Kap6primerentrepreneuruka

Kap6primerentrepreneuruka - AprimerinEntrepreneurship...

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A primer in Entrepreneurship Prof. Dr. Ulrich Kaiser stitute r trategy d usiness Economics Institute for Strategy and Business Economics University of Zurich Spring semester 2008
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Chapter 6: Developing an Effective Business Model Table of Contents I. Business Models A. What is a Business Model? B. The importance of a Business Model C. How Business Models Emerge . otential Fatal Flaws of Business Models D. Potential Fatal Flaws of Business Models II. Components of an Effective Business Model A. Core strategy trategic resources B. Strategic resources C. Partnership network D. Customer interface University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 2
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I. Business Models . business model is a firm’s plan or diagram for how it competes, uses its A. What is a Business Model? 1. A business model is a firm s plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it earns. 2. It’s important to understand that a firm’s business model takes it beyond its own boundaries. Almost all firms partner with others to make their business models work. 3. There is no standard business model, no hard and fast rules that dictate how firms in a particular industry should compete. 4. The term business model innovation refers to initiatives such as that undertaken by Michael Dell that revolutionized how products are sold in an industry. University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 3
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I. Business Models 5. The development of a firm’s business model follows the feasibility A. What is a Business Model? analysis stage of launching a new venture but comes before the completion of a business plan. a. If a firm has conducted a feasibility analysis and knows that it has a product or service with potential, the business model stage addresses how to surround it with a core strategy, a partnership model, a customer interface, distinctive resources, and an approach to creating value that represents a viable business model. b. At the business model development stage, it is premature for a new venture to raise money, hire a lot of employees, establish artnerships or implement a marketing plan A firm needs to have a partnerships, or implement a marketing plan. A firm needs to have a business model in place before it can make additional substantive decisions. University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Spring semester 2008 4
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I. Business Models Digression: Dell In Dell’s case, it needs the cooperation of its suppliers, shippers, customers, and many others to make its business model possible.
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Kap6primerentrepreneuruka - AprimerinEntrepreneurship...

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