Business Model Innovation from Coursera

Innovation goes beyond technology, products and processes. The new competitive landscape requires another, more holistic and strategic perspective, based on the concept of business models.

This course gives you access to the Odyssey 3.14 approach, a pioneering framework that will help you invent or reinvent business models.

This highly innovative approach has been developed by Laurence Lehmann-Ortega and Hélène Musikas and has proven to be a very valuable methodology for start-up entrepreneurs, business unit managers and intrapreneurs alike. It offers a practical and highly effective framework and toolbox to create, invent or reinvent business models in a very disciplined way.

The approach starts with a deep dive into the 3 pillars of the business model:

- The value proposition (who are our customers and what are we offering them?)

- The value architecture (how are we organized in order to deliver this value proposition to our customers in due time)

- The profit equation (how the alignment between the first 2 pillars generates a profit)

14 directions are then explored in order to invent or reinvent a business model. Examples of the directions include “reducing clients overall costs”, “modifying the revenue stream”, “introducing a third party”, “eliminating a step in the value chain”, and “exploring new resources”. Illustrated by numerous examples, both iconic (Ikea, Tetra Pack, Grameen Bank…) and more recent (Airbnb, Zopa, Drive Now…), these directions stimulate your creativity to rigorously explore all possible innovation paths. Innovation becomes an adventure, an odyssey… hence the name of the approach!

Odyssey 3.14 is the result of over 15 years of research, consulting and teaching. Over 150 companies that have successfully invented or reinvented their business model have been thoroughly analyzed and will inspire you to develop your own new, innovative business model.

This course is a part of the MSIE program at HEC. If you liked it, do not hesitate to consult the other courses of the program.

What's inside

Syllabus

MODULE 1: INTRODUCTION TO BUSINESS MODEL INNOVATION

Welcome to the business model innovation journey! The aim of this introductory module is to familiarize you with innovation and business models and how they relate to the strategy of your company. We will focus on different business models and business model frameworks. This module will also give you an overview of the course and of your assignments.

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what should give you pause

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Develops a deep understanding of business model innovation and its importance in today's competitive landscape

Taught by industry experts Laurence Lehmann-Ortega and Hélène Musikas, who have over 15 years of experience in business model innovation

Provides a practical and highly effective framework to create, invent, or reinvent business models

Grounded in real-life examples of successful business model innovations from iconic and recent companies

Requires prior knowledge of business models and innovation principles

Involves a hands-on project that requires creativity and critical thinking to apply the framework to a real-world business model

Reviews summary

Practical business model framework

According to learners, this course by HEC Paris provides a largely positive introduction to business model innovation, primarily focusing on the Odyssey 3.14 framework. Many students found the framework to be a structured and practical approach for inventing and reinventing business models. The course includes relevant examples that effectively illustrate the concepts. The final assignment is highlighted as a valuable opportunity to apply the learned material. However, a recurring point of feedback is the inconsistent quality of the peer review process, which some found unhelpful. While many found the content clear, some noted that the presentation could be dry at times or wished for more advanced depth, suggesting it's particularly good for beginners.

Generally clear, but some found parts dry.

"The instructors are knowledgeable and present the material clearly."

"The videos are clear."

"The presentation was a bit dry at times."

"Some parts felt a bit repetitive."

Good introduction, but some desire more.

"Good for beginners, maybe less so for experienced professionals."

"Wish there was more depth on implementation."

"Good overview of business model innovation."

"Lacked practical depth."

Concepts are well-illustrated with examples.

"Lots of relevant examples."

"The examples brought the concepts to life."

"Highly practical for generating new ideas."

"The final project was helpful."

"The final assignment was a great way to apply learning."

Provides a structured approach to innovation.

"The Odyssey 3.14 framework is very practical and well-explained."

"The 14 directions provide a structured way to think."

"The Odyssey framework is powerful."

"A valuable course for anyone looking to understand business model innovation. The Odyssey 3.14 framework is a good tool."

Inconsistent quality and feedback issues reported.

"Peer review process was inconsistent and not always helpful."

"Peer review feedback was low quality in many cases."

"Peer review was hit or miss."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Business Model Innovation with these activities:

Compile a notebook of notes, assignments, quizzes, and exams

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Provides a valuable resource for reviewing course material and preparing for assessments.

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Create a notebook or folder for your course materials.
Collect all of your notes, assignments, quizzes, and exams.
Organize the materials in a logical order.
Review the materials regularly.

Watch online tutorials on business model innovation

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Provides a convenient and accessible way to learn about business model innovation.

Browse courses on Business Model Innovation

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Find online tutorials on business model innovation.
Watch the tutorials and take notes on key concepts.
Apply the concepts you learn to your own business or career.

Read "Business Model Generation"

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Provides a practical and highly effective framework and toolbox to create, invent or reinvent business models in a very disciplined way.

View The Invincible Company: How to Constantly... on Amazon

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Read the book thoroughly.
Take notes on key concepts.
Discuss the book with classmates or colleagues.

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Discuss the Odyssey 3.14 approach with classmates

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Provides an opportunity to share your understanding of the Odyssey 3.14 approach and learn from others.

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Meet with classmates to discuss the Odyssey 3.14 approach.
Share your understanding of the approach.
Listen to the perspectives of your classmates.
Ask questions and clarify any points of confusion.

