TRACK Workshop: Business Model Innovation

Who: 
Jim Euchner
What: 
Virtual Workshop
When: 
Wednesday November 18, 2020 1:00pm4:00pm
Business model innovation is difficult, but it is essential to capturing value from many innovations, especially as value migrates to digital business models. It is hard, however, to know where to start.
 
This course is designed to provide enough background for participants to begin developing and testing new business models. It is based a model for doing business model innovation (the business model pyramid), which includes six steps. The course will take participants through each step of the process, with pragmatic advice on how to execute the work in the corporate context. It will include practical tools for quantifying customer value, identifying business model options, assessing risks, conducting experiments to learn about the risks, and organizing for incubation. We will also discuss the challenges of doing business model innovation in large companies and how to build internal support for your business.
 
The course will feature practical illustrations based on the real-world experiences of the instructor.  It will include hands-on break-out sessions that will give participants confidence in applying the concepts. Upon completion, participants will be able to identify business model options for their concept, assess them, and do the work to bring a new concept to market. This will increase both the likelihood that a concept will be funded internally and that it will be successful in the marketplace.
 
Outline:
  • When is business model innovation required?
  • Why do business model innovation?
  • What is a business model?
  • A process for business model innovation
  • Business model archetypes
  • Challenges with doing business model innovation in the corporate context
  • Governance issues
The session will include break-out exercises to work with the tools and techniques in order to improve understanding and also build connections with the other participants.
 

Who should attend this course:
The course is designed for those in innovation functions or within businesses who have responsibility for developing and bringing new business concepts to market.  It is useful both for practitioners developing new business concepts and for those who manage the innovation function. This course covers a broad range of business issues and can be viewed as a springboard to the participant’s professional advancement.
 

About the Instructor:
Jim Euchner is Honorary Professor at Aston Business School (UK) and Editor in Chief of Research-Technology Management, a peer-reviewed journal for practitioners of innovation, technology and research management. He was previously Vice President of Global Innovation at Goodyear Tire & Rubber Company, where he led the development of new businesses and helped launch five businesses on three continents.  Prior to his work at Goodyear, Jim held positions as Vice President of Growth Strategy and Innovation at Pitney Bowes, Inc. and Vice President, Network Systems Advanced Technology at Bell Atlantic (now Verizon). Jim has worked in the field of intelligent systems for over 25 years. In his consulting practice, he helps companies to implement businesses enabled by emerging technologies, including AI, the Internet of Things (IoT), automation, and predictive analytics. He helps companies to move quickly and in a disciplined way from concept to cash.  Areas of focus include the use of lean startup approaches in large organizations, business model innovation, and the challenges manufacturers confront in moving to services-led business models. Jim is a member of the Scientific Advisory Council for the Nissan Autonomous Vehicle program and industry co-chair of the Aston Advanced Services Partnership. He is also a co-founder of the MIT Innovation Laboratory, a consortium to nurture innovation in organizations. Jim has published and spoken extensively on innovation and technology management. Jim received his Bachelor of Science degree from Cornell University in mechanical and aerospace engineering and his Master of Science degree from Princeton University, where he was a Guggenheim Fellow.  He also holds an MBA from Southern Methodist University. He has received several awards for his work in AI, including two selections as Innovative Applications of AI, the Carnegie Mellon University/AMS Award for Managing Information Systems, and the Franz Edelman Award (finalist).

 


Registration Fees:

IRI Members: $295
Non Members: $395
 
Due to limited seating, we request that you cancel at least 48 hours before a scheduled class. This gives us the opportunity to fill the class. However, if you do not cancel prior to the 48 hours, you will lose the payment for the class.