irene ngalmaden2013
DESCRIPTION
digital business modelsTRANSCRIPT
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The University of Warwick
Facts and .................................
Established 1965
League table positions– Times and Sunday Times (2012) - 8th
– Guardian (2012 guide) – 6th – Independent (2012 guide) - 8th
– RAE 2008 – 7th overall – QS* World University Ranking (2011) – 50th – We aimed to be in the top 50 by 2015
International working– Formal working relationships with Boston
University, Monash University, IIT Kharagpur, Jawaharlal Nehru University and Nanyang Technological University
Figures Undergraduates 12,979 Postgraduates 10,441
International students6,411 International students 27% Total staff 4,912 Academic staff 687 International staff 25% Turnover £419m Campus size 292 hectares Academic departments 28 Research centres 48 Overseas alumni 44,194
* Quacquarelli Symonds Ltd
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WMG Research and Development Centres
International Manufacturing Centre
International Automotive Research Centre
International Digital Laboratory (IDL)
Engineering Management
Building
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New Centres
International Institute for Product and Service Innovation (IIPSI)
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4
Global Partners
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Product Life-Cycle Management
Experiential Engineering
Product Evaluation Technologies
Embedded Systems Simulation and Modelling
Robotics
Cloud Computing Security
Privacy Enhancing Technologies
Data Loss Monitoring
Vulnerability Research
Trust Management
Health Informatics
e-Health
Neural Engineering
Biomedical Engineering
Virtual Reality Medical Training
Visualisation
Digital Media
e-Business
Digital Manufacturing
Institute for e-Security
Institute of Digital Healthcare
Digital Technologies
International Digital Laboratory
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Irene C L NgProfessor of Marketing & Service Systems, WMG
Director, International Institute of Product & Service Innovation
International Institute of Product & Service Innovation (IIPSI)
[email protected]@ireneclng
http://uk.linkedin.com/in/ireneclng bit.ly/vcssblog
www.warwick.ac.uk/go/sswmg
www.ireneng.com
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International Institute of Product & Service Innovation (IIPSI)
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Cloud for Business
Smarter Social MediaData to Intelligence
Mobile for Business
Competitor
Analysis
Social Media
Analysis
Target Market
Analysis
Digital Software Innovation (tech demonstrators)
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Adding Functionality to Plastic Parts
Polymer Recycling
Low Volume Production
Polymer Innovation (sample tech demonstrators)
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Experience-led Innovation (sample tech demonstrators)
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
Customer Engagement
User Focussed Product/Service Design
Energy Usage Behaviour
Visitor Experience
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11
IIPSI Service Systems & Business+
• Technology disruptions cause challenges to existing business models (e.g. Kodak)
• Adaptability, transformation needed – both for their business models (the firm’s capability to serve the market) and their economic models (the way they derive their revenues and the market exchanges they participate in)
• Business+ research into value creating service systems, digitisation/virtualisation, service-dominant logic (e.g. Bombardier, Rolls Royce, GSK); also into pricing/revenue models, methodology for new transactions & markets
• Transdisciplinary team of social science, technology, business & engineering
• 4 RCUK/EPSRC DE projects, NEMODE virtual collaboration host
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IIPSI Marketspace
Startup space
SME space
Trade
pubs Academic pubs
Markets
Knowledge Transfer
& Tools Projects
IP Passing Model, demonstrators
Education
Pre-incubatin
g
12
4
35
6
18 19
13
14
Students
12
17
11
independence
InformScale
corporate space
7
funding8
Lower TRLs
Social Science
15
Mkt modularity
SME
Devt
IP Passing Model, demonstrators
9
11 primary knowledge flows, 8 secondary flows
Digital (software) innovation
Polymer Innovation
Experience-led
Innovation
Service Systems, New Econ/Biz models
Bootstrap
WMG Digital Innovation Eco System capability
Practice
Research
10
10
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Impact
• created 12 new high tech start‐up businesses,
• directly generated 70 new jobs, • trained over 450 small business in
a range of digital technologies over the last 4 years
• International publications, patents, tools etc.
