Advances in technology have disrupted the creative marketplace. What customers value and will pay for has changed and companies who don’t evaluate their existing business models risk losing their relevance.
There is a lot of discussion around reinventing ‘business models’ and ‘strategy’ but there is a lack of clarity about what this means and even less about how to apply it.
So how does this impact the creative industries, which have undergone more change than most sectors over the last 10 years?
The part time Business Model Theme Champion role, funded by and on behalf of the Creative Industries KTN, focused on transferring current business model practice to the creative industries, using that to shape and inform business model innovation and examine how businesses can better articulate new and emergent business models.
This document is not meant as a scientific document or academic paper but a combination of a summary of my learnings from both my year’s tenure, as well as the thoughts and experiences from those who kindly attended workshops and roundtables or were consulted as experts or as leading companies in their field. My intention is to start a conversation around business model innovation in the creative and digital sectors and for the recommendations to be explored further.
The existing business environment is very turbulent so corporate houses find it very difficult in managing their financial statement. In such scenario, financial management plays significant role for the companies for managing and organizing their financial data and
statements. In the following study different financial tools and techniques will be applied on the London Woods company to analyze its financial performance which will help it in decision making.
The existing business environment is very turbulent so corporate houses find it very difficult in managing their financial statement. In such scenario, financial management plays significant role for the companies for managing and organizing their financial data and
statements. In the following study different financial tools and techniques will be applied on the London Woods company to analyze its financial performance which will help it in decision making.
Unilever is a multinational corporation selling consumer goods including foods, beverages, cleaning agents and personal care products. Unilever is a dual-listed company consisting of Unilever NV in Rotterdam and Unilever PLC in London.
Advertising: Presentation and promotion of ideas, goods, or services by an identifiedsponsor. Examples: Print ads, radio, television, billboard, direct mail, brochures andcatalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads , and emails.
It is a business development proposal, designed for establishing a new venture as an entrepreneur. A new venture needs to have a detailed business proposal plan. This business proposal plan is a prescribed expression of the entrepreneurial vision along with description regarding the operations and strategy of the proposed endeavor. The main advantages of writing a detailed business plan is the offsetting the costs. Business plan enables the top management and executives in the firm to ponder about the business comprehensively, to converse the business objectives to personnel, to include a decision making base and to smooth the progress of the planning (George and Bock, 2012).
In performing our assignment, we had to take help and guideline of some respected persons, who deserve our greatest gratitude. We would like to show our gratitude to our supportive lecturer, Sir Firdaus for giving us a good guideline throughout a numerous consultations. We would also like to expand our deepest gratitude to all those who have directly and indirectly guided us in writing this assignment.
Many people, especially our classmates and team members itself, have made a valuable comment and suggestions on this proposal which give us an inspiration to improve our assignment. We thank all the people for their help directly and indirectly to complete our assignment.
Business model canvas of a Coffee shop Fozle Rabbi
A business model canvas of a coffee shop which was an assignment for Strategic management course of BRAC university which directed by Dr. Sebastian Groh. Coffeeholic house is a new coffee shop chain in Dhaka. Our main target is young coffee lover people for unique taste of coffee.
This paper outlines the increasing challenges of Business Model Innovation in the Digital and New Media Economy. It describes drivers of
change, impacts on the innovation and business landscape, consequences for business modeling and the innovation process, as well as the implications for organizational adaptation. It presents in-depth observations from empirical
research on 12 business cases in the Digital and Media Economy in Germany.
Geschäftsmodell & Business Model Canvas von Spotify (Sommersemester 2015)Michael Groeschel
Geschäftsmodell & Business Model Canvas von Spotify (Sommersemester 2015), erstellt als Übungsaufgabe im Rahmen der Veranstaltung E-Business im Sommersemester 2015 unter der Leitung von Prof. Dr. Michael Gröschel
Unilever is a multinational corporation selling consumer goods including foods, beverages, cleaning agents and personal care products. Unilever is a dual-listed company consisting of Unilever NV in Rotterdam and Unilever PLC in London.
Advertising: Presentation and promotion of ideas, goods, or services by an identifiedsponsor. Examples: Print ads, radio, television, billboard, direct mail, brochures andcatalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads , and emails.
It is a business development proposal, designed for establishing a new venture as an entrepreneur. A new venture needs to have a detailed business proposal plan. This business proposal plan is a prescribed expression of the entrepreneurial vision along with description regarding the operations and strategy of the proposed endeavor. The main advantages of writing a detailed business plan is the offsetting the costs. Business plan enables the top management and executives in the firm to ponder about the business comprehensively, to converse the business objectives to personnel, to include a decision making base and to smooth the progress of the planning (George and Bock, 2012).
