The course aims at understanding what a business model is, and the reason why a start-up (or a company) needs a strong business model. Additionally, one of the main objectives of this course is to provide the students with the competences to build a business model from scratch. After taking this course, the students will be able to understand who are the customers of a company (or what is its market), what does the company offer to them in terms of added value and how it does that.
The lecture will try to touch upon two fundamental features that a business model should have in order to be successful, namely scalability and replicability.
Furthermore, the lesson will introduce the participants to an extensively used tool, the Business Model Canvas. The attendees will be explained the reason why this tool is helpful and, most of all, why it is important to use it in a pivotal way to constantly challenge the business model of a startup.
The course will go through the core element of the Business Model Canvas, the value proposition, by using the tool of the so called Value Proposition Canvas. On that basis, the students will be taught about all the sections of the Business Model Canvas, namely Customer Segments, Channels, Customer Relations, Key Partnerships, Key Activities, Key Resources, Costs and Revenues.
Additionally, different examples will be given, in order to make the concepts clearer and more practical.
Learning objectives and Outcomes:
· Analyze the business model of a company/startup;
· Describe in a synthetic way a complex business model and understand its main elements;
· Analyze different elements of a business model (individually as well as in relations to other strategic factors).