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Irene C L NgProfessor of Marketing & Service Systems, WMG
Director, International Institute of Product & Service Innovation
New Economic and Business Models in the Digital EconomyOutcomes, Boundaries and Contexts
[email protected]@ireneclng
http://uk.linkedin.com/in/ireneclng bit.ly/vcssblog
www.warwick.ac.uk/go/sswmg
www.ireneng.com
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Value was exchange (what I got for what I gave)
$$$11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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But it wasn’t exchange that made us happy. It was experiencing what we bought that gave us the outcomes we wanted
We buy because of the service of the object, even if it was an emotional ‘service’ i.e. things are service avatars*
Mike Kuniavsky, 201011 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Ownership was the only way to get the ‘service’ of an object• Previously, the only route to
service/outcomes was through ownership e.g. music CDs
• But outcomes/benefits come only in the context of use and experience
• If firms found a way to serve contexts, individuals may not need to own
• Case study: Music11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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VALUE & WORTH
• BUT… we needed to BUY before experiencing – so industry focus is still on buy (WORTH) even while design focus is on experience (VALUE)
• Worth and Value is separated in time/space
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Something is happening……• Exchange used to be in further in advance• With digitisation and connectivity, exchange
can now be closer to contexts of use e.g. Music
• i.e. worth is getting closer to value creation• For offerings that could be digitised, collapse
of buy (potential) and use (kinetic) into the same time/space
• VALUE has become more relevant again in determining WORTH
• With some new business models, VALUE is increasingly determining WORTH (due to collapse of buy and experience time/space
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With digital connectivity, markets are now possible to be formed in context • Digitisation results in “digital
backwash” of the offering• Serving contexts increases worth!• New business and economic
models emerge• So how should we think about
value now in terms of how it might be related to worth and markets?
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Value+ and Service-dominant logic*
• value is the goodness we create out of the experience with something or someone in context, and that experience/interaction is the enactment of our social and cultural values
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
++ Ng and Smith (2012)*Vargo and Lusch (2004, 2008)
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Value is co-created for outcomes/benefits/value-in-use
CO-CREATEDVALUE that cd be
higher thanproposed
Propose
Enhance
Realise
Propose
Peace of mindEntertainment
Love
RESOURCES
RESOURCES????
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Value created is Contextual. Resources are therefore also Contextual.
This camera is available
so it is a resource in
context
This camera is not
Things become more valuable in context because they enable resources for value creation
VALUE IN CONTEXT
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Two functionally the SAME cameras but not the same value for the user in context. Because one camera is less competent in context, one is a
lesser service avatar (or is just simply not around!)
COMPETENCY OF OFFERING IN CONTEXT IS KEY TO NEW MARKETS
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Serving Contexts (the kinetic)• Current market platforms - tablets and
mobiles• More platforms for context-based
markets now need to be created e.g. Internet-of-Things at home, in buildings
• markets are now in the same space as creatives, sociologists, interactive designers - looking at contexts and lived lives
• For non-digital things, linking supply chains to home market platforms essential for new business models
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Once upon a time, our contexts were rather homogenous
• Where/when we ate meal• Where/when we listened to music• Where/when we exercised
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
• *Technology liberates us from constraints of– time, when things can be done– place, where things can be done– actor, who can do what– constellation, with whom it can be done
*Reframing Business, Normann, 2001
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Why is this important
• Future digital connectivity for innovation and new markets;
• Understanding how current things should evolve for connectivity (e.g. biopharmaceauticals) to serve us better – new business models, new econ models, exchange & new ways to serve
• Innovating offerings/service that is scalable and replicable in creating value in context
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Value created is Contextual. Resources are therefore also Contextual.
This camera is available
so it is a resource in
context
This camera is not
Things become more valuable in context because they enable resources for value creation
VALUE IN CONTEXT
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Two functionally the SAME cameras but not the same value for the user in context. Because one camera is less competent in context, one is a
lesser service avatar (or is just simply not around!)
COMPETENCY OF OFFERING IN CONTEXT IS KEY TO NEW MARKETS
Why context is important
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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But to bring your digitised offering (content) into context, you need a medium/platform (widget), connectivity, and a
social space E.g. of ‘service’ in context digitally through your mobile• Dictionary• Calculator• Calendar• Torchlight• Camera
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The New Battleground
CONTEXT
Content
Connectivity
SocialWidge
t
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Digitised offering in
contextOfferin
gResour
ceSolutio
nmarket
s
Who is digitising to serve use context next? Tea? ;)
• Digitisation enables traditional offerings to become a resource in context, reducing time between acquiring a resource and using a resource - expanding demand
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
In context
Digitisation+Data is the new oil, Context is the new
oil-field
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Mobile phone as the medium to propose digitised offerings in context• Why is the mobile phone one of
the most popular device for digitised offerings today?