In performing our assignment, we had to take help and guideline of some respected persons, who deserve our greatest gratitude. We would like to show our gratitude to our supportive lecturer, Sir Firdaus for giving us a good guideline throughout a numerous consultations. We would also like to expand our deepest gratitude to all those who have directly and indirectly guided us in writing this assignment.
Many people, especially our classmates and team members itself, have made a valuable comment and suggestions on this proposal which give us an inspiration to improve our assignment. We thank all the people for their help directly and indirectly to complete our assignment.
Business model canvas of a Coffee shop Fozle Rabbi
A business model canvas of a coffee shop which was an assignment for Strategic management course of BRAC university which directed by Dr. Sebastian Groh. Coffeeholic house is a new coffee shop chain in Dhaka. Our main target is young coffee lover people for unique taste of coffee.
This paper outlines the increasing challenges of Business Model Innovation in the Digital and New Media Economy. It describes drivers of
change, impacts on the innovation and business landscape, consequences for business modeling and the innovation process, as well as the implications for organizational adaptation. It presents in-depth observations from empirical
research on 12 business cases in the Digital and Media Economy in Germany.
Geschäftsmodell & Business Model Canvas von Spotify (Sommersemester 2015)Michael Groeschel
Geschäftsmodell & Business Model Canvas von Spotify (Sommersemester 2015), erstellt als Übungsaufgabe im Rahmen der Veranstaltung E-Business im Sommersemester 2015 unter der Leitung von Prof. Dr. Michael Gröschel
An introduction to the framework "Business Model Canvas" illustrated by concrete Business Models of digital champions such as Linkedin, Scoop.it, HelloMentor, Viadeo, HP, eBay, Google, GMF, AXA, P&G.
Der Home-Video-Markt unterlag in den letzten Jahren einem extremen Wandel. Im Rahmen der Bearbeitung des HBR-Cases wird der Wandel des Geschäftsmodells von Netflix besprochen. Dabei wird vor dem Hintergrund der Änderung der Marktgegebenheiten als auch der Änderungen interner Organisation und Ressourcen auf den Wandel des Netflix-Geschäftsmodells eingegangen. Die Theorie von Geschäftsmodellen wird kurz erklärt. Zusätzlich wird diskutiert, ob und wie man Geschäftsmodelle bewerten kann. Hierzu werden eine Systematik und einige gängige Ansätze aufgezeigt.
This presentation is based on the top seller book "Business Model Generation" by Alex Osterwalder and Yves Pigneur. This book introduces the Business Model Canvas, the world's leading tool in creating and analyzing business models. This great tool allows you to sketch out your business model visually without starting with a scary business plan.
You can take my online course which covers more content, examples, quizzes, challenges and provides a certificate of completion.
Get course discounts and learn more:
www.playtactic.com
I hope you find this beneficial and good luck on your business model ;)
Original article from the Flevy business blog can be found here:
http://flevy.com/blog/deconstruct-and-innovate-your-business-model/
The business model is at the core of any company’s corporate strategy. It defines how the company creates, delivers, and captures value.
Most tech startups fail because they lack a viable business model. Even for enterprises with established business models, they often need to revisit and innovate on their business models.
To understand the essence of a successful business model, first, let’s look at its 4 core components:
• Customer Value Proposition,
• Profit Formula,
• Key Resources, and
• Key Processes.
Customer Value Proposition
A successful company helps its customers get a “job” done. Doing the “job”—this is the “value” the business is delivering for its customer. For instance, Google helps customers with the job of finding information online. McDonalds helps customers with the job of feeding a greasy appetite quickly and cheaply. Flevy helps customers with the job of finding business documents they need for work.
High customer value proposition is correlated with
• Importance of the job to the customer;
• Low customer satisfaction with alternative options in the market; and
• Higher quality (or lower price) of your product relative to alternative options.
Profit Formula
It’s great to offer customers great value, but, as a business, the economics still need to work in your favor. We need to make money! This is the profit formula.
The profit formula is the blueprint that defines how the company creates value for itself, while providing value for the customer. The profit formula consists of numerous economic components, including:
• Revenue model
• Cost structure
• Margin model
• Asset turnover and velocity
Slides from a recent speech in front of 1500 people on:
- Why business model innovation is important
- What a business model is
- How to design and implement innovative business models using a design thinking approach.
