Emerging Business Models
The module introduces you to the concept and process of business model innovation and exposes you to the principles of emerging business models that are disrupting industries worldwide, e.g. the sharing economy, the circular economy and the performance economy. A focus on 'value' both non-monetised and how business can create, and deliver it. The cohort will get the opportunity to validate their business model ideas with real world assignments.
Internationalisation: the module will draw on recent scholarship in the areas of strategy and innovation and showcase case studies based on a variety of national contexts.
Sustainability: the module will investigate how emerging business models tend to produce more sustainable outcomes
External Engagement: external speakers will be sourced from previous iterations, in particular from a variety of organisations that have innovated through their business model, e.g. M&S and Accenture ADP.
Employability: the module will offer an opportunity to acquire knowledge and develop analytical and lateral thinking skills for those pursuing careers in business strategy, planning, innovation management, research & development.
Research in Teaching and Enquiring: The module builds on recent literature surrounding changing economic models such as circular economy, sharing economy and business model innovation.
Full module specification
|Module title:||Emerging Business Models|
|Duration of module:||
Duration (weeks) - term 1: |
4 days + 6 weeks study
This module has two main aims, (1) to introduce you to the concept and process of business model innovation and (2) to help you identify emerging models that provide organisations with opportunities to reconsider their business model while improving their appeal and effectiveness.
Module aims: by the end of the module you will be able to:
- Understand what a business model is, and its components
- Appreciate the ways in which the business model can be a source of innovation
- Apply frameworks such as the business model canvas and value proposition canvas to analyse and critique the business model of an organisation
- Appreciate how emerging business models can be a source of disruption
- Identify how enabling technologies can be a source of new business models
- Consider how emerging business models can be guided to create positive impact, directly and systemically
- Appreciate the characteristics of emerging models such as the sharing economy, the circular economy and the performance economy and their potential to disrupt firms and industries
ILO: Module-specific skills
- 1. explain the process of business model innovation
- 2. identify how the cycles of culture, innovation and economics' affect business
- 3. analyse and critically evaluate business models using established frameworks
- 4. evaluate alternative business models and their potential for disruption
- 5. evaluate emerging technologies and social trends that are having an impact on organisations
- 6. identify solutions using emerging models
ILO: Discipline-specific skills
- 7. critically evaluate alternative scenarios in the context of business discipline
- 8. utilise social media platforms such as Facebook, Twitter and LinkedIn to engage with stakeholders, and test and validate business proposed business ideas
- 9. critically reflect on business as usual and emerging solutions
ILO: Personal and key skills
- 10. demonstrate the capacity for analytical and reasoned discussion
- 11. demonstrate effective independent study skills
- 12. demonstrate effective written communication skills
Learning activities and teaching methods (given in hours of study time)
|Scheduled Learning and Teaching Activities||Guided independent study||Placement / study abroad|
Details of learning activities and teaching methods
|Category||Hours of study time||Description|
|Scheduled Learning & Teaching activities||28||Lectures, Interactive workshops|
|Guided independent study||72||Reading, personal research exercise, writing|
|Form of assessment||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Reinventing your business model presentation||10 minutes||3, 4, 10, 12||Oral feedback|
Summative assessment (% of credit)
|Coursework||Written exams||Practical exams|
Details of summative assessment
|Form of assessment||% of credit||Size of the assessment (eg length / duration)||ILOs assessed||Feedback method|
|Group assignment (5/6 group members)||70||Business Plan 5000 words||All||Written feedback|
|Individual Reflexive Journal||30||Written assignment 2000 words (presented in two 1000 word chapters)||All|
Details of re-assessment (where required by referral or deferral)
|Original form of assessment||Form of re-assessment||ILOs re-assessed||Timescale for re-assessment|
|Individual assignment||Individual assignment 3000 words||All||6 weeks from briefing|
- Introductions – what is a business model?
- The importance of understanding 'Value'
- Making money and doing good: social entrepreneurship@ the rise of B-corp and social investment
- Business model innovation and the business model canvas: principles and applications
- Reinvent your business model
- The “sharing economy” – principles and potential for disruption: a morning session exploring the various models of the sharing economy and comparing these to businesses taking advantage of collaborative consumption. Includes a discussion around the notion of shared value and co-competition
- Opportunities from the “crowd”: crowdfunding, crowdsourcing, open data
- The Design of Everything: Designing for value creation, capture and delivery
- Benefiting from the circular economy: framework and applications: A morning session exploring the business model of the circular economy. Covering the performance economy, the inner loops of repair and remanufacturing. Also the design innovation drivers of Biomimicry and Cradle to Cradle.
- Presentations: reinventing your business model
Indicative learning resources - Basic reading
Osterwalder A, Pigneur Y (2010) Business Model Generation, Wiley & Sons
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