Business Model: Theory and Application

This lecture delves into the theory behind business models, exploring different types and how they create value for customers. The instructor discusses the importance of customer segmentation, suppliers, and revenue structures. The lecture also covers the concept of creating value for customers through products or services, using partnerships, and managing costs. Examples from various industries, such as energy and transportation, are used to illustrate different business models. Students are encouraged to think about their own business models, considering customer segments, value propositions, revenue streams, and cost structures. The lecture concludes with a discussion on social and environmental impacts of business models.