Many cases illustrate how to do it in practice.
Buyers can now discover nearly everything about companies, products and
services from websites and other Web sources, including what customers are
saying on social media.
NTHEMIND OF GREATCOMPANIESBy Scott BlanchardThe.docxhenrymartin15260
NTHE
MIND OF GREAT
COMPANIES?
By Scott Blanchard
T
he old saying, "money isn't
everything," rings hollow in
today's business world.
where rninute-by-minute
stock quotes scroll across
our computer monitors, and
careers are won or lost based
on Wall Street's analysis of a
company's perforniance. Throw in giob-
al competition, outdated products and
services, increased costs, corporate silos
and other business challenges, and it's
no wonder that tnatiy of today's compa-
nies focus solely on their bottom line,
ofteti at the expense of customer service
and employee satisfaction.
It need not be this way. Great compa
nies focus on more than one bottom
line when gauging their perforniance.
Ttiey choose to be not only the invest-
ment of choice, but also the provider of
choice for their products or services, as
well as the employer of choice for work-
ers in their industry. By looking beyond
immediate, short term results and focus-
ing on strategies to make their compa-
nies successful for the long-term, they
recognize challenges sooner, identify
solutions more quickly and deliver re-
sults ahead of their competitors. In short,
they learn to lead at a higher level.
A clear warning sign that your busi-
ness is trapped in a short-term mindset
is the presence of an "either/or" philoso-
phy. Managers either believe they can
achieve profitability or they can develop
a great workplace, but not both. These
leaders don't always take morale and job
satisfaction into consideration. Their
focus is only their financial bottom line.
From there, it's a short leap to the false
notion tlrat making money is the sole
reason to be in business.
A NEW APPROACH
Contrary to the either/or philosophy,
leading at a higher level requires man-
agers to embrace a "both/and" approach.
In great companies, the development of
people is of equal importance to finan-
cial performance. As a result, the focus
is on long-term results and human satis-
faction. Accordingly, great companies
begin by both creating and nurturing a
vision of the future, and then measuring
progress against that vision.
There are three questions to ask,
which represent the main components
of a corporate vision. By focusing on
these questions, companies are more
likely to ensure they don't lose sight of
their path to success. They are:
• What business are you in? This will
help you identify your company's signif-
icant purpose.
• What will the future look like if you
are successful?
• What guides your behavior and deci-
sions on a daily basis? This will help
you identify clear values.
Great companies keep al! three of
these ideas clearly in mind and make
necessary course corrections when they
realize they are off track.
The next step is to create a corporate
culture that both reflects and reinforces
the corporate vision. The culture con-
sists of the values, attitudes, beliefs,
behaviors and practices of the organiza-
tion's members. Culture is an organiza-
tion's personality, and it can help or hin-
.
Businesses that actively pursue innovation are better positioned to anticipate and respond to market disruptions, ensuring their long-term viability and success in a rapidly changing business landscape.
13 lessons for sme business transformationBrowne & Mohan
Browne & Mohan has had the privilege to work with Small and medium companies that pursued business transformation to improve their market relevance and financial sustainability. In this paper, we share 13 lessons gained from successful SME business transformation.
A social business is an organization whose culture and systems encourage networks of people to create business value. Social businesses connect individuals, so they can rapidly share information, knowledge and ideas by having conversations and publishing informal content. They analyze social content from multiple channels and sources, in addition to structured data, to gain insights from both external and internal stakeholders. When those things happen, innovation and business execution rates increase, better decisions are made, and customers and employees are more engaged and satisfied. Social businesses enjoy lower operating costs, faster speed-to-market, improved customer and employee engagement, and increased profitability.
People and Innovation: Getting Ideas on the tableScott Smith
These days, everyone can attest to the importance of being innovative. In a knowledge economy where small insights can quickly shift the competitive landscape and capabilities can rapidly be bought, borrowed or built, we believe that those leaders who oversee a dynamic, fastmoving, innovation portfolio will have the best chance of breaking away from the pack and generating growth. But many organizations are finding it difficult to engage their people – from their employees to their customers to their suppliers – in the innovation process. If this is the case, then where do they start?
Published by the IBM Institute for Business Value, 2006
This white paper discusses why small businesses are experiencing a decline in lead volume and quality, and acts as a step-by-step guide for lead generation in "the new normal".
Similar to Business Models: Six recommendations to enable business model innovation in the Creative & Digital Industries. (20)
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
What is the TDS Return Filing Due Date for FY 2024-25.pdf
Business Models: Six recommendations to enable business model innovation in the Creative & Digital Industries.
