is not about
technology!
• https://hbr.org/2019/03/digital-transformation-is-not-about-technology
• Digital transformation worked (for these organizations) because their leaders
went back to the fundamentals: they focused on changing the mindset of its
members as well as the organizational culture and processes before they
decide what digital tools to use and how to use them. What the members
envision to be the future of the organization drove the technology, not the
other way around.
• Lessons:
• Figure out your business strategy before you invest in anything
• Leverage insiders
• Design customer experience from the outside in
• Recognize employees’ fear of being replaced
• Bring Silicon Valley start-up culture inside
Why So Many High-Profile Digital
Transformations Fail?
• https://hbr.org/2018/03/why-so-many-high-profile-digital-
transformations-fail?
• No managers should view digital — or any other major
technological innovation — as their sure salvation
• Digital is not just a thing that you can you can buy and plug into
the organization
• It’s important to calibrate your digital investments to the
readiness of your industry — both customers and competitors
• When things are not going so well in the existing business, the
call of a new business model can become more powerful than it
should
Digital Transformation Is About
Talent, Not Technology
• https://hbr.org/2020/05/digital-transformation-is-about-talent-
not-technology?
• Contrary to popular belief, digital transformation is less about
technology and more about people. You can pretty much buy any
technology, but your ability to adapt to an even more digital
future depends on developing the next generation of
skills, closing the gap between talent supply and demand, and
future-proofing your own and others’ potential.
• Put people first
• Focus on soft skills
• Drive change from the top
• Act on data insights
• If you can’t fail fast, make sure you succeed slowly!
The $900 billion reason GE, Ford and
P&G failed at digital transformation
• https://www.cnbc.com/2019/10/30/heres-why-ge-fords-digital-transformation-
programs-failed-last-year.html
• Much has been written dissecting the reasons for digital transformation failure —
most experts have settled on people/employees, organizational culture and
leadership as weak links. But few acknowledge the real common thread:
communication breakdown.
• The truth is, people aren’t the problem; it’s the organization’s failure to
communicate effectively with its people that sets them up for digital
transformation trouble from the start.
• Focus on the why
• Create personalized communication journey
• Create targeted multimedia experiences that reach different groups
• Communicate in context
• Use data to measure and iterate
• Become a change-ready organization
Why digital strategies fail?
• https://www.mckinsey.com/business-functions/mckinsey-digital/our-
insights/why-digital-strategies-fail
• We find that a surprisingly large number underestimate the increasing
momentum of digitization, the behavioral changes and technology driving it,
and, perhaps most of all, the scale of the disruption bearing down on them.
Many companies are still locked into strategy-development processes that
churn along on annual cycles. Only 8 percent of companies we surveyed
recently said their current business model would remain economically viable if
their industry keeps digitizing at its current course and speed.
• Pitfalls
• Fuzzy definitions
• Misunderstanding the economics of digital
• Overlooking ecosystems
• Overindexing on the ”usual suspects”
• Missing the duality of digital
Business Model
Innovation
This Photo by Unknown Author is licensed under CC BY-NC-ND
The Business Model Navigator: Oliver Gassmann, Karolin Frankenberger, Michaela Csok
Opportunities…and challenges!
What’s
your
current
business
model?
Epicenters of Business
Model Innovation
• Resource-driven
• Offer-driven
• Customer-
driven
• Finance-driven
This Photo by Unknown Author is licensed under CC BY-SA-NCBusiness Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
Resource-driven
Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
Offer-driven
Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
Customer-driven
Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
Finance-driven
Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
Multiple-epicenter driven
Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
What
business
are you in?
This Photo by Unknown Author is licensed under CC BY-SA-NC
Who are your
customers?
Why do
they buy
your
products?
This Photo by Unknown Author is licensed under CC BY-SA-NC
What are
their pain
points?
