CS-E5100 Introduction to IT Business and Venturing Aalto Ventures Program and ICT Innovation (by EIT Digital) course

Transcription

1 CS-E5100 Introduction to IT Business and Venturing Aalto Ventures Program and ICT Innovation (by EIT Digital) course 1st Session Sep. 13th, 2016 O-P Mutanen, Hani Tarabichi

2 Teacher: Olli-Pekka Mutanen CURRENT: Professional career and societal activity Head of the Software Business Lab, School of Science, Aalto University Aalto Ventures Program, co-founder and lecturer EIT Master s Programme in ICT Innovation, Coordinator & responsible teacher National Growth Forum (Finland), co-founder & member of the steering group Industrial activities and lecturing related to technology based growth, ecosystems and business BACKGROUND: Co-founder and CEO of IT, Media and Software firms ( ) - MULTILIZER, Inc , Co-founder, CEO and Member of the board The market leader in software globalization technology platform solutions for internationally operating enterprises Product awarded as The Best Globalization Technology of the Year in 2001, 2002 and 2003 in USA - HYPERHOUSE Group: , Co-founder, Director of projects HYPERHOUSE was among the top-three new media" offices in Finland producing corporate wide multimedia solutions and internet services to the leading enterprises and organizations in Finland - INNOVIEW Data Technologies , co-founder, CEO and member of the board Development of software based technologies and solutions, e.g. image compression and archiving technology solutions, multimedia development tools, POS systems, online based real estate solutions CONTACT: fi.linkedin.com/in/opmutanen/, olli-pekka.mutanen@aalto.fi

3 Co-teacher & assistant: Hani Tarabichi CURRENT: Professional background and societal activity PhD Candidate, DIEM Aalto Ventures Program, Co-lecturer Mentor & Coach Research interests in Open Innovation, Design Thinking, and Business Modelling BACKGROUND: - Co-founder of 5 businesses that failed miserably - Co-founder of Syrian Young Entrepreneurs Association - Lead trainer for national business plan competition - Co-founder of PlanIt Consulting - 18 years international trade - 10 years professional executive training

4 Today s agenda 13 th of Sep 1. Motivation: Why this kind of course? 2. Background: Innovation & Entrepreneurship Education at Aalto University. 3. Introduction: Basic information on the course. 4. Theory: Introduction to the value creation logic and the Business Model Canvas tool. 5. Organization: Start forming groups of max 5 persons for the course assignments.

5 1. MOTIVATION

6 There are new challenges in education - why and what kind?

7 (Source: New York Times, 30th of March, 2013)

8 Need a Job? Invent It Tony Wagner, the Harvard education specialist says: college tracks are not consistently adding the value and teaching the skills that matter most in the marketplace. Seeing that as dangerous at a time when there is increasingly no such thing as a high-wage, middleskilled job Now there is only a high-wage, high-skilled job. Source: New York Times,

9 Need a Job? Invent It Every middle-class job today is being pulled up, out or down faster than ever. That is, it either requires more skill or can be done by more people around the world or is being buried - made obsolete - faster than ever. The goal of education today should not be to make every child college ready but innovation ready - ready to add value to whatever they do. Today, because knowledge is available on every Internetconnected device, what you know matters far less than what you can do with what you know. The capacity to innovate the ability to solve problems creatively or bring new possibilities to life and skills like critical thinking, communication and collaboration are far more important than academic knowledge. Source: New York Times,

10 Need a Job? Invent It Our generation had it easy: We just got to find a job. But, more than ever, our kids will have to invent a job. Every young person will still continue to need basic knowledge, but they will need skills and motivation even more. Of the all education goals motivation is the most critical Young people who are intrinsically motivated curious, persistent, and willing to take risks will learn new knowledge and skills continuously. They will be able to find new opportunities or create their own a disposition that will be increasingly important as many traditional careers disappear. Source: New York Times,

11 Motivation is critical for learning. Where to get it in high-growth entrepreneurship education?

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13 What it takes that our well-being will be funded in the future? Consultant Company McKinsey Finland published a report in 2010 stating the conditions under which the Finnish society can maintain its current welfare in the future. According to the report, Finland needs new jobs to be created on private sector by year If taking into account of retirement, the amount is increased by new jobs on private sector resulting in the requirement of over new jobs. In addition, the productivity of publicly funded services should be improved by 1.2 percent per every year. McKinsey believes that these measures will allow us to only preserve the current valuable features of our welfare. Source: McKinsey&Company: Työtä, tekijöitä, tuottavuutta: Suomen prioriteetit seuraavalle vuosikymmenelle 2010.