1. Media–Sauce
Theme Champion for Business Models & Growth
Learnings 2012-13 #bizmodel
Mellissa Norman
Introduction
Advances in technology have disrupted the creative marketplace. What customers value and
will pay for has changed and companies who don’t evaluate their existing business models
risk losing their relevance.
There is a lot of discussion around reinventing ‘business models’ and ‘strategy’ but there is a
lack of clarity about what this means and even less about how to apply it.
So how does this impact the creative industries, which have undergone more change than
most sectors over the last 10 years?
The part time Business Model Theme Champion role, funded by and on behalf of the Creative
Industries KTN, focused on transferring current business model practice to the creative
industries, using that to shape and inform business model innovation and examine how
businesses can better articulate new and emergent business models.
The steps to reach this included firstly, understanding what a business model is, mapping the
existing model, evaluating and modifying the current model and then being able to
communicate the new business model.
The activities I undertook are listed at the end of this document. They include events,
roundtables, talks, research, interviews, content and blogs.
This is not meant as a scientific document or academic paper but a combination of a
summary of my learnings from both my year’s tenure and my wider business consulting work
over the last seventeen years as well as the thoughts and experiences from those who kindly
attended workshops and roundtables or were consulted as experts or as leading companies
in their field. My intention is to start a conversation around business model innovation in the
creative and digital sectors and for the recommendations to be explored further.
Some experts consulted suggested that business innovation is happening already, by
companies successfully trying new ideas, following instincts without using a particular
1
2. Media–Sauce
process. The added benefits of using a framework to support change means that each step in
the process becomes visible. It is easier then, to spot potential gaps and opportunities to
build BM and strategy. This also will benefit companies who are still trying to understand
business model innovation.
This document also refers to a biannual global survey of CEOs commissioned by IBM, the
most recent of which, was published in 2012 (the next is due later this year). Even though
this survey is not exclusively for the creative and digital sectors, it can be an effective snap
shot of current business trends, challenges and opportunities and an effective way to chart
change of priorities. This document is aimed at both SMEs and organisations that work in the
creative and digital sectors.
Recommendations & Learnings
“Understanding the customer value proposition and its relationship to how a new market is
created is a critical element of implementing business model innovation. “
Dr. Chander Velu, Cambridge Judge Business School, University of Cambridge
1 - Lack of Understanding - Value Propositions & Customer Insight.
At the core of Business Model design is the value proposition- the value of your
product/content/service and what is someone willing to pay for it. Yet many companies still
struggle to articulate their value proposition. Understanding the value of what is on offer or
in other words, ‘the job’ that a product/service/content does for the customer, is crucial to
develop content, product and services that are relevant.
Understanding customers and their needs is an area that many companies recognise
as a weakness. Some companies don’t use a CRM system, or collect data on their customers
either due to a lack of skills or available time.
Businesses that are B2B have an extra challenge in that they serve two customers,
their business client and the end user. Due to social media, we can now effectively collect
data from our individual customers rather than refer to a customer segment group or an
2
3. Media–Sauce
‘average customer’. Some of the roundtable participants mentioned that capturing and
processing this can be difficult. According to IBM’s Global survey in 2012, 75% of company
CEO’s mentioned that increasing customer insight is a priority area for them.
Recommendations
Companies need support in uncovering and redefining their value proposition. Having
a VP (value proposition) can differentiate them from their competitors and demonstrate
specific benefits. It also shows their customers why they should purchase from them, rather
than anyone else. More importantly, it can keep them relevant by updating their business
model, offer customers what they want, move away from outdated models and uncover new
business models. A great tool to help a company with this is the value proposition canvas.
Companies need to be aware of what new tools and services are available to enable
them to collect and analyse data to turn this into insight.
2 - Lack of Business Modelling & Strategy Skills.
Many SMEs CEOs do not come from a business background but have learnt it from
their experience of running a company. Add to this, the challenge of managing the day to day
duties and a lack of time, funds and resources can leave little time to strategize or redesign
their business. A common problem is that entrepreneurs spend more time working in the
business rather than on it.
This can leave a company vulnerable to threats and a lack of skills in this area can lead
a CEO to look for a ‘silver bullet’ business model from elsewhere in the industry rather than
to understand their own value proposition and tailor a model to fit their and their customer’s
needs.
•
Product/service/content innovation tends to be the primary focus of companies with
business innovation coming in second place. Interestingly, according to IBM’s survey, the
companies who are outperforming their peers have similar product and service innovation
but choose more disruptive, innovative forms of business model innovation and partner
more extensively.