This Photo by Unknown Author is licensed under CC BY-SA-NC
Example of
an
agriculture
digital
business
model
https://www.agupdate.com/digitization-transforms-business-models-of-agriculture-input-suppliers/pdf_53b96a33-8f6e-5a1b-8977-ad7997cae49c.html
Business
Model
Innovations in
Agriculture
and food
https://start-life.nl/archief/4-strategies-business-model-innovation-ag-food/
Recap
This Photo by Unknown Author is licensed under CC BY-SA-NC

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Digital Business Model Innovation

  • 1. Digital Business Model Innovation Tathagat Varma Strategy & Operations, Walmart Global Tech Doctoral Scholar (EFPM) at Indian School of Business
  • 3. Agenda Business Models and BMC Digital Business Models Business Models Innovation
  • 5. What’s a Business Model? How does a company function? How does it run its business? How does it create, capture and deliver value?
  • 6. All models are wrong! All models are wrong, but some are useful! – George Box
  • 7. Why do we need a Business Model? From: Digital Business Models – Bernd W. Wirtz, 2019
  • 8. Evolution of Business Models From: Digital Business Models – Bernd W. Wirtz, 2019
  • 10. Business Model Levels From: Digital Business Models – Bernd W. Wirtz, 2019
  • 12. Describing a business model • Alexander Osterwalder created Business Model Canvas (BMC) as a visual tool • It is a simple and powerful way to describe how a company intends to make money • Nine blocks cover four main area: customers, offer, infrastructure and financial viability. https://www.123rf.com/photo_129012742_stock-vector-business-model-canvas-template-with-icons.html
  • 13. This Photo by Unknown Author is licensed under CC BY-SA-NC
  • 14. Some Business Model Patterns… • Add-ons • Cash Machine • Cross-selling • Crowdsourcing • Customer Loyalty • Digitisation • Direct selling • Experience selling • Flat rate • Fractional ownership • Freemium • Guaranteed availability • Ingredient branding • Integrator • Leverage customer data • Lock-in • Long tail • Mass customization • Orchestrator • Pay per use • Performance-based contracting • Razor and blade • Rent instead of buy • Robin Hood • Self-service • Shop in shop • Subscription • Two-sides markets • ... The Business Model Navigator: Oliver Gassmann, Karolin Frankenberger, Michaela Csok
  • 15. Some business models… Customers Value Capabilities Finance Tanishq Festivals, weddings, and celebrations. Urban working women. Upper middle class. Brand that guarantees purity, transparent prices. National reach. Gold exchange (40%+) 274 stores in 160 cities. Design, Celebrity endorsements. “Making charges” (8-35%). Rs 18,600 Cr revenue. Maruti Burgeoning and aspirational middle-class First car! Car for every wallet (16 cars in over 150 variants). 9th among brand trust (2019). TrueValue in 1,190 outlets Extensive sales network (3,598 sales outlets across 1,861 cities). Pan-India network of service (3,792). Cost leadership Haldirams Traditional Rajasthan / north Indian snacks and sweets Traditional north-Indian snacks made with assured quality and available fresh across India, including online. 400 products. Traditional recipes. Managed family crises / trademark disputes well. Crossed $1 Billion (2019), 80% from packages snacks. SBI The banker to every Indian (400MM+) Availability, access, compliance, trust 24,000 branches and 190 offices in 35 countries. 59,000+ ATMs Gross NPA (6.15%) Net NPAs down to 3%. Net profit Rs 14,438Cr (FY20) the highest in company history
  • 16. Why did they fail? • Kingfisher Airlines • HMT Watches • Tata Nano • Yes Bank
  • 18. What is Digital? Technology-centric view: it’s all about technology! Customer-centric view: it’s all about how a company engages with customers Business-centric view: it’s an entirely new way of doing business Organization-Centric View: it's all about the new way of working Process-centric view: it's all about being agile and lean Data-centric view: it's all about how a company uses data Strategy-centric view: it's all about how a business delivers value!
  • 19. What is Digital? • Applying the culture, practices, processes & technologies of the Internet-era to respond to people’s raised expectations. – Tom Loosemore @tomskitomski • “The truth is that digital transformation is actually not about adapting to new technology at all – it’s about directing an organization to be more adaptive to change itself.” - Lindsay Herbert. “Digital Transformation.”
