Business Model Innovation
Date: 16–18 January 2020
Managing risk: What CEOs and entrepreneurs often forget is that high profit opportunities usually comes with high risks. Your challenge is to go for the highest possible profit opportunity where you have the best chance of managing the risk.
You will learn a framework that will give you clarity about profit and risks, help you identify multiple options to exploit the opportunities increasing the odds of finding one with the least risk. Finally, the framework will clarify the tradeoffs that will discipline your execution and allow you to make necessary course corrections. We capture this framework as a set of three questions. Where to play, how to win and what to do.
Designing your business model: You will learn how to draw a COAR map that can visually communicate the key aspects of your business model. COAR maps have helped companies from Cisco Systems to Goodyear to deliver the following benefits.
- Disseminate and discuss the LOGIC of your business model in order to strengthen it
- Involve others in the process so individuals own it
- Simplify the profit logic so everyone can understand it
- Link the profit logic to goals/metrics so they will drive it
- Communicate the business model visually so people remember it
- Check Assumptions over time so people can correct it
Abstract thinking: The best CEOs are masters of abstract thinking, which allows them to visualize options that concrete thinkers will invariably miss. Some of the concepts that will help you with abstract thinking are ‘desired customer outcomes (not needs)’ that drives your ‘profit logic (not ROI or ROA).’ These abstract concepts are critical for you to have more options than your competitors have.` Creating options are a must to reduce risks in your business model.
Tolerance for ambiguity: Most of us want certainty in our lives and this often leads to fast decision making. This is exactly the opposite of the best CEOs thinking style. Amazon sold just books and CDs for five years even though it is obvious what he wanted to do in the end. Indigo airline followed Southwest Airline’s slow and disciplined approach and succeeded. Kingfisher Airline tried to be all things to all people overnight and went bankrupt much like Continental Airlines CalLite in the US (you will study both these cases). Clarity in your profit logic will give you the conviction to tolerate ambiquity.
Executives and managers who have direct or indirect responsibility for the formulation and/or implementation of strategies that affect their organization’s growth and market value. Functional managers from business development, marketing, operations, finance, human resources, or IT, or professionals moving into those roles.
Program Faculty Bio
Sayan Chatterjee, is Professor of Strategy at Weatherhead School of Management, Cleveland, OH. He is one of the nation’s foremost experts on competitive strategy, business model design and innovation. He is a Batten Fellow at Darden Business School. He has held appointments at Wharton and Darden Business Schools in the US and University of Mannheim amongst others worldwide. He has delivered executive education programs all over the world and consulted with many companies of all sizes. He is author of ‘Failsafe Strategies’ and numerous articles on strategy, business models and mergers and acquisitions. His concepts have been used in programs offered at Harvard and Stanford Business Schools to name a few.
16 – 18 January 2020
Rs. 75,000 + GST (As applicable)
Fees should be paid in cheque or demand draft and made payable to “FLAME University Pune” at Pune. Please write the applicant name and “Program Name” at the back of the demand draft/cheque.
Payment should be mailed to FLAME University, 401, Phoenix Complex, Bund Garden Road, Opp. Residency Club, Pune – 411001, Maharashtra, India.
Fee can also be paid through Electronic Fund Transfer. The details are:
- For credit to Savings Bank A/c No.062010210000010, Account name – FLAME UNIVERSITY PUNE, Bank of India, Lavale Branch, Pune (RTGS/IFSC Code:BKID0000620)
- Name of Remitter:_____________(Please mention the name of the sponsoring organization)
- Purpose of Remittance: Business Model Innovation
- FLAME University GST Number: 27AAATF2122L1ZW
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FLAME University, Pune
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Weatherhead School of Management, Case Western Reserve University