•
Business model innovation is an emerging field and its growth can be charted with
the growth of the internet but training and workshops around this specialism, within the
creative sector, are very limited. Many universities have research areas and experts
investigating this field but the knowledge has not transferred to the creativity industries
themselves.
3
4. Media–Sauce
Recommendations •
In order to maintain a creative/digital sector fit for purpose there needs to be access
to training and workshops in this discipline. By supporting business model innovation and
strategy, funding bodies and skills agencies could significantly increase the knowledge and
skillset in this area which would positively impact revenue streams and company growth.
•
During one of our roundtables some suggestions included; establishing regular small
groups offering peer to peer support for CEOs in a safe environment and bringing in experts
from other industries to share their learning’s as this might help them create new solutions
to current challenges.
•
To build knowledge transfer networks between the business schools/departments who
are researching this area and companies who are at the coal face. This would bring added
benefit to both.
3 - Change Coming From the Top.
The further away a CEO gets from the day to day running of the company the harder
it is for them to hold all the knowledge of processes, successes and failures of that
organization. We know that to successfully run a company control needs to be passed to
other members of staff, which means pieces of knowledge are held by everyone.
Making changes in strategy and business modelling can have a huge impact on the
company as a whole and affect moral. Each company has its own culture, particular habits
and behaviour and when those are challenged it can cause fear and resentment. If the
change is owned only by one person, it can be difficult to implement as they are fighting
embedded habits and culture.
Recommendations –
•
In order to affectively embed change within a company, the whole company needs to
be involved. If that isn’t possible, a slice horizontally (same pay grade across different
departments) and vertically (different pay grades in the same department) can be used
instead. This will allow the change to be easily sustainable and will help recreate new habits
and behaviour from the outset.
•
Every person employed by a company holds a piece of the company’s knowledge,
about what works and doesn’t work. Tapping into this reduces risk, decreases costs and can
create innovative solutions and increase sustainability of results.
4
5. Media–Sauce
•
There are very effective methods to do this including large participatory formats such
as the world café method which BA, World Bank and many other organisations have utilized
to create change by bringing the ‘whole system’ the processes and people into a room. For
smaller SMEs, even a small group working together can be extremely beneficial.
4 - Lack of Collaboration/Partnerships.
•
Often when building new business, distribution or financial models, new skillsets can
be required. To hire employees with these skills may be one costly solution. Another is to test
the model by building collaborations with other partners who are experts in their field.
•
It can be difficult for a company to find a suitable partner and a framework to help
support this relationship as there are many different kinds of partnerships (financial, supply
chain, co-creative) and navigating which one to choose can be challenging.
Recommendations •
While not essential, it is certainly advantageous to build in partnerships and
collaboration to support more innovative business models e. g. The Centre for Creative
Collaboration is one organisation which is supporting SMEs through this process. IBM states
that 75% of CEOs that were surveyed had formed partnerships and now have collaboration
embedded into their business model.
•
Build partnerships across the chain to minimize the impact of the company's business
model innovation on others in the value chain.
•
Get companies to work together is more effective than networking. Create
environments and processes to allow companies to work together or to learn and trust at a
deeper level which can increase the likely hood of collaborations.
5 - Lack of a Common Language.
•
Lack of a common language is a common problem in some companies. When you
bring together experts in their own field from business, creative, and technology, each have
their own jargon and language. This can increase the challenge of working together on
overcoming business issues. It is easy to dismiss or disengage from an idea if you don’t
understand it.
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Recommendations •
The Business Model Innovation Canvas works well as a simple tool to describe, map
and offer some evaluation of a business model as it is easy to use, and can be understood by
most. Depending on the size of the company or the complicity of the change needed, other
tools will be needed to future develop, evaluate and measure business model changes. The
relevant tools will depend on the change needed.
•
Ensuring that there is a common language. This will help improve communication of a
company’s values to their customers, to the rest of the company regardless of their
specialism, to stakeholders and to potential investors.
6 - Lack of Agility in Organisational Structure/Processes.
•
Many companies working in the creative and digital spaces are dealing with
disruptions caused by social media, digital and the current economic climate.
•
The complexity of company’s processes and structure has increased over the years,
decreasing agility and creating an aversion to risk. As a company grows there is a tendency
for layers of complexity to increase, making it harder to change, avoid pitfalls or embrace
opportunities.
