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Creative Business Models

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Based on an Executive Education Program conducted at IIM Bangalore, here's a presentation on the elements of a Creative Business Model. Following topics are covered here:
Primer on Creativity for Businesses
Key components of Business Models
Comparative Analysis for Business Models
Types of Product Pricing Strategies
Creating New Customer Segments and Channels
Creating Winning Value Propositions

Publié dans : Design
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Creative Business Models

  1. 1. Creative Business Models Dr. Pavan Soni Innovation Evangelist and Founder Inflexion Point Consulting Innovation.evangelist@gmail.com www.InflexionPoint.net
  2. 2. About Dr. Pavan Soni • PhD from IIM Bangalore (Corporate Strategy & Policy) • Former Innovation Evangelist atWipro (6 years) • Only Indian to be shortlisted for the Financial Times and McKinsey Business Book of theYear Award- 2016 • Bachelor of Engineering- MBM Engineering College Jodhpur (Branch Topper) and PGDIE- NITIE Mumbai • Recipient of ‘On-the-Job Achiever Award’- Lakshya- CII Mumbai in 2007 for the work on Innovation • Associated with ASSOCHEM, CII, NASSCOM, Bangalore Chamber of Industry and Commerce, and Karnataka Knowledge Commission • Columnist atYourStory, Inc42, Entrepreneur, and People Matters • Five times TEDx speaker • Coach at NSRCEL of IIM Bangalore and Founder Institute • Advisory Board member at World Trade Center and Utilis Capital READING | WRITING |TEACHING | COACHING www.PavanSoni.com linkedin.com/in/pavansoni facebook.com/drpavansoni @Pavan_Soni youtube.com/user/innov6 www.PavanSoni.com 2
  3. 3. Corporate clients (indicative ) www.PavanSoni.com 3
  4. 4. Agenda Primer on Creativity for Businesses Key components of Business Models Comparative Analysis for Business Models Types of Product Pricing Strategies Creating New Customer Segments and Channels Creating Winning Value Propositions www.PavanSoni.com 4
  5. 5. Vocabulary of Innovation and Creativity 5
  6. 6. Invention ≠ Innovation 6 Most Innovative Firms- 2017 Highest R&D spent- 2016 Most patents granted- 2016 Volkswagen Samsung Amazon Google Intel Microsoft Roche Novartis J&J Toyota Apple Google Microsoft Amazon Samsung Tesla Facebook IBM Uber Alibaba IBM Samsung Canon Intel Google Qualcomm General Electric Microsoft LG Electronics TSMC 6/8/2018 Pavan Soni | www.PavanSoni.com | Source: BCG, Booz & Co., USPTO
  7. 7. 6/8/2018 Pavan Soni, Innovation Evangelist 7
  8. 8. 6/8/2018 Pavan Soni, Innovation Evangelist 8
  9. 9. 6/8/2018 Pavan Soni, Innovation Evangelist 9
  10. 10. R&D doesn’t impact performance 6/8/2018 Pavan Soni, Innovation Evangelist 10 Source: Strategy&
  11. 11. The vocabulary 11 Creativity Novelty Utility+= Level of operation= Individual or Teams Innovation New concept Commercialization+= Level of operation= Organization
  12. 12. Inventors are not always innovators 6/8/2018 Pavan Soni, Innovation Evangelist 12 Incumbent Missed innovation Innovator Real loss in incumbent's market cap % drop in incumbent's market cap Est. gain in innovator's market cap Time period Yahoo! PageRank search Google $27 billion 60% $98 billion 2005- 2012 HP Touch-screen tablets Apple $43 billion 47% $258 billion 2010- 2012 Nokia Touch-screen smartphones Apple $95 billion 87% $195 billion 2007- 2012 RIM Touch-screen smartphones Apple $60 billion 90% $195 billion 2007- 2012 Sony LCD screens Samsung $6 billion 23% $144 billion 1996- 2006
  13. 13. The process view of ‘Innovation’ 13
  14. 14. How Corning approaches innovation 1. What, if any, are the key megatrends driving the opportunity? 2. Is the opportunity potentially large? 3. Is the problem significant — requiring a step- change in cost or capability? 4. What is the hypothetical value proposition? 5. Is Corning’s approach unique? 6. Is there a possibility for significant differentiation? 7. Does it fit Corning’s materials and process expertise? 8. Are the required resources available?
  15. 15. Measuring innovation www.PavanSoni.com 15
  16. 16. So, what is innovation? It’s a new concept commercialized It’s not same as invention or R&D Happens at the level of an organization Doesn’t need you to be a first mover Is specific to the context Is measurable, but not always quantitatively 6/8/2018 Pavan Soni, Innovation Evangelist 16
  17. 17. Key components of Business Models 17
  18. 18. Why Business Models? www.PavanSoni.com 18 New Product Development is often costly and uncertain process. a new product may not always be a winning product !
