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Description
Flashcards by Emily Bramhall, updated more than 1 year ago
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Created by Emily Bramhall
over 7 years ago
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| Question | Answer |
| What type of success are those who are modifying their business models receiving? | Financial |
| What do Baden-Fuller et al (2008) define a business model as? | The logic of the firm, the way it operated and how it created value for its stakeholders |
| What nine elements make up the business model canvas? | Key partners, key activities, key resources, cost structure, value proposition, customer relationships, channels, revenue streams and customer segments |
| Why did Apple become more successful than HTC? | They both created innovative hardware but Apple recognised a consumer need and began to create relationships with the customer through the creation of ITunes |
| What other business model does this customer relationship remind you of? | Gillette's 'razor and blades' model |
| List three benefits of business model innovation. | Cost reduction, strategic flexibility and embracing emerging growth opportunities |
| What does the content of an activity system refer to? Give an example. | The selection of activities to be performed and IBM |
| What does the structure of the activity system refer to? Give an example. | How the activities are linked and in what sequence, and Priceline.com |
| What does the governance of an activity system refer to? Give an example. | Who performs the activity and Next Issue Media |
| What does an industry model approach involve? | Innovating the industry value chain horizontally, by redefining existing industries or developing entirely new industries |
| What does a revenue model approach involve? | Innovations in how companies generate revenues by reconfiguring offerings and/or by introducing new pricing models |
| An enterprise model approach involves... | Innovating the structure of the enterprise and the role it plays in new or existing value chains |
| What makes up Johnson et al. 'Reinventing your business model'? | Customer value proposition, profit formula and key resources and processes |
| What four elements make up the business model innovation framework? | Value proposition, human capital, operational value and financial value |
| What three components make up the digital business model according to Weill & Woerner? | Content, experience and platform |
| What does your starting point depend on? | Your strategic goals |
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