14 Where new jobs have and will be created?

15 Means to tackle the challenge: Growth entrepreneurship & the related talent Majority of NEW JOBS are born in Young & Small firms in Finland, less than 700 growth firms representing 4,8% share of all companies generated 50% of the total increase in employment* During the last three decades in the USA: Economic growth has been solely based on the value created by growing technology companies, and especially the IT sector ** Companies under 5 years of age have created over 40 million jobs accounting for all of the country s net job growth. *** The role of talent: Case Stanford in Silicon Valley Stanford Entrepreneur companies generate 2,7 trillion USD in revenue annually, and These companies have created 5,4 million new jobs. **** * Source: Kasvuyrityskatsaus, TEM (04/2011) ** Startup Genome, *** President's Council on Jobs and Competitiveness, White House. Interim report **** The Wall Street Journal

16 What is the role of Technology?

17 Job-destroying vs. job-creating effects: Technological advances make our life easier, that is sure. However, robots and automation are eventually going to take all of our job(s), aren t they? Source: Technology and people: The great Job-creating machine. Deloitte

18 About technological innovation and its effects on employment Authors: Ian Stewart, Debapratim De and Alex Cole. Deloitte 2015.

19 How technology affects employment? Laitoksen nimi 10/21/

20 Effect on Employment by type of work Laitoksen nimi 10/21/

21 Conclusions The dominant trend is of contracting employment in agriculture and manufacturing being more than offset by rapid growth in the caring, creative, technology and business services sectors. Machines will take on more repetitive and laborious tasks, but seem no closer to eliminating the need for human labor than at any time in the last 150 years. jobs in certain fields have declined over the rise of technology, but says that the stock of work is not fixed - meaning that when some professions decline, others often spring up in their place. Rather than making human workers redundant, technology has simply shifted work into other areas. Laitoksen nimi 10/21/

22 The data show that technology has created more jobs than it has destroyed in the last 144 years. Source: Technology and people: The great Job-creating machine. Deloitte

23 2. BACKGROUND

24 Growth entrepreneurship education in Aalto University Aalto Ventures Program EIT ICT Labs Master Program

25 Aalto Entrepreneurial Ecosystem

26 Co-creative Entrepreneurship Education For All Aalto Students Minor for Master s

27 >2080 For-credit students > Not for-credit 74 Nationalities 38% Foreign 27% Female

28 AVP provides Aalto students with the inspiration, capability and network necessary to build new scalable businesses

29 AVP Offering Freshmen orientation Thought Leaders Talks Slush volunteer training Courses AVP Minor Workshops Aalto Ecosystem Alumni & Mentors Networking Global Projects Study trips

30 Inspiration Thought Leaders Talks Prominent entrepreneurial leaders share their knowledge & experiences every month

31 Coming Thought Leaders 14 th September Ilkka Paananen 11 th October Tuula Teeri 16 th November Linda Liukas CEO & co-founder of Supercell President of Aalto University Author of Hello Ruby, cofounder of RailsGirls

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35 Capability AVP Minor Over 20 courses available avp.aalto.fi/courses Startup track With focus on Startups Prototype track With focus on product development Electives

36 Capability Aalto Fellows A five-month study and work program designed to develop theoretical & practical understanding of techniques for growing companies.

37 Capability Startup Experience AVP flagship course for student teams starting their own startup. The teams work on both developing their customer offering and on the company that can deliver the offering and make a profit.

38 Network Study trips Aalto students participated in European Innovation Academy in 2015

39 Network Study trips One of AVP s international study trips is Urban Challenge, a two week long trip to New York & Philadelphia

40 AVP Global Network 5 Universities in the nordic countries 20 Universities in Europe AF Aalto Fellows exploring Israel s ecosystem Aalto Fellows exploring New York s ecosystem AF Malta Conference Foundation Bridge to Peace in Middle East Aalto Fellows exploring AF Cape Town s ecosystem

41 avp.aalto.fi Facebook: Aalto Ventures Program

42 #eitdigital16 Innovation and Entrepreneurship (I&E) Education at EIT Digital Master and Doctoral Schools