  19. 19. It’s not just the product! www.PavanSoni.com 19 * Diamond Multimedia launched Rio (MP3 player) in 1998. Hardware + Software + Services
  20. 20. Doesn’t have to be technological! www.PavanSoni.com 20
  21. 21. Business Model Canvas www.PavanSoni.com 21
  22. 22. Business Model Canvas www.PavanSoni.com 22 Value Creation Value Delivery Value Capture
  23. 23. Who is capturing the value? www.PavanSoni.com 23
  24. 24. The Apple Story www.PavanSoni.com 24
  25. 25. 1. Customer segments www.PavanSoni.com 25 Geography Demographics Psychographics Benefits sought Usage rate
  26. 26. 2. Value Proposition 26 Newness Performance Customizatio n “Getting the job done” Design Brand/ status Price Cost reduction Risk reduction Accessibility Convenience / usability Helping a customer get a job done!
  27. 27. 3. Channels www.PavanSoni.com 27 Online store Online marketplace Mobile apps Omnichannel Retailer Company store Wholesale Partner stores …
  28. 28. 4. Customer Relationships www.PavanSoni.com 28 Personal assistance Self-service Call centre Physical helpdesk Automated services Communities Co-creation
  29. 29. 5. Revenue streams 29 Asset sales Usage fee Subscription fee Lending/ Renting/ Leasing Licensing Brokerage fee Advertising …
  30. 30. 6. Key Resources Physical Intellectual Human Financial …
  31. 31. 7. Key Activities Marketing Designing Producing Selling Operating Network …
  32. 32. 8.Key partnerships • Strategic alliances • Co-opetition • Joint ventures • Buyer-supplier ties www.PavanSoni.com 3 2
  33. 33. 9. Cost structure • Fixed cost • Variable cost • Economies of scale • Economies of scope www.PavanSoni.com 33
  34. 34. The Nine Elements of Business Model www.PavanSoni.com 34
  35. 35. Red Hat Linux business model Key Partners ✓ Linux Open Source development community Key Activities ✓ Software support services ✓ Software visioning and testing Value Proposition ✓ Free (Linux) open source based software ✓ Continuous upgraded, services and guaranteed software Customer Relation ✓ Self service and direct access to engineers Customer Segments ✓ Advertisers ✓ Web surfers ✓ Content owners Key Resources ✓ Red Hat (Linux) software Channels ✓ Redhat.com ✓ Red Hat global branches Cost Structure ✓ Elements of a service company Revenue Streams ✓ Professional subscription ✓ Free software 6/8/2018 35Business Model Generation (Osterwalder and Pigneur, 2010)
  36. 36. Gillette: ‘Bait and hook’ business model 6/8/2018 Business Model Generation (Osterwalder and Pigneur, 2010) 36 Key Partners ✓ Manufacturers ✓ Retailers Key Activities ✓ Marketing ✓ R&D ✓ Logistics Value Proposition ✓ Razor handle ✓ Blades Customer Relation ✓ Built-in ‘lock-in’ Customer Segments ✓ Customers Key Resources ✓ Brand ✓ Patents (blocking) Channels ✓ Retail Cost Structure ✓ Marketing ✓ Manufacturing ✓ Logistics ✓ R&D Revenue Streams ✓ One time hand purchase ✓ Frequent blade replacement
  37. 37. Comparative analysis of business models 37
  38. 38. PSP/ Xbox versus Wii focus 6/8/2018 Business Model Generation (Osterwalder and Pigneur, 2010) 38 Key Partners Key Activities Value Proposition ✓ High performan ce console ✓ Console audience Customer Relation Customer Segments ✓ Hardcore gamers ✓ Game developers Key Resources Channels Cost Structure Revenue Streams ✓ Hardware sales at a loss ✓ Royalties from developers Key Partners Key Activities Value Proposition ✓ Family console ✓ Access to console users ✓ Cheap game development cost Customer Relation Customer Segments ✓ Casual gamers ✓ Game developersKey Resources Channels Cost Structure Revenue Streams ✓ Profitable hardware sales ✓ Royalties from developers
  39. 39. Competing beyond (stated) parameters! www.PavanSoni.com 39
  40. 40. Outside-in versus inside-out approaches 6/8/2018 Business Model Generation (Osterwalder and Pigneur, 2010) 40 Key Partners ✓ Other company’s IP ✓ External scientists ✓ Retires scientists Key Activities ✓ Internal R&D Key Resources ✓ Internal R&D Cost Structure ✓ Leveraging internal R&D Value Proposition ✓ IP for underserved diseases Customer Relation ✓ Acquisition ✓ Retention Customer Segments ✓ Outside researchers Channels ✓ Patent pools Revenue Streams ✓ License fee Procter & Gamble: Connect and Develop GlaxoSmithKline: Patent Pools
  41. 41. Nestle Nespresso (against analytics) www.PavanSoni.com 41
