Reinventing Your Business Model - Johnson et al
9 important questions on Reinventing Your Business Model - Johnson et al
Why is it difficult to pull of the growth that business model innovation can bring?
- Lack of definition: Very little formal study has been done
- Few companies understand their existing business models well enough
What is the road map Johnson et al layed out for successful innovative business models?
- Think about the opportunity to satisfy a real customer that needs to get a job done
- Construct a blueprint laying out how your company will fulfill that need at a profit (value appreciation?)
- Compare that model with your existing to see how much you need to change to capture the opportunity
What is the definition of 'resource velocity'?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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What is meant by 'volume' in the 'revenue model' component?
What describes "job to be done" in the CVP component?
What is meant with "offering" in the CVP component?
What is the most important attribute of a customer value proposition?
Nailing what needs to be done to fulfill the need.
Most companies fail by focussing on too many components, rather that focussing on one job.
How does one ensure precision in the delivery of customer value?
- Skills barrier
- Access barrier
- Insufficient Wealth barrier
- Time barrier
What are the five strategic circumstances that often require business model change?
- If the opportunity arrises to address a large group of customers because they are shut out due to complicated or expensive existing solutions for their problems
- The opportunity to capatalize on a brand new technology by wrapping a new business model around it, or by leveraging a tested technology by bringing it to a whole new market
- The opportunity to bring a 'job to be done' focus where one does not yet exist. (fedEx/UPS example)
- The need to fend of low-end disrupters
- The need to respond to a shifting basis of competitors
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The question on the page originate from the summary of the following study material:
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- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
