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.

MODULE 2: THE 3 COMPONENTS OF A BUSINESS MODEL

In this module, we will dive deeper into the Odyssey 3.14 approach and framework, by exploring in detail the 3 components of the business model. 1) The value proposition, which defines your offer and how it is perceived by customers 2) The value architecture, which defines the way your company is organized to deliver your offer 3) The profit equation, which enables you to measure the efficiency of your business model and the relation between the value proposition and value architecture. Thinking deeply about these 3 components and seeing them through new lenses will help you find innovative solutions to create a more effective business model.

MODULE 3: 7 DIRECTIONS FOR THE VALUE PROPOSITION

This module explores the 7 directions on the value proposition side of the business model. These are the first 7 directions in the Odyssey 3.14 framework. They include: 1) Modifying the revenue stream, that is, how charging a customer can radically change the value proposition, 2) Looking at non-customers, since this group offers many growth opportunities 3) Introducing a third party, which explains the power of platform business models. Each direction will be illustrated by real life examples.

MODULE 4: 7 DIRECTIONS FOR THE VALUE ARCHITECTURE

This module explores the 7 directions on the value architecture side of the business model. These are the last 7 directions in the Odyssey 3.14 framework. They include: 1) Eliminating or adding a step in the value chain, that can for example lead to a circular economy, 2) Finding new resources in the crowd, which explains how to leverage the billion individuals connected to the internet, 3) Leveraging resources and competencies, which demonstrates how an alternative way of looking at existing resources and competencies can radically modify the business model. Each direction will be illustrated by real life examples.

MODULE 5: IT'S YOUR TURN TO APPLY THE ODYSSEY 3.14 APPROACH!

During this module, you will have to imagine a new, innovative business model by applying the Odyssey 3.14 framework. Creativity is key, both in coming up with the new business model and in your presentation to your peer participants!

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

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

Comprehensive business model innovation course

Based on 130 reviews, learners say this course is well-received. It provides a structured framework known as Odyssey 3.14 for evaluating and creating innovative business models. Students appreciate the practical nature of the course, with quizzes and assignments that help reinforce concepts. The course also features engaging videos and current case studies relevant to the topic.

The course provides in-depth and up-to-date knowledge on business model innovation with relevant examples and case studies.

"The content was presented in a clear, engaging manner, making complex concepts accessible."

"The emphasis on peer learning added a valuable dimension to the experience."

"This course allowed me to think more critically and technically about the science, technology, art and mathematics of business."

The course offers interactive quizzes and assignments that allow learners to apply the concepts to real-world scenarios.

"The practical exercises were particularly beneficial."

"They allowed me to apply the theory in real-world scenarios."

"The emphasis on peer learning added a valuable dimension to the experience."

The course has a clear structure and well-organized content with step-by-step guidance.

"A wonderful course in structure, format, delivery and application of methodology."

"It was one of the best courses I have ever had. It is different from all other courses about business modeling, and it is a practical method to innovate in your existing company or assess your idea for your new venture."

"The course was very informative and well-structured."

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.

Five other activities

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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

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.

See salaries and explore the career path for Innovation Specialist

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.

See salaries and explore the career path for Entrepreneur

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.

See salaries and explore the career path for Strategy Consultant

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.

See salaries and explore the career path for Product Manager

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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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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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.

See salaries and explore the career path for Sales Manager

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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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.

See salaries and explore the career path for Business Development Manager

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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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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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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