  42. 42. Starbucks instant coffee (an experiment) www.PavanSoni.com 42
  43. 43. Apple iPad www.PavanSoni.com 4 3 25% + Profit Margins
  44. 44. Amazon Kindle (breaking even) www.PavanSoni.com 44
  45. 45. How did Indigo make it big? www.PavanSoni.com 45
  46. 46. www.PavanSoni.com 46 ✓ One time, every time ✓ Tier-II connectivity ✓ Frequent flights ✓ Convenience and simplicity (web and apps) ✓ Self-check-in ✓ Minimalism ✓ Business customers (pre-booked meals; priority check-in) ✓ Quick turn-around time ✓ Customer throwing garbage in bins, … ✓ Ticket sales ✓ Sales of merchandise ✓ Intuitive apps ✓ Corporate tie- ups
  47. 47. Cracking the low-cost code www.PavanSoni.com 47
  48. 48. Ways of making competition irrelevant! A more personalized product or service A close-loop process Asset sharing Usage-based pricing A more collaborative ecosystem An agile and adaptive organization www.PavanSoni.com 48
  49. 49. Leveraging technology to disrupt markets www.PavanSoni.com 49
  50. 50. Types of Product Pricing Strategies 50
  51. 51. 1. Asset sale www.PavanSoni.com 51
  52. 52. 2. Usage based fee www.PavanSoni.com 52
  53. 53. 3. Subscription pricing www.PavanSoni.com 53
  54. 54. 4. Leasing/ Renting www.PavanSoni.com 54
  55. 55. 5. Licensing fee www.PavanSoni.com 55
  56. 56. 6. Advertising fee www.PavanSoni.com 56
  57. 57. 7. Brokerage fee www.PavanSoni.com 57
  58. 58. 8. Freemium model www.PavanSoni.com 58
  59. 59. 9. Affiliate model www.PavanSoni.com 59
  60. 60. 10. Razor Blade Model www.PavanSoni.com 60
  61. 61. 11. Surge pricing (dynamic pricing) www.PavanSoni.com 61
  62. 62. 12. Success-based fee www.PavanSoni.com 62
  63. 63. 13. Per-module fee www.PavanSoni.com 63
  64. 64. What pricing model suits you the best? 64 1. Asset sales 2. Usage-based 3. Subscription 4. Renting/ Leasing 5. Licensing 6. Advertising 7. Brokerage 8. Freemium 9. Affiliate 10. Razor Blade 11. Surge pricing 12. Success-based 13. Per-module
  65. 65. Anatomy of Freemium Model www.PavanSoni.com 65
  66. 66. Creating new customer segments and channels 66
  67. 67. Go beyond and deep! www.PavanSoni.com 67
  68. 68. Frugal innovations for India www.PavanSoni.com 68 Philips ClearVue 350 Ultrasound Machine GE Healthcare MAC 800 (Portable) Godrej chotuKool fridge
  69. 69. Look across the value chain www.PavanSoni.com 69 Pre-purchase Purchase Usage Dispose Value for money Risk reduction Convenience
  70. 70. Maruti Suzuki value chain 6/8/2018 Pavan Soni | www.PavanSoni.com | 70 Moment of Truth Analysis
  71. 71. Look at the non-customers Soon to be non- customers Refusing non-customers Unexplored non- customers
  72. 72. www.PavanSoni.com 72 Extreme Design Extreme environment Extreme Customers Look for the extremes
  73. 73. Look at analogies www.PavanSoni.com 73
  74. 74. www.PavanSoni.com 74
  75. 75. Creating winning value propositions 75
  76. 76. Value Proposition Canvas www.PavanSoni.com 76
  77. 77. A value proposition is not same as the product! www.PavanSoni.com 77
  78. 78. How different can a MRI scanner be? www.PavanSoni.com 78
  79. 79. www.PavanSoni.com 79
  80. 80. www.PavanSoni.com 80 I told Philips, ‘Listen, I need so many hours of light in my premises every year. If you think you need a lamp, or electricity, or whatever – that’s fine. But I want nothing to do with it. I’m not interested in the product, just the performance. I want to buy light, and nothing else.’ Philips’ ‘product-as-a- service’ business model
  81. 81. From products to platforms 81
  82. 82. The power of platforms www.PavanSoni.com 82
  83. 83. What do leaders say? www.PavanSoni.com 83
  84. 84. Platforms are in, incumbents are striking back! www.PavanSoni.com 84 IBM C-Suite Survey, 2017 (12,854 respondents)
  85. 85. www.PavanSoni.com 85
  86. 86. www.PavanSoni.com 86
  87. 87. www.PavanSoni.com 87
  88. 88. www.PavanSoni.com 88 Demand Side Supply Side Free Free Free Paying Paying Free Paying Paying Externalities Positive Negative The mechanics of Double-Sided platforms
  89. 89. www.PavanSoni.com 89
  90. 90. Agenda Primer on Creativity for Businesses Key components of Business Models Comparative Analysis for Business Models Types of Product Pricing Strategies Creating New Customer Segments and Channels Creating Winning Value Propositions www.PavanSoni.com 90

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