• because it is often present in MANY lived experiences (contexts)
• It may not be the only widget in the future serving multiple contexts, but it is now
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Once upon a time, our contexts were rather homogenous
• Where/when we ate meals• Where/when we listened to music• Where/when we exercised
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
• *Technology liberates us from constraints of– time, when things can be done– place, where things can be done– actor, who can do what– constellation, with whom it can be done
*Reframing Business, Normann, 2001
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Markets are forming at where service creates most wealth – in context Digitisation allows
new offerings to be resources available,
accessible on demand, in contextThe better you are
able to serve context, the bigger
your market
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Competitive Dynamics
• Serving Contexts changes the nature of competition
• Land grab creates disruption, enabled by new technologies. How?
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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ContextEnjoying music on spotify and seeing other friends choices of music while in a gym
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BUSINESS MODEL VS ECONOMIC MODEL
11/04/2023
WMG 38
Value Creatio
n
Value
prop
Valu
e
cap
ture
EMI, Sony BMG
person
MUSIC
ENJOYING MUSICMoney fr access e.g.
spotifyMoney fr ownership (e.g.
CD)Money fr eyeballs (eg.
Google)
ECONOMIC MODEL- Where exchanges come from, what exchanges are there, creating worth from value creation
BUSINESS MODEL
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E.G. MUSIC - CONTENT
11/04/2023
WMG 39
Value Creatio
n
Value
prop
Valu
e
cap
ture
EMI, Sony BMG
person
MUSIC
ENJOYING MUSIC
Money fr access e.g. last.fm
Money fr ownership e.g. iTunes
Money fr medium (e.g. CD)
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E.G. MUSIC - WIDGET
11/04/2023 WMG 40
Value Creatio
n
Value
prop
Valu
e
cap
ture
Apple, MP3 player, Computer
person
WIDGET
ENJOYING MUSIC
Money fr ownership
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E.G. MUSIC - CONNECTIVITY
11/04/2023 WMG 41
Value Creatio
n
Value
prop
Valu
e
cap
ture
O2, Vodafone, Three, Orange
person
WIFI, 3G
ENJOYING MUSIC
Money fr access
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E.G. MUSIC - SOCIAL
11/04/2023 WMG 42
Value Creatio
n
Value
prop
Valu
e
cap
ture
Myspace, facebook, google+, twitter, spotify
person
Sharing platform
ENJOYING MUSIC
Money fr eyeballs (ads)
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E.G. MUSIC - GYM
11/04/2023 WMG 43
Value Creatio
n
Value
prop
Valu
e
cap
ture
GYMS
person
Sport & fitness environment
ENJOYING MUSIC & SPORT
Money fr access
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Industries propose value in context
11/04/2023 WMG 44
Value Creati
on
Value
prop
Valu
e
captu
re
Value Creati
on
Value
prop
Valu
e
captu
re
Value Creati
onValu
e
captu
re
Value Creati
on
Valu
e
captu
re
Value
prop
Value
prop
person
person
person
person
Valu
e
Cre
atio
n
Valu
e
pro
p
Value capture
GYMS
person
APPLE, CREATIVE (WIDGET)
SONY, EMI (CONTENT)
SKY, VIRGIN (CONNECTIVITY)FACEBOOK, MYSPACE
(SOCIAL)
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Value Constellation of Music in Context
11/04/2023 WMG 45
Value Creati
on
Value
prop
Valu
e
captu
re
Value Creati
on
Value
prop
Valu
e
captu
re
Value Creati
onValu
e
captu
re
Value Creati
on
Valu
e
captu
re
Value
prop
Value
prop
person
person
person
person
Valu
e
Cre
atio
n
Valu
e
pro
p
Value capture
GYMS
person
APPLE, CREATIVE (WIDGET)
SONY, EMI (CONTENT)
SKY, VIRGIN (CONNECTIVITY)FACEBOOK, MYSPACE
(SOCIAL)
Person enjoying music in context
Many persons enjoying music in
context
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Value Constellation of Music in Context
11/04/2023 WMG 46
Value
prop
Valu
e
captu
re
Value
prop
Valu
e
captu
re
Valu
e
captu
re Valu
e
captu
re
Value
prop
Value
prop
person
Valu
e
pro
p
Value capture
GYMS
APPLE, CREATIVE (WIDGET)
SONY, EMI (CONTENT)
SKY, VIRGIN (CONNECTIVITY)FACEBOOK, MYSPACE
(SOCIAL)
Person enjoying music in context
PIE
Many persons enjoying music in
context
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Value Constellation of Music in Context
11/04/2023 WMG 47
Value
prop
Valu
e
captu
re
Value
prop
Valu
e
captu
re
Valu
e
captu
re Valu
e
captu
re
Value
prop
Value
prop
person
Valu
e
pro
p
Value capture
GYMS
APPLE, CREATIVE (WIDGET)
SONY, EMI (CONTENT)
SKY, VIRGIN (CONNECTIVITY)FACEBOOK, MYSPACE
(SOCIAL)
Person enjoying music in context
PIE
