Teece (2010) "Business Models, Business Strategy and Innovation
22 important questions on Teece (2010) "Business Models, Business Strategy and Innovation
What is the essence of a business model?
What does the business model reflect?
What is the purpose of this article?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
Why do business models need to be more customer-centric?
What are the five elements of a business model?
- Select technologies and features to be embedded in the product/service
- Determine benefit to the customer from consuming/using the product/service.
- Identify market segment to be targeted.
- Confirm available revenue streams
- Design mechanisms to capture value
Where is a business model about?
What is the difference between a business model and a business strategy?
What are the four steps to achieve sustainable business models?
- Segment the market
- Create a value proposition for each segment
- Design and implement mechanisms to capture value from each segment
- Figure out and implement ‘isolating mechs’ to hinder or block imitation by competitors and disintermediation by customers and suppliers.
What are the barriers to imitating business models?
- Implementing a business model may require systems, processes and assets that are hard to replicate
- There may be a level of opacity that makes it difficult for outsiders to understand in sufficient detail how a business model is implemented, or which of its elements in fact constitute the source of customer acceptability
- Even it is transparently obvious how to replicate a pioneer's business model, incumbents in the industry may be reluctant to do so if it involves cannibalizing existing sales and profits or upsetting other important business relationships.
What are the key issues in designing a business model?
What is the profiting from innovation framework?
Which two extremes modes does the framework recognize by which innovators can capture value from their innovation?
- Integrated business model, in which an innovating firm bundles innovation and product together and assumes the responsibility for the entire value chain from A to Z including design, manufacturing, and distribution.
- Outsourced business approach (licensing)
What do companies have that choose for the integrated business model?
When can a company choose to license?
What is in between outsourced and integrated business models?
How can the profiting from innovation framework be considered?
Why is it hard to secure strong intellectual property protection for scientific knowledge?
What doe economists call 'public goods'?
Do technological innovations need to be matched with business model innovation?
What is the role of discovery, learning and adaptation?
Is traditional market research enough to identify as yet unarticulated needs and/or emerging trends?
What does selecting the right architecture and pricing model for a business require?
The question on the page originate from the summary of the following study material:
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