What is Business Model Design?
A business model describes the way an organization works - the specific way in which value is created and profits are made. As an entrepreneur, you shape your business with certain key factors to ensure business success and avoid failure. From time to time it is worth putting your own business model to the test in order to check whether it has to be adapted to changing market conditions.
Using the Business Model Canvas (which was developed by Alexander Osterwalder and Yves Pigneur) it is possible to describe your own business model effortlessly and bring it to a new, innovative level with the use of complementary methods.
This method belongs - because of its iterative approach - to the agile methods. With Design Thinking, for example, a new product or a new service can be found, which is then replaced by a new or changed business model will be launched on the market.
What is 360º Business Model Design?
Here, too, we use our 360° model as a basis - in order to consider as many perspectives as possible. For example, it is important to include trends, competitors and political developments when establishing a new business model.
How does Business Model Design work?
You describe your current business model through a simplified view of the key factors of your company in the form of the "Business Model Canvas". In different steps this becomes more innovative ...
- New aspects
- Inclusion of different perspectives
- Comparison with other business models
- Trends and market developments
- New ideas
Why is Business Model Design relevant?
Through the Internet and the digitalization wave, it is important to develop new, innovative business models to ensure the survival of the business. The more simple and routine activities are replaced by technology, the more important it becomes to keep jobs through innovation or create new ones to secure the future for all of us.