  • 20. What’s a Digital Mindset? “Being digital is about using data to make better and faster decisions, devolving decision making to smaller teams, and developing much more iterative and rapid ways of doing things. Thinking in this way shouldn’t be limited to just a handful of functions. It should incorporate a broad swath of how companies operate, including creatively partnering with external companies to extend necessary capabilities. A digital mind-set institutionalizes cross-functional collaboration, flattens hierarchies, and builds environments to encourage the generation of new ideas. Incentives and metrics are developed to support such decision- making agility." https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/what-digital-really-means
  • 21. Digitization, Digitalization and Digital Transformation… https://sloanreview.mit.edu/article/digital-transformation-on-purpose/
  • 22.
  • 23. Drivers of Business Model Innovation From: Digital Business Models – Bernd W. Wirtz, 2019
  • 24. Stages of Development in Digital Business Integration From: Digital Business Models – Bernd W. Wirtz, 2019
  • 25. Digital Business Model (DBM) Framework • Digitization is compelling companies to move their business models on two dimensions. • They are moving from controlled value chains to more complex, networked systems. • They are moving from less familiarity with customer needs and life events to a better, closer understanding of them, resulting in better customer engagement. From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
  • 26. Ecosystem Drivers outperform! Ecosystem driver: organizer of an ecosystem, a coordinated network of enterprises, devices, and customers to create value for all participants, which is the destination in a particular domain (such as shopping), ensuring great customer service; includes complementary and sometimes competitor products. From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
  • 27. Components of a Digital Business Model https://sloanreview.mit.edu/article/optimizing-your-digital-business-model/
  • 28. Sources of Competitive Advantage in Next- Generation Enterprises From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
  • 29. Key questions for transformation in the digital economy Threat: How strong is the digital threat to your business model? Model: Which business model is best for your enterprise’s future? Advantage: What is your competitive advantage? Connection: How will you use mobile technologies and the internet of things (IoT) to connect and learn? Capabilities: Are you buying options for the future and preparing for the necessary organizational surgery? Leadership: Do you have the leadership at all levels to make transformation happen? From: What’s Your Business Model? – Peter Weill and Stephanie L. Woerner
  • 31. A Businerss Model Innovation Framework From: Digital Business Models – Bernd W. Wirtz, 2019
  • 32. B2C Digital Business Model: 4C-Net From: Digital Business Models – Bernd W. Wirtz, 2019
  • 33. Developing Hybrid Business Models From: Digital Business Models – Bernd W. Wirtz, 2019
  • 34. Drivers for Developing Hybrid Business Models From: Digital Business Models – Bernd W. Wirtz, 2019
  • 35. B2B Digital Business Models: 4S-Net From: Digital Business Models – Bernd W. Wirtz, 2019
  • 37. Success Factors of Digital Business From: Digital Business Models – Bernd W. Wirtz, 2019
  • 38. From Pipelines to Platforms… Pipeline businesses create value by controlling a linear series of activities—the classic value-chain model. Inputs at one end of the chain (say, materials from suppliers) undergo a series of steps that transform them into an output that’s worth more: the finished product. Apple’s handset business is essentially a pipeline. But combine it with the App Store, the marketplace that connects app developers and iPhone owners, and you’ve got a platform. Shifts involve: • From resource control to resource orchestration • From internal optimization to external interaction • From a focus on customer value to a focus on ecosystem value
  • 39. Network Effect • AT&T Annual Report, 1908: “A telephone — without a connection at the other end of the line — is not even a toy or a scientific instrument. It is one of the most useless things in the world. Its value depends on the connection with the other telephone— and increases with the number of connections.” • 70% of value in tech is driven by network effect! https://www.nfx.com/post/network-effects-manual/
  • 40. Digital Transformation often fails! • Bain: 95% either failed to deliver or settled for diluted performance • Forbes: 84% • HBR: 70% Pic: https://dsruptr.com/2019/12/01/the-trillion-dollar-reason-fortune-500-companies-fail-at-digital-transformation/
  • 41. Some big ones…! • P&G (2012) • Ford Smart Mobility (2014) • GE Digital (2015) • Why do they fail?
