CHAPTER 7
Business Model
Content Summary
Business model is a model describing how do you make your concept or idea work in the real world. Especially, how do you make the concept sustainable in the long term. How do people access your service or product and get to use it in the way it was intended to be used? A business model is not only about “creating business” it is the core of the concept, the engine that keeps on running year after year.
This lecture covers the individual parts of a business model following the popular Business Model Canvas’s breakdown. The revenue model describes the exchange of value between your customer and you, the cost structure consists of the related costs of running and operating the customer journey, the key elements of EBIT are the critical elements influencing the profit of the whole thing.
Further readings
- Video: Jeff Gothelf: Lean, Agile & Design Thinking — Principles over process. YLE Areena.
- Kanter, R.M., 1989. Swimming in newstreams: Mastering innovation dilemmas. California Management Review, 31(4), pp.45–69.
- Schneider, J. Understanding Design Thinking, Lean, and Agile. O’Reilly 2017.
- Gothelf, J. Lean vs. Agile vs. Design Thinking. Sense and Respond Press, 2017.
- Wenger, E. Communities of Practice: Learning, Meaning, and Identity ,Cambridge University Press, 1998.