43 About EIT Digital Pan-European Vibrant Ecosystem of Innovation Hotspots Leading European organisation for innovation and education in ICT Over 130 partner universities, research centres and companies all over Europe Fostering innovative technology and entrepreneurial talent for economic growth and quality of life in Europe. Known as EIT ICT Labs, new name EIT Digital as of 1 June, 2015

44 Entrepreneurial education EIT Digital educates a new generation of ICT thought leaders, innovators, and knowledge workers by providing excellent technical programs with deeply embedded innovation and entrepreneurship education. Tomorrow s ICT Innovators and Entrepreneurs Tomorrow s ICT Leaders Lifelong at the frontier of ICT Innovation

45 Innovation & Entrepreneurship Education at EIT Digital Master School 30 ECTS Driving Digital Europe's Transformation - Conference & Exhibition - 12 April 2016 Brussels

46 Innovation & Entrepreneurship Education at EIT Digital Master & Doctoral Schools Deployed in > 15 universities of the Master School, 30 ects Deployed in 7 Doctoral Training Centres (DTCs) Driving Digital Europe's Transformation - Conference & Exhibition - 12 April 2016 Brussels

47 Master School I&E Minor specifications I&E courses relative positioning Ideation Opportunity recognition Concept design Customer discovery Business modeling Business planning Company building Company development Bus Dev Lab (team project, applied lectures) I&E Basics (lectures, cases) Summer Schools (team project, domain specific)

48 3. COURSE INFORMATION

49 Innovation & Entrepreneurship Minor (1 st year) CS-E Introduction to IT Business and Venturing (2 ECTS) CS-E Management of a Technology Venture (5 ECTS) TU-E Startup Experience (9 ECTS) CS-E Growth and Internationalization of Technology SMEs (4 ECTS) ENGAGEMENT TO TECH BUSINESS CS-E5100 TECH BUSINESS MANAGEMENT CS-E5110 ENTREPRENEURSHIP IN REAL TU-E4100 GOING GLOBAL W/ TECH FIRMS CS-E440 Period I-II Period I-II Periods III-IV Period V Introduction and basic motivation to taking Business & Venturing studies in ICT as part of engineering education. A holistic picture of what managers and founders of ICT businesses need to consider at their work. Offers an integrated experience into entrepreneurship as an acting member (role) in a startup team. Go-to market planning for growth-oriented high technology SMEs in various stages of int n process.

50 CS-E5100 Introduction to IT Business and Venturing (2 ECTS) Goals Contents Teaching Methods Execution Domain Additional information To create initial understanding on the value creation of an information technology based firm, to learn the basics on the local and the global ICT industry, how to recognize and classify different business models and how to analyze the factors affecting the success of a venture based on business models and strategies. Basic information of the Finnish and the global software industry. Theory base for the relation of value creation and business models, and different business models based or dependent on information technology. Assignments consist of business model analysis, development and creation for real high-technology firms. Lectures (theory base and firm presentations), experiential learning in small entrepreneurial teams, group & personal feedback. Assignments on firms business model analysis and design. Participation to lectures not compulsary but required in practice. Information Technology (IT) business as the focus domain area.

51 Basic information on course CS-E5100 Periods I (lectures) II (assigments), 2 ECTS course Language: English Lectured on Tuesdays 13.9, 20.9, 27.9 and 4.10 at 10:15-12:00 hours in lecture hall AS1 Exercises: Two written assignments on business modeling of real business cases, and oral presentation Groups presenting the results to panel 1.11 (AVP space) Assessment: Grading will be based on assignments and presentation. Participation in lectures firmly supports completing the course.

52 Workload of the course The expected student work hours (2cr 54 hours): Lectures and final presentation: 11 h Course assignments and related individual work: 43 h Assignments consist of working in groups of appr. 5 students, with the organization of the groups work managed by each group (course personnel provides support for organizing as well as group work guidance)

53 Contents of the course IT technology (in practice software) business - what it is, the local and global perspective, relevant theories and current trends. Venturing (entrepreneurship) activity what it is and why it is so important to modern societies. Presenting the Business Model concept and the related VPC and BMC tools definitions, contents, and how to use The lectures and the material of the course present a variety of business models based on information technology The course discusses how these elements influence firm s strategy and relate to other functions of the firm (such as R&D, sales, etc.) Business cases demonstrated by real-life startup teams Group assignments will be based on applying the toolkits such as VPC (Value proposition canvas) and BMC (Business Model Canvas) to the contents of the business case presentations and other acquirable data

