BMI Applied - Challenge & Change

In this week’s video, Business Model Innovation Guest Speaker Andrew McCormick-Smith will talk about the “Challenge & Change” iteration and will show you how his team has developed their business model. He will also look at the opportunities of and threats to their business model and derive a suitable challenge for his team’s ideation.

To solve their challenge, Andrew uses the University of St. Gallen (HSG) pattern cards. These cards are based on a business model analysis of the general world market. Andrew then elaborates on certain pattern cards that his project team found appealing. Because you – in your group exercise - will focus on the digital economy and its digital business models, you will use the Digital Business Model Concept cards instead. The cards’ purpose remains the same: You will learn from business model pioneers and transfer essential aspects to your canvas.

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