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BUSINESS MODEL INNOVATION WORKSHOP

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“Your business model describes the rationale for how your organization creates, delivers, and captures value.”

Creating a shared language that is simple, relevant and easy for everyone to understand will serve as a blueprint for developing a Strategic Action Plan that will help you to stand out from your competition.

Core Elements of a Successful Business Model

  • Unique position that defines who you are 
  • Strong grasp of future market trends and the moves you need to make to succeed
  • Lower cost base than competitors or a highly differentiated offering that cannot be easily copied


What should the epicenter of your business model be?

Operational Excellence: Maintaining profits by conducting business on a larger scale and with greater cost efficiencies than competitors. Example: Walmart

Customer Intimacy: Developing new products and services based on customer needs, increased convenience, and facilitated access. Example: Salesforce.com

Product Leadership: Leading customers into the future via new technology and product innovations. Example: Apple.

The Approach: What To Expect


Step 1 – The Ideation Process 

  • Generate as many ideas as possible;
  • Manipulate different “what if?” scenarios that could meet unsatisfied, new or hidden customer needs;
  • What innovations can you imagine for each business model building block?

Day 2 – Criteria Selection & Prototyping 

  • Define the most important criteria for prioritizing ideas to a manageable few;
  • Criteria could include estimated implementation time, revenue potential, possible customer or internal resistance and impact on competitive advantage;
  • Create a short-list of three to five potential business model innovations. 
  • Use the Business Model Canvas to sketch out and discuss each idea as a prototype. 
  • Select which one you will pursue along with the Top 3 Strategic priorities to focus on.

Results

Your team will walk away with a simple, one-page action plan based on the concept of “dual vision”, which means balancing short-term projects, related to improving the current core business and meeting the needs of today’s customers, with long-term, bold strategic moves away from the status quo that will reshape and define your vision for the future. 

See how Essilor Canada benefited...