54 Intended learning outcomes (ILOs) Understanding of the general process and roles involved in developing an idea and starting up a new technology-based venture. Value creation logic of an early phase business case or company; The ability to systematically explore customers and markets; Basic characteristics of information technology business and venturing; Process of designing a business model for a new technology-based venture; Recognizing and classifying technology and service based business models and analyzing factors in them having effect on the success of a venture. This course aims to provide also understanding, knowledge & skills regarding: The role entrepreneurial spirit & mindset; The role and impact of technology in business and economy; Importance of young and growing businesses to economies; Toolkits like the Value Proposition Canvas and Business Model Canvas; Real-life business cases;

55 Course Assignments To be done in groups of 4-6 persons Two (2) written assignments based on business case presentations, a (oral) presentation of the results Case presentations implies an implicit requirement to attend the lectures. Assignments include e.g. the following: Description and analysis of the startup s current business model Further development of startup s current business model Presentation of the final analysis to the class Assignments will be described during the lectures Case firm presentations and 1 st assignment on Sep 27th In practice, you can start doing the assignments as soon as you have formed the group and seen the case presentations (however, no earlier than 27.9)

56 Theory for course exercises Business Model Canvas is presented in the book: Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Alexander Osterwalder and Yves Pigneur, 2010 You can download the 1 st part of the book including canvas description ( for free at address: ) Value Proposition Canvas is presented in the book: Value Proposition Design. Alex Osterwalder, Yves Pigneur, Greg Bernada and Alan Smith 2014 You can download the 1 st part of the book including canvas description ( for free at address:

57 Course Literature: 1st Book Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers by Alexander Osterwalder Free chapter:

58 Course Literature: 2nd Book The Value Proposition Design Companion Alex Osterwalder, Yves Pigneur, Greg Bernarda and Alan Smith (2014). Download the first 100 pages for free:

59 1. THEORY - VALUE CREATION & BUSINESS MODEL CANVAS TOOL

60 The Spirit!!! Create Value Build New Business Improve and transforms organizations Innovative way of thinking Visionary Game changer Challenge driven

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62 Something interesting is Happening!!!

63 Startups.vs. Companies Startups are NOT simply smaller versions of large companies. Companies execute business models where: Customers their problems and necessary product features are all knowns.

64 Startups.vs. Companies In sharp contrast, startups operate in search mode, seeking a repeatable and profitable business model. The search for a business model requires dramatically different rules, roadmaps, skill sets, and tools in order to minimize risk and optimize chances for success.

65 Startup is: A startup is a temporary organization in search of a: Scalable Repeatable profitable business model. At the outset, the startup business model is a canvas covered with ideas and guesses, but it has no customers and minimal customer knowledge.

66 What separates startups from established companies? Startups are younger and smaller in size Startups are fast in decisions and operations Startups utilize informal methods being agile Startups are good at innovating Startups have low cost structure ( bootstrapping ) Startups have usually higher risk, and higher return on investment potential Startups benefit from industry disruptions Startups can potentially grow very rapidly with limited resources ( scalable )

67 Definition for a scalable startup A startup is an temporary organization used to search for a repeatable and scalable business model. (Steve Blank, 2011)

68 Lessons learned (steveblank.com) While large companies execute known business models based on already known facts, for startups the most design parameters are unknown in their search for a scalable business model The goal of your early business model can be revenue, profits, or users, or click-throughs whatever startup owners and investors have agreed upon Money is not always the best indicator for success in startup context Customer Development and Lean Startup models are the methods for startups to quickly iterate and test the early hypotheses about the business model See more e.g. Most startups change their business model multiple times and it is just a normal type of action for them

69 Rationale behind the Business Model Canvas (BMC) There is a need for a shared concept that everybody understands enabling description and commensurate discussion about business model(s) Model must be simple, relevant & intuitively understandable, but not over-simplifying the complexities of how an enterprise function. Differentiating business model from other concepts, such as a revenue model, strategy etc. BMC tool describes any business model with 9 building blocks indicating the logic how company intends to make money Covers four main areas of business: Customers, offering, infrastructure, and financial viability To describe, analyze, design and validate any business model A blueprint for a strategy to be implemented through organizational structures, processes, and systems Source: Alexander Osterwalder and Yves Pigneur, 2010