• The Value constellation map shows you which industry has a stake in which OTHER industry to expand their market penetration, driving disruption, convergence, land grab
Many persons enjoying music in
context
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Value Constellation of Music in Context
11/04/2023 WMG 48
Value
prop
Valu
e
captu
re
Value
prop
Valu
e
captu
re
Valu
e
captu
re Valu
e
captu
re
Value
prop
Value
prop
person
Valu
e
pro
p
Value capture
GYMS
APPLE, CREATIVE (WIDGET)
SONY, EMI (CONTENT)
SKY, VIRGIN (CONNECTIVITY)FACEBOOK, MYSPACE
(SOCIAL)
Person enjoying music in context
PIE
Many persons enjoying music in
context
I want to play there because more content that I control will drive my connectivity
business
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Value Constellation of Music in Context
11/04/2023 WMG 49
Value
prop
Valu
e
captu
re
Value
prop
Valu
e
captu
re
Valu
e
captu
re Valu
e
captu
re
Value
prop
Value
prop
person
Valu
e
pro
p
Value capture
GYMS
APPLE, CREATIVE (WIDGET)
SONY, EMI (CONTENT)
SKY, VIRGIN (CONNECTIVITY)FACEBOOK, MYSPACE
(SOCIAL)
Person enjoying music in context
PIE
Many persons enjoying music in
contextI want to play there because widget that I control will secure my
connectivity business
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Value Constellation of Music in Context
11/04/2023 WMG 50
Value
prop
Valu
e
captu
re
Value
prop
Valu
e
captu
re
Valu
e
captu
re Valu
e
captu
re
Value
prop
Value
prop
person
Valu
e
pro
p
Value capture
GYMS
APPLE, CREATIVE (WIDGET)
SONY, EMI (CONTENT)
SKY, VIRGIN (CONNECTIVITY)
FACEBOOK, MYSPACE(SOCIAL)
Person enjoying music in context
PIE
Many persons enjoying music in
contextI just want to make sure these guys can’t
do it without me
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Connectivity & Digitisation• TV was in a room• Music was on speakers and stereo
players• Digitisation & Connectivity is changing
contexts of use• Changing contexts of use is bringing
different industries into a context e.g. Tesco has a stake in your car – will they pay insurance?
• Disruption & Convergence comes from understanding value constellation of the context
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Changing Value Constellations• With more digital connectivity,
there are more connected contexts• more constellations with different
players will emerge, converging stuff, creating new ways to capture value, generating new business models, creating disruptions
• Move from vertical business models to systemic (horizontal & vertical)
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For more information:
Read the book!Value: Creating New Markets in the Digital Economy- out January 2013
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
*
* Tentative cover
www.valueandmarkets.com
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Making Value Creation in Context Digitally visible
Hub-of-all-Things (H.A.T) – a designed
experiment for new business models powered by IoT
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New (market) platform to serve context powered by IoT• The Internet of Things (IoT) refers to
uniquely identifiable objects (things) and virtual addressability that would create an Internet-like structure for remote locating, sensing, operating and/or actuating of such ‘things’. There is a sense that equipping all objects in the world with the ability to be animated and connected could transform lived lives.
• The home and the building as new platforms to serve contexts in the future
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.
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Key
= IoT Enabler = IoT Enabled = IoT Enhancer = Trustgate
Public Info Hub
Public Info Hub
Type1Type1
LegacyLegacy
LegacyLegacy
Type1Type1
LegacyLegacy
‘App in-Store’‘App in-Store’
‘Thing POD’
Thing Platform for Open-source Design
‘Thing POD’
Thing Platform for Open-source Design
Data for developers
Use of Virtual Devices
Applications Developed using open-source API
‘Thing Store’‘Thing Store’
Standard Data formats and defined
protocols
Type 1 Thing Interface
Type 1 Thing Interface
AppApp
AppApp AppApp
Thing 2s
Thing 2s
Thing 1s
Thing 1s
‘Thing 2’ Network
‘Thing 2’ Network
3D Printing/Scanning
Private Info Hub
Private Info Hub
Private Info Hub
Private Info Hub
‘App out-Store’‘App out-Store’
AppApp AppApp
landlord
The H.A.T.
resident Building mgr
Actuating
Exte
rna
l pla
tform
sHub-of-All-Things – tentative platform architecture for multi-sided markets
MM
M
TG
TG
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New Economic Models in the Digital Economy (NEMODE)
Professor Roger Maull
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Thank you
11 April 2023 Copyright Irene Ng, 2012. All rights reserved.