Lecture

Business Models: Understanding Value Creation

Graph Chat

Chat with Graph Search

Ask any question about EPFL courses, lectures, exercises, research, news, etc. or try the example questions below.

DISCLAIMER: The Graph Chatbot is not programmed to provide explicit or categorical answers to your questions. Rather, it transforms your questions into API requests that are distributed across the various IT services officially administered by EPFL. Its purpose is solely to collect and recommend relevant references to content that you can explore to help you answer your questions.

Description

This lecture delves into the concept of business models, focusing on how organizations create, deliver, and capture value. Students are encouraged to reflect on their own definition of a business model and learn the key components that drive successful business strategies.

In MOOC

IoT Systems and Industrial Applications with Design Thinking

Internet of Things (IoT) and smart connected devices have radically changed the way our world works and how companies operate and create new businesses. Do you want to learn about IoT fundamentals? This is a course for you! In this course we provide an overview of the underlaying IoT technologies and its business applications. This course is an introduction to IoT and explains why it is a continuously evolving concept with many industrial applications. You will learn the fundamental building blocks of IoT

Official source

Related concepts (11)

Value proposition

In marketing, a company’s value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers (i.e., a market segment) who will buy their products and/or services. It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in the market. A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services. Creating a value proposition is a part of the overall business strategy of a company.

Business model

A business model describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy. In theory and practice, the term business model is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture.

Organization

An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word organon, which means tool or instrument, musical instrument, and organ. There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc.

Value chain

A value chain is a progression of activities that a firm operating in a specific industry performs in order to deliver a valuable product (i.e., good and/or service) to the end customer. The concept comes through business management and was first described by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance. The idea of the value chain is based on the process view of organizations, the idea of seeing a manufacturing (or service) organization as a system, made up of subsystems each with inputs, transformation processes and outputs.

Business process modeling

Business process modeling (BPM) in business process management and systems engineering is the activity of representing processes of an enterprise, so that the current business processes may be analyzed, improved, and automated. BPM is typically performed by business analysts, who provide expertise in the modeling discipline; by subject matter experts, who have specialized knowledge of the processes being modeled; or more commonly by a team comprising both. Alternatively, the process model can be derived directly from events' logs using process mining tools.

Related lectures (38)

Business Model Innovation

Explores business model innovation, strategies, canvas models, and the relationship between strategy and business model.

Market Entry Strategy: Workshop

Delves into market entry strategy essentials, using examples and exercises to teach students how to position themselves effectively in the market.

Business Model Innovation: Nespresso

Explores the business model innovation of Nespresso, transitioning from coffee powder to capsules and direct selling.

Business Model Canvas: Workshop and Key Concepts

Covers the Business Model Canvas and its key elements for developing business models.

Value Proposition: Creation, Delivery, Capture