Evaluate the Business Model - Interactive Tool

Homeostatic vectors (or homeostatic mechanisms) represent a common challenge for internal stakeholders championing business model innovation. The purpose of the former often supersedes and contradicts that intention of the latter. Homeostatic vectors are all about achieving and maintaining stability whereas business model innovation often requires change and embracing a path that often leads through instability.

Examples of homeostatic vectors:

Resistance
Comfort zones
Challenges to the arguments for change
Distress
Low prioritization (for change) or high prioritization (for stability)
Complacency
Risk aversion
Politics
Triangulation

These vectors can be both active or passive with the latter often being the result of the following:

Poor planning
Low consultation
Low quality business case
Inadequate requirements gathering
Poor strategy-to-business culture fit
Inadequate communication (and sharing of information)
Inadequate leadership (to influence engagement, commitment, and change at all levels)

Change management tools are often the ‘go to’ for driving incremental adjustments in value across the business’ ecosystem. Unfortunately many of these tools will find their performance lacking if:

The foundation to start the change does not exist,
The resources and commitment from all levels to champion the change does not exist, and/or
The business case for sustaining the change does not exist

Business Model Evaluation: An Introduction

Business Model Evaluation Tool

Business model innovation is not as simple as ‘building the foundation and creativity will come.’ Creativity within the business sector is an agile and ever-changing construct that requires fuel and commitment in order for it to produce continuing value. Innovation is more than just rehearsing or championing old ideas that have already received applause but not the resources to move forward.

Business Model Innovation is about engaging the new frontier of ideas and technology as new opportunities, customer problems, and:

Readjusting what ‘business as usual’ looks like
Readjusting how strategy, processes, and resources are allocated
Readjusting how the business model components collaborate, cooperate, or compete to generate added value
Readjusting how learning is generated and shared across business model units, incorporated into best practices, and leveraged to disrupt the market………and
Readjust how barriers, conflict, and risk are engaged

Business Model: Drag & Drop Interactive Tool

With the following task you have the opportunity to use your memory to identify the components of the Business Model proposed by Alexander Osterwalder. Drag the images corresponding to components included in the business model to the center box.

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Drag & Drop the Business Model Components in the order Presented Here (L to R)

With the next task you have an opportunity to order the business model components as they were explained in the presentation above. Beginning from the top left of the model and working your way Left to Right, drag and order the components in the order depicted in the Business Model framework. Although no component is considered more important than the others this task will help you memorize the key components needed to build out a successful business model.

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Evaluating Your Business Model: True & False Quiz

The following task involves using the information you just learned to evaluate the strength of your Business Model. This exercise is intended to help you identify areas to improve.

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Asking the Right Questions: Business Model Development

This next task is a bit more challenging but also pulls information directly from the Business Model framework reviewed in the presentation above. Each card proposes a question regarding each of the business model components. Remembering what each component accomplishes will also help you remember what questions are asked when seeking to strengthen that area.

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Strengthening Your Business Model – Interactive Tool

During the next exercise your team has the opportunity to develop a strategic road map to strengthen the business model. Answer each question carefully. Once you are done you can print out an editable copy of your plan.

Planning Tool

Solutions can be done-to the problem or they can be done-with the problem. With a little creativity each business has the potential to leverage existing stakeholder visions and dreams for the business. The next step is to insure that a business model-to-strategy fit exists. Without it the homeostatic mechanisms that reinforced the previous challenges will likely reassert themselves.

The question is not who broke it but why is it broken and is it being reinforced?

How is your team supporting business model innovation? Fixing ‘broken things’?

Business Model Feedback Questionnaire

Questionnaire

Next Steps

The following accordion outlines the first 4 steps of the strategic plan generator. Step 4 includes additional steps to build out your strategic innovation plan. Click on each step below to expand and learn more about each section.

Step 1: Evaluate Your Business Model Components

Beginning with this specific business model area start to review what components are needed to be successful. Think of your business’ competitors in the area (local, national, or international).

How does your Business Model compare to competitors for customer satisfaction? How does it compare for employee retention? How does it compare for industry leadership, flexibility, and ability to support Innovation?

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Step 2: Review and Decide What Business Model Tools to Explore

You need to choose the right tool to strengthen your business model. Consider the strengths and weaknesses of your business. You may find that some tools are more useful than others for strengthening your business model.

Begin by exploring the individual tools available to discover what you can do to strengthen your Business Model components.

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Step 3: Strengthen and Build Your Key Business Model Areas

This is where collaboration, teamwork, and your leadership come in. Begin to fill out the interactive on page Business Model tool. Identify business strengths and areas for improvement in each business area. Print out & save a copy for your records.

Use these to facilitate leadership discussions when drafting your business plan & strategies (next step). Go back to other areas once your done.

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Strengthen and Build Your Key Business Model Areas

Step 4: Plan – Leverage Your Business Model to Support Business Innovation

This is the final stage where you will apply what you learned in previous steps. Leverage your new Business Model components to support your strategic plan! Identify business strengths and areas for improvement in each business area.

Print out & save a copy for your records. Begin to fill out the interactive on page business planning tool. Go back to previous steps if you discovered other business model tools or areas that need improvement.

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