ATHENA week 2 overige chapters Flashcards
(64 cards)
when is the best time to determine a company’s business model?
after the validation of the business idea and before looking at the details of the operations of its products/services
two categories of business models:
standard models
disruptive models
standard models: depict existing plans or recipes firms can use to determine how they will create, deliver and capture value for its stakeholders
disruptive: rare models that do not fit into the profile of standard business model and are impactful and disrupt/change the way business is conducted in an industry/niche
when we talk about disruptive business models, we can divide into two:
new market disruption
low end market disruption
new market disruption: addresses a market that previously wasn’t served
low end market disruption: possible when the firms in an industry continue to improve p/s to the point where they are actually better than a sizable portion of their clientele’s needs or desires
What is performance oversupply?
When companies make their products too advanced for some customers, opening a gap for simpler alternatives.
what are the 4 key points when it comes to a business model template
core strategy
financials
resources
operations
core strategy
- mission
- differentation
- target market
- product/market scope
resources
core competencies
key assets
financials
revenue streams
cost structure
financing and funding
the keys assets can be …
physical, financial, intellectual or human
how many key assets should the firm name
3-4
cost structure (financials), 3 key things
- cost based or value based
- what are the fixed and variable costs
- what are the business’ major cost categories
three costs when it comes to financing/funding
capital costs
one time expenses
ramp up expenses
what are ramp up expenses
the costs a startup must pay upfront before it starts making enough money to become profitable
operations
product or service production
channels
key partners
product or service production (operations) detailed or not detailed?
very DETAILED
Why do startups often rely on key partners instead of doing everything themselves?
Because they typically don’t have enough resources and many required tasks fall outside their core competencies
How have business relationships with partners changed in recent years?
They’ve become more cooperative — instead of just transactional or “arm’s length,” businesses now build closer, ongoing partnerships.
Network
A HUB-and-WHEEL configuration with a local firm at the hub organizing the interdependencies of a complex array of firms
Consortia
A group of organizations with similar needs that band together to create a new entity to address those needs. (little bit more complex than joint venture).
Trade associations
Organizations (typically nonprofit) of firms in the same industry that collect and disseminate trade information, offer legal and technical advice, industry-related training.
are trade organization usually profit or nonprofit
nonprofit
Does a business model innovation have to be disruptive?
No — it only needs to provide higher value or better benefits than current competitors
whats a business model canvas (picture in summary)
Like a snapshot of a business model, so less detailed, easy way to have an overview of that a business structure is going to look like
How did companies’ internal cultures shift during Covid-19?
They moved toward trust-based cultures, with more flexible schedules, clearer goals, and empowerment of lower-level employees to make quick decisions
How did the role of IT and remote work change during the pandemic?
Remote work and IT became STRATEGIC capabilities, NOT JUST SUPPORT functions.
