Business Model Innovation

This lecture covers the importance of business model innovation, emphasizing the need to connect technology to market through innovative business models. It discusses examples like Xerox, Better Place, and Ryanair, highlighting the difference between creating and reinventing customer value. The lecture explores strategies, such as Porter's generic strategies and Lafley & Martin's contemporary approach, to redefine winning aspirations and competitive advantages. It delves into the concept of business model canvas, lean canvas, and value proposition canvas, providing insights into reconfiguring business models and executing strategies. The instructor also addresses the relationship between strategy and business model, categorizing business model components, and the mission, vision, and business processes within an organization.