bep class session3
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BUSINESS
ENTREPRENEURSHIP
CLASS
LECTURE SLIDES
FALL 2013
ERDEM OVACIK
Erdem Ovacik – Business Entrepreneurship Project – Fall 2013 2
BUSINESS MODEL GENERATION – THE CANVAS
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THE ‘LEAN’ CANVAS
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WHO ARE OUR MOST IMPORTANT CUSTOMERS?
Two sided:2 or more interdependent customersEx: Credit Card holders & merchants
Diversified:Unrelated groupsEx: Amazon
Niche:Specific specialized segmentsEx: car part manufacturers
Segmented:Slightly different problemsEx: Credit Suisse Retail Banking
Mass:One broad groupEx: Milk
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WHAT VALUE DO WE PROPOSE?
New Service Cell phones, ethical investment funds.
Performance PC market, light bulbs, energy efficient equipment
Customization Threadless, car market, MYC4
Payment per use RollsRoyce engines, subscription software
Design Swatch, Mini
Brand / Status Rolex, Bentley, Louis Vuitton
Price Ryanair, free email
Cost reduction Salesforce software on the cloud
Risk reduction IT service level guarantees, car 1-yr service guarantee
Accessibility 7Eleven in Denmark, NetJets
Convenience / Usability iPod, Google Search & Mail
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WHICH CHANNELS BEST SUITED TO REACH CUSTOMERS?
Own Channel
Partner Channel
Direct Indirect
Sales force
Web sales
Own stores
Partner stores
Wholesaler
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Awareness
Evaluation Purchase Delivery After
sales
CHANNEL DEVELOPMENT STAGES
Developing channels takes time!
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WHAT KIND OF RELATIONSHIPS WITH CUSTOMER ARE MOST VIABLE?
Personal assistance(dedicated vs not-)
Self- service
Automated services (stimulates personal care)
Communities / co-creation(peer reviews, peer-recommendation)
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HOW MUCH AND HOW ARE YOUR CUSTOMERS GOING TO PAY?
Asset sale Subscription
Pay for use
Licensing Advertising
Rent / lease / lend Brokerage
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PRICING STRATEGIES
Fixed Menu Pricing
(prices pre-defined based on certain
variables)
Dynamic Pricing(price based on market
conditions)
• List price
• Product/feature dependent (upgrade for new features)
• Customer segment dependent (price discrimination)
• Volume dependent (get 3 for 2)
• Negotiation
• Yield management (plane seats, hotel booking)
• Real time market (Commodity markets)
• Auctions (Google and Facebook Ads)
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KEY RESOURCES
Physical Assets
Intellectual asset, copyright, code, knowledge
Relationships, Trust, Brand recognition
The team with their skills and motivations
Petty cash
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KEY ACTIVITIES
Production.
Value: quality, flexibility, lean (not wasteful), just in time
Problem solving.
Value: knowledge management, continuous training
Platform.
Value: Match demand & supply, security, performance
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KEY PARTNERSHIPS
Strategic Alliance non-competitors
Coopetition alliance betw. competitors
Joint ventures develop new biz
Buyer / supplier reliable sales / supplies
TYPES
WHY Acquisition of particular resources or activities (ie, google motorola)
Optimization and economies of scale (Starbucks buys coffee)
Reduction of risk and uncertainty (Touch screen manufacturer)
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COST STRUCTURE
Cost-driven versus Value-driven business: different sensitivity around cost
vs
Fixed costs Variable costsEconomies of scale
Economies of scope
Office, factory Labor, energy Bulk purchase is cheaper
Important concepts:
Synergies between business lines
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UNTIL END OF SUNDAY
1. Your business canvas – use the lean canvas
a. Conduct research for each field
b. Write down your thoughts for each of the field / boxes in a vertical text
c. Then make the summary of your thoughts on a PowerPoint
2. Read Effectuation Ch 4, 11 and 12
Erdem Ovacik – Business Entrepreneurship Project – Fall 2013
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