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E&I 2008-09 Lecture 4 Handout

E&I 2008-09 Lecture 4 Handout

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Published by: ghufran778832 on Apr 15, 2009
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Entrepreneurship and Innovation
Vision and plans: Mapping theoutlines of a new venture
Dr Nigel Lockettn.j.lockett@bradford.ac.uk
2/16 © Lockett 2009
What is a business model?
An architecture for the product, service and informationflows, including a description of the various businessactors and their roles; and a description of the potentialbenefits for the various business actors; and descriptionof the sources of revenues . . . and marketing plan.(Timmers 2000)Are inventing new value propositions, transforming therules of competition, and mobilizing people andresources to unprecedented levels of performance. Is adistinct system of suppliers, distributors, commerceservices providers, and customers that use the Internetfor their primary business communications andtransactions. (Tapscott et al 2000)
3/16 © Lockett 2009
What it [BM] isn’t!
Business models describe, as a system,how the pieces fit together. But they don’tfactor in one critical dimension ofperformance: competition … that … isstrategy’s job (Magretta2002)
Magretta(2002) Why Business Models Matter
4/16 © Lockett 2009
Why are BMs useful?
Supports analysis
 –Components –Assumptions
Enables comparison
Meaningful taxonomies
 –Trends –Change
5/16 © Lockett 2009
BM components
Architecture for:
 –Product –Service –Information flows
Description of:
 –Actors & their roles –Potential benefits for actors –Sources of revenues
Marketing strategy
Timmers(2000) Electronic Commerce: Strategies and Models for B to B Trading
6/16 © Lockett 2009
BM components
Hamel (2000) Leading the Revolution
Customer BenefitsConfigurationCompany BoundariesEfficiency / Uniqueness / Fit / Profit / Booster
Fulfilment & SupportInformation & InsightRelationshipdynamicsPricing structureBusiness missionProduct/market scopeBasis fordifferentiationCore competenciesStrategic assetsCore processesSuppliersPartnersCoalitions

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