  • 42. Digital Transformation is not about technology! • https://hbr.org/2019/03/digital-transformation-is-not-about-technology • Digital transformation worked (for these organizations) because their leaders went back to the fundamentals: they focused on changing the mindset of its members as well as the organizational culture and processes before they decide what digital tools to use and how to use them. What the members envision to be the future of the organization drove the technology, not the other way around. • Lessons: • Figure out your business strategy before you invest in anything • Leverage insiders • Design customer experience from the outside in • Recognize employees’ fear of being replaced • Bring Silicon Valley start-up culture inside
  • 43. Why So Many High-Profile Digital Transformations Fail? • https://hbr.org/2018/03/why-so-many-high-profile-digital- transformations-fail? • No managers should view digital — or any other major technological innovation — as their sure salvation • Digital is not just a thing that you can you can buy and plug into the organization • It’s important to calibrate your digital investments to the readiness of your industry — both customers and competitors • When things are not going so well in the existing business, the call of a new business model can become more powerful than it should
  • 44. Digital Transformation Is About Talent, Not Technology • https://hbr.org/2020/05/digital-transformation-is-about-talent- not-technology? • Contrary to popular belief, digital transformation is less about technology and more about people. You can pretty much buy any technology, but your ability to adapt to an even more digital future depends on developing the next generation of skills, closing the gap between talent supply and demand, and future-proofing your own and others’ potential. • Put people first • Focus on soft skills • Drive change from the top • Act on data insights • If you can’t fail fast, make sure you succeed slowly!
  • 45. The $900 billion reason GE, Ford and P&G failed at digital transformation • https://www.cnbc.com/2019/10/30/heres-why-ge-fords-digital-transformation- programs-failed-last-year.html • Much has been written dissecting the reasons for digital transformation failure — most experts have settled on people/employees, organizational culture and leadership as weak links. But few acknowledge the real common thread: communication breakdown. • The truth is, people aren’t the problem; it’s the organization’s failure to communicate effectively with its people that sets them up for digital transformation trouble from the start. • Focus on the why • Create personalized communication journey • Create targeted multimedia experiences that reach different groups • Communicate in context • Use data to measure and iterate • Become a change-ready organization
  • 46. Why digital strategies fail? • https://www.mckinsey.com/business-functions/mckinsey-digital/our- insights/why-digital-strategies-fail • We find that a surprisingly large number underestimate the increasing momentum of digitization, the behavioral changes and technology driving it, and, perhaps most of all, the scale of the disruption bearing down on them. Many companies are still locked into strategy-development processes that churn along on annual cycles. Only 8 percent of companies we surveyed recently said their current business model would remain economically viable if their industry keeps digitizing at its current course and speed. • Pitfalls • Fuzzy definitions • Misunderstanding the economics of digital • Overlooking ecosystems • Overindexing on the ”usual suspects” • Missing the duality of digital
  • 47.
  • 48.
  • 49. Business Model Innovation This Photo by Unknown Author is licensed under CC BY-NC-ND
  • 50. The Business Model Navigator: Oliver Gassmann, Karolin Frankenberger, Michaela Csok Opportunities…and challenges!
  • 52. Epicenters of Business Model Innovation • Resource-driven • Offer-driven • Customer- driven • Finance-driven This Photo by Unknown Author is licensed under CC BY-SA-NCBusiness Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
  • 53. Resource-driven Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
  • 54. Offer-driven Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
  • 55. Customer-driven Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
  • 56. Finance-driven Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
  • 57. Multiple-epicenter driven Business Model Generation: A handbook for visionaries, game changers, and challenges – Alexander Osterwalder and Yves Pigneur
  • 58. What business are you in? This Photo by Unknown Author is licensed under CC BY-SA-NC
  • 60. Why do they buy your products? This Photo by Unknown Author is licensed under CC BY-SA-NC
  • 61. What are their pain points? This Photo by Unknown Author is licensed under CC BY-SA-NC
  • 63.
  • 65.
  • 66. Recap This Photo by Unknown Author is licensed under CC BY-SA-NC