An innovative product may be a feat of engineering, but that does not necessarily turn it into a commercial success. What makes the difference between success in the lab and in the marketplace is the business model, which describes how we will create and deliver value for our customers, and how we will extract some of that value for our own organization. The business model encompasses our product or service, our customers, and the economic engine that will enable us to meet our profitability and growth objectives. Business model analysis is important for both startups and new businesses, which need to discover a successful business model, and for established businesses, which often need to defend or evolve their business models.
This course develops a structured way to think about business models and uses exercises and examples to train you in the science of business model analysis and to help you practice the art of business model construction.
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