•
Challenging as they are, social and digital are only the current disruptors. Previously,
many companies could live their lives successfully between major disruptions but now, as the
rate of technology change increases, companies that are looking for the one business model
solution and sticking to it, may find themselves in a similar position when other disruptions
occur.
Recommendations –
•
Building time to regularly review and evaluate the current model and strategy is
important to insure a company grows. Over time, the product/service/content can be
adapted according to the changing customer’s values or what they are willing to pay for.
•
Business iteration - there is no constant in business model design, it is an iterative
process. Design thinking needs to be regularly applied to ensure a company maintains their
relevance. A business model will continually evolve and grow; strategy will be tweaked to
enable a company to be successful.
In Conclusion
The learnings from this year’s work represent a small part of a bigger conversation. In order
for us to address shortcomings around strategy and business model innovation within the
creative and digital sectors, we need to work together to share the knowledge we have
rather than keep them in sector silos.
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Each sector has its individual strengths and expertise but sector knowledge around growth
and business innovation can be translated in order to find new solutions in a different sector
If you would like to participate in this discussion or would like to comment please contact
Mellissa Norman mel@media-sauce.org.
Mellissa Norman -Media-Sauce.org
Media -Sauce is a digital business consultancy that enables companies to build innovative
business models, strategies and processes. We have worked with BBC, Royal Shakespeare
Company, Royal Commonwealth Society to develop business models, income streams and
strategy. We also deliver innovative business workshops to enable companies to build new
revenue streams and to design the right business model. We have created and delivered
workshops for Skillset, the Technology Strategy Board, the BBC, Own-it, Pact, Interactive
Scotland and Creative Clyde.
Mel Norman has an interest in creativity, business and technology and how they work
together and has 18 years experience across film, TV, digital, interactive and social.
Mel has programme directed and produced a conference with Facebook and the
collaborative Social Media Week London (Chinwag) with partners Nokia, Dell, C4 and BBC.
Previously, to Media Sauce, Mel worked as a business consultant and set up a sales coaching
programme for clients including Npower and Business in the Community. Mel started her
career as an assistant to Bill Forsyth and Lynne Ramsay before producing one of the first
digital feature films in Scotland. Mel has also worked with Endemol, BBC, Brighter Pictures
and developed a slate of horror films working with Stuart Lee and other talented individuals.
In 2007 Mel and Will Pearson won the ‘Socially responsive’ category at MIPTV’s 360 degree
competition.
In 2012 Mel was the Theme Champion for Business Models and Growth for the Creative
Industries Knowledge Transfer Network. Currently Mel works as a digital business consultant
and also as a Growth Coach for the Growth Accelerator programme.
Summary of the year’s activity
Business Model trends panel – IBM, IDEO, Social optic and MOO
Business Model Workbook – created in collaboration with MOO
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‘The Leap Day Challenge’- A campaign to help companies review their business models.
Business model mapping and evaluation workshop – Creative Clyde, Interactive Scotland and
held at STV.
Workshop on sales and growth – Digital 2012
Talks on Business Models and Growth at the following events: London Book Fair-2012+2013,
Digital Shoreditch, Social Media Week, Building Capacity for the Arts, Social Business Meet
Up
A wide range of companies, experts and stakeholders were consulted and participated in the
year’s activities.
Andy
Bell
Mint Digital
Iain
Bennett
The Fifth Sector
Mandy
Berry
Golant Media Ventures
Wendy
Boast
2change
Frank
Boyd
CIKTN
Charlie
Cadbury
Putitout
Charles Catton
Amber Books
Brian
Condon
Centre for Creative
Collaboration
Kathryn Corrick
Open Data Institute
Tommy Doyle
Reed Elseiver
Niall
Duffy
Media Smiths
Nick
Farnhill
Poke
Matthew Hawn
Consultant
Paul
Johnson
Tuvalu Entertainment
Jon
Kingsbury Nesta
Sandy
Manuel
Geoff
McCormick The Alloy
Will
Micinnes
Nixon Mcinnes
Lisa
Rodwell
Moo
Beatrice Rogers
Business consultant
Creative Industries KTN
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Will
Rowe
Protein
Rubin
Shah
BBC
Juliet
Tzabar
Plug in Media
Nigel
Walker
Technology Strategy Board.
*All participants are listed with the companies they were in at the time of their participation
Meetings- Thank you to all of you who participated via individual meetings.
Special thanks to:
•
Chandler Velu- Judge Business School, Cambridge University
•
Allison Coward- Bracket
•
Graham Hitchen: Consultant
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