70 Definition for a Business Model A Business Model describes the rationale how an organization creates, delivers and captures value. Source: Alexander Osterwalder and Yves Pigneur, 2010

71 The 9 Building Blocks Source: Alexander Osterwalder and Yves Pigneur, 2010

72 The 9 Building Blocks (Cont d) Source: Alexander Osterwalder and Yves Pigneur, 2010

73 The whole Business Model Blocks divided in two parts Source: Alexander Osterwalder and Yves Pigneur, 2010

74 Business Model The 1st part The value part Source: Alexander Osterwalder and Yves Pigneur, 2010

75 Business Model The 2 nd part The efficiency part Source: Alexander Osterwalder and Yves Pigneur, 2010

76 1. Customer Segments ( The heart of any Business Model, source for revenues) A decision for whom value - based on needs or problems - is intended to be created? What are the different groups - distinct segments - with common needs, challenges, behaviors and other attributes? Who are the most important customers? Different types: Mass market (e.g. consumer electronics) Niche market (e.g. suppliers-manufacturers) Cater to specialized customer segments Segmented market (e.g. banks, clients) Diversified market (e.g. Amazon) Serving two unrelated customer segments Multisided market (e.g. Visa, Google) Serving two or more interdependent segments Customers grouped as separate segments IF they: Present different needs justifying distinct offer; are reached through different distribution channels; require different types of relationships; have drastically different profitability; Are willing to pay for different aspects of the offering; Source: Alexander Osterwalder and Yves Pigneur, 2010

77 2. Value Propositions ( A bundle of benefits offered customers ) What is the value to be delivered? Which customers problems to be solved? What are customer needs to be satisfied? Bundle of products and services targeted to requirements of certain Customer Segment Disruptive vs. Incremental offers Factors contributing to value experienced by client: Newness (e.g. cell phones, ipad) Performance (e.g. PCs, graphic cards, cars) Customization (e.g. personal training program, colored mobile covers) Convenience/usability (e.g. IPod & music biz) Design, brand and status (e.g. fashion business and consumer electronics; Rolex Savings in time (e.g. navigator) Carrying the whole responsibility (e.g. Rolls-Royce, manuf. & service) Cost savings (e.g. cloud computing services, SaaS e.g. Salesforce.com) Price cut (e.g. no frills airlines, totally free offerings) Reduced risks (e.g. service level guarantee, longer warranty) Increased accessibility (e.g. new business models & technologies) Source: Alexander Osterwalder and Yves Pigneur, 2010

78 3. Channels ( Company s interface to customers ) How to reach targeted Customer Segments to deliver a Value Proposition? Which Communication, Sales and Distribution channels are the most cost-efficient ones? How to find a right balance between different types of channels in order to create a good customer experience? Channel functions: Raising awareness among customers about company s offering Enabling customers to evaluate of company s value proposition (offering) Enabling and helping customers to purchase products and services Enabling the delivery of the value proposition to customers Pre/post-purchase customer support Source: Alexander Osterwalder and Yves Pigneur, 2010

79 4. Customer Relationships (ways to deal with customers, to acquire & retent clients and boost sales) What type of relationship(s) do our customer segment(s) require? How cost-efficient they are? How relations are aligned and integrated with rest of the business model? Different types of Customer Relationships: (Dedicated or not) personal assistance (real customer representative, e.g. financial services) Self-service ( help yourself model, includes everything needed for customers to help each other) Automated services (customer self-service model combined with automated processes; simulate personal relationships) User (online) communities enabling users to help each other and company to better understand its customers Value co-creation inviting customers to create value to other customers (and thus also to the vendor); blurs the traditional customer-vendor relationship, e.g. Amazon.com / Taobao Source: Alexander Osterwalder and Yves Pigneur, 2010

80 5. Revenue Streams ( Arteries of a business model ) For what value are customers ready to pay? What are preferred ways for customers to pay, how they pay currently? What is the overall revenue structure and how much each stream contributes to it? Ways to generate Revenue Streams: Asset sale (selling ownership rights) Usage fee (generated by the use of a service) Subscription fee (selling continuous access to a service) Lending, Renting and Leasing (temporal exclusive right to use a particular asset for a fixed period of time) Licensing (granting customers right to use protected IPR in exchange for licensing fee, e.g. right to use patented technology against the license fee; media industry, patent) Brokerage fee (derives from intermediation services performed on behalf of the other parties, e.g. credit card companies earning revenues from each sales transaction) Advertising fees (from advertising an offering or a brand) Different pricing mechanisms: Fixed Pricing List price Product feature dependent Customer segment dependent Volume dependent Dynamic Pricing Auctions (price based on competitive bidding; ebay/alibaba) Negotiation (price based on power/skills); Based on supply and demand ( real-timemarket price) Time and capacity dependent pricing (hotels, Stockholm-Helsinki ferries) Source: Alexander Osterwalder and Yves Pigneur, 2010