Develop a business model canvas for a new product or service

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Helps you apply the Odyssey 3.14 approach to a real-world business scenario.

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Develop a profit equation that shows how you will generate revenue and profit.
Brainstorm ideas for a new product or service.
Define the target market for your product or service.
Develop a value proposition that articulates the benefits of your product or service.
Design the value architecture that describes how you will deliver your product or service.

Solve business model innovation case studies

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Provides an opportunity to apply the Odyssey 3.14 approach to real-world business scenarios.

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Find business model innovation case studies online or in textbooks.
Read the case studies and identify the key challenges and opportunities.
Develop solutions to the challenges and opportunities using the Odyssey 3.14 approach.

Find a mentor who can provide guidance on business model innovation

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Provides an opportunity to connect with someone who has experience and expertise in business model innovation.

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Identify potential mentors who have experience in business model innovation.
Contact the potential mentors and ask if they would be willing to mentor you.
Meet with your mentor regularly to discuss your progress.
Learn from your mentor's experience and advice.

Volunteer with a local business that is working on business model innovation

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Provides an opportunity to gain practical experience with business model innovation.

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Find a local business that is working on business model innovation.
Contact the business and offer to volunteer your time.
Help the business with its business model innovation initiatives.
Learn from the business's experiences with business model innovation.

Career center

Learners who complete Business Model Innovation will develop knowledge and skills that may be useful to these careers:

Innovation Manager

Innovation Managers are responsible for leading and managing innovation initiatives within organizations. The Business Model Innovation course can be useful for Innovation Managers as it provides a framework for developing and implementing innovative business models. This framework can help Innovation Managers identify opportunities for innovation and create business models that are sustainable and profitable.

See salaries and explore the career path for Innovation Manager

Entrepreneur

Entrepreneurs are individuals who start their own businesses. The Business Model Innovation course can be useful for Entrepreneurs as it provides a framework for developing and launching new businesses. This framework can help Entrepreneurs identify opportunities for innovation and create business models that are sustainable and profitable.

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Innovation Specialist

Innovation Specialists help organizations create and implement innovative solutions. The Business Model Innovation course can provide Innovation Specialists with a framework for understanding and analyzing business models. This framework can be used to help develop innovative solutions that are aligned with the organization's business model.

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Product Manager

Product Managers are responsible for developing and launching new products and services. The Business Model Innovation course can be useful for Product Managers as it provides a framework for understanding and analyzing business models. This framework can be used to help develop products and services that are innovative and meet the needs of customers.

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Venture Capitalist

Venture Capitalists invest in early-stage businesses with high growth potential. The Business Model Innovation course can be useful for Venture Capitalists as it provides a framework for understanding and analyzing business models. This framework can be used to help identify investment opportunities.

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Strategy Consultant

Strategy Consultants help organizations develop and implement strategies for growth. The Business Model Innovation course can be useful for Strategy Consultants as it provides a framework for understanding and analyzing business models. This framework can be used to help clients identify opportunities for innovation and growth.

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Business Consultant

Business Consultants help organizations improve their performance by providing objective advice and recommendations. The Business Model Innovation course can be useful for Business Consultants as it provides a framework for understanding and analyzing business models. This framework can be used to help clients identify opportunities for innovation and growth.

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Management Consultant

Management Consultants help organizations improve their performance by providing objective advice and recommendations. The Business Model Innovation course can be useful for Management Consultants as it provides a framework for understanding and analyzing business models. This framework can be used to help clients identify opportunities for innovation and growth.

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Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns for products and services. The Business Model Innovation course can be useful for Marketing Managers as it provides a framework for understanding and analyzing business models. This framework can be used to help develop marketing campaigns that are targeted and effective.

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Sales Manager

Sales Managers are responsible for leading and managing sales teams. The Business Model Innovation course can be useful for Sales Managers as it provides a framework for understanding and analyzing business models. This framework can be used to help develop sales strategies that are aligned with the organization's business model.

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Technology Manager

Technology Managers are responsible for leading and managing technology initiatives within organizations. The Business Model Innovation course can be useful for Technology Managers as it provides a framework for understanding and analyzing business models. This framework can be used to help develop technology strategies that are aligned with the organization's business model.

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Business Development Manager

Business Development Managers are responsible for developing and executing business development strategies. The Business Model Innovation course can be useful for Business Development Managers as it provides a framework for understanding and analyzing business models. This framework can be used to help develop business development strategies that are aligned with the organization's business model.

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Project Manager

Project Managers are responsible for planning, executing, and controlling projects. The Business Model Innovation course can be useful for Project Managers as it provides a framework for understanding and analyzing business models. This framework can be used to help develop project plans that are aligned with the organization's business model.

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Financial Analyst

Financial Analysts provide advice and recommendations to businesses and investors on financial matters. The Business Model Innovation course can be useful for Financial Analysts as it provides a framework for understanding and analyzing business models. This framework can be used to help clients make informed investment decisions.

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Researcher

Researchers conduct research to advance knowledge. The Business Model Innovation course may be useful for Researchers as it provides a framework for understanding and analyzing business models. This framework can be used to help develop research questions and design research studies.

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