Developing Novel Business Models

This course aims to provide students an in-depth understanding of the practical challenges of developing novel business models. During the course, the students will deal with the generation and identification of promising entrepreneurial opportunities as well as the systematic evaluation of business concepts. Furthermore, the course provides content on the lean startup methodology and addresses the required skills to pitch an initial business model. Students will apply and gain experience with practical tools for business model development by executing several assignments. In the end, students will present their novel business model in front of a jury of professional experts.

Applied theories and methods
Creativity methods and tools
Business idea pitching and business pitch videos
Evaluation methods and tools
Business Model Canvas method
Lean startup approach

Module 1: Fundamentals of Business Models and Introduction to Group Assignments (September 3, 08:00 am – 11:15 am) In this first module, we discuss the fundamentals of business model development and introduce the group assignments. Several case examples will be provided to illustrate the nature and content of the different assignments.Reading material:- Teece, D.J. (2010) Business Models, Business Strategy and Innovation. Long Range Planning, 43: 172-194.- Chesbrough, H. (2010) Business Model Innovation: Opportunities and barriers. Long Range Planning, 43: 354-363.Module 2: Identifying painpoints and formulating value proposition(September 10, 08:00 am – 11:15 pm)In this workshop, students will be challenged to identify and develop a particular customer painpoint.Reading material:- Osterwalder, A. and Y. Pigneur. 2010: Subsection on Customer Insight (pp 126-133).Module 3: Developing the Business Model Canvas(September 17, 8:00 am – 11:15 am)In this module, we discuss the different aspects of the business canvas model and resulting business model patterns. During this module, students will be challenged to apply the provided insights, developing a first business model for their own group assignment.Reading material:- - Eisenmann, T., Parker, G., and Van Alstyne, M.W. (2006) Strategies for two-sided markets, October 2006.- Osterwalder, A. and Y. Pigneur. 2010: Section on Canvas (pp 10-51) and section on Patterns (pp 52-121)Module 4: Development and Testing Hypotheses and Introduction to Pitching (September 23, 8:00 am – 11:15 am)In this module, we look into the lean startup approach and evidence based entrepreneurship. We provide an overview of best practices in pitching a new business models. Students will actively apply these insights and start developing a pitch for their own business model.Reading Material:- Steve Blank. 2013. Why the Lean Start-Up Changes Everything. Harvard Business Review, May. - Eisenmann, T. R., Ries, E., & Dillard, S. 2012. Hypothesis-driven entrepreneurship: The lean startup. (Harvard Business School 9-812-095)- Osterwalder, A. and Y. Pigneur (2010) Subsection on Sorytelling (pp 170-179Module 5: Exercising Pitch(October 8, 8:00 am – 11:15 am)In this session, each group will individually conduct a pitch of their business model in front of a mock jury. Each group will get extensive feedback to prepare for the final pitch.Module 6: Pitching Business Model(October 15, 3:30 pm – 6.45 pm)In this module, all groups will conduct an in-class pitch of their business model in front of a professional jury.

The course consists of six modules. The first module provides a general introduction. The subsequent modules consist of in-class workshops, where students will work on particular aspects of the group assignments.

Group assignments and individual assignment

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