81 Business Model The 2 nd part The efficiency part Source: Alexander Osterwalder and Yves Pigneur, 2010

82 6. Key Resources ( most important assets required to make a business model to work ) What Key Resources are needed to provide the Value Propositions? How about Distribution Channels, Customer Relationships and Revenue Streams? Different categories: Physical assets e.g. buildings, manufacturing facilities, machines, POS and other systems, distribution networks, etc. Intellectual resources e.g. brands, patents, copyrights, knowledge skills, customer DBs, trademark, etc. (Nike, Sony, Microsoft, Qualcom) Human resources are needed by all firms, but extremely important in knowledge intensive and creative industries (e.g. pharma, biotech, nanotech, software/ict, ) Financial assets and guarantees such as cash, credit, stock option pool and company valuation Source: Alexander Osterwalder and Yves Pigneur, 2010

83 7. Key Activities ( Most important actions a company must do to make its business model to work ) What Key Activities are needed to fulfill the value proposition(s)? How about Distribution channels, Customer Relationships and Revenue Streams? Different categories: Production (needed to design, make and deliver a product meeting the required volumes or quality) Problem solving (coming up with new solutions to individual customer problems, e.g. service orgs) Platform/Network (for BMs designed with a platform as a key resource, e.g. ebay s web maintenance or guaranteeing Microsoft Windows compatibility with 3 rd parties complementary software, etc.) Source: Alexander Osterwalder and Yves Pigneur, 2010

84 8. Key Partnerships ( Network making the business model work ) Who are the Key Partners for our business? Which Key Resources we need to acquire via partners? Which Key Activities do partners perform? Drivers to create partnerships: Optimization and economy of scale to optimize the allocation of resources and activities avoiding the direct ownership of them (e.g. outsourcing and sharing infrastructure). Reducing risk and uncertainty e.g. competitors forming a strategic alliance in one market segment and competing in other segment (e.g. Blue-ray format) Acquisition of resources and activities to extend own resources by relying on other firms in order to acquire knowledge, licenses or access to customers (e.g. Nokia-Microsoft) Different types of partnerships: Strategic alliances between noncompetitors Strategic partnerships between competitors Coopetition model Joint ventures to build and develop new businesses Buyer-supplier relationships to assure reliable supplies Source: Alexander Osterwalder and Yves Pigneur, 2010

85 9. Cost Structure ( What does it cost to operate the business model ) What are the most important costs? Which Key Resources and Key Activities are most expensive? What is the overall cost structure? Different types of cost structures: Fixed costs remain the same despite of the volume of produced goods and services (e.g. salaries, rents, industrial investments) Variable costs vary with the volume of the offerings produced, e.g. services provided for masses of people Economies of scale are cost advantages achieved by businesses as their volume of output rises and average cost per unit falls. Economies of scope cost advantage a business gets due to the larger scope of operations, e.g. using the same distribution channels for multiple products. The classification of cost structures: A. Cost Driven business models aims at creating the lowest possible cost structure (with e.g. automation and outsourcing) B. Value-driven business models concentrate on value creation resulting in higher costs, e.g. fashion and jewellery business, luxury-level service offerings. Source: Alexander Osterwalder and Yves Pigneur, 2010

86 Source: Alexander Osterwalder and Yves Pigneur, 2010

87 How to use it? A short introduction Source: Alexander Osterwalder and Yves Pigneur, 2010

88 An example: Apple ipod/itunes Source: Alexander Osterwalder and Yves Pigneur, 2010

89 [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] [ Insert text here ] Source: Alexander Osterwalder and Yves Pigneur, 2010

90 Example: Nespresso Business Model ness-models-that-work-and-valuepropositions-that-sell/1/1/3 Source: Alexander Osterwalder and Yves Pigneur, 2010

91 See you on the next lecture 20 th of Sep. at 10:15! THANK YOU!