ECN7515 Business Model Innovation to Compete in the Digital Economy
3 Elective Credits
This course explores the transformative power of business model innovation in driving company success. Business model innovation is a critical consideration for both startups and established firms as competitive landscapes and industries are experiencing dramatic evolution. This course provides students with the tools to design, implement, and adapt innovative business models effectively.
Through this course, students will analyze business model innovation, respond to disruptive market entrants, and determine whether a company should operate a single or multiple business models. We will also examine strategies for launching and addressing key challenges in multisided platforms. Additionally, we will explore how entrepreneurial organizations can leverage business model innovation to challenge incumbents, even in mature industries.
Key questions to be explored are: How can a startup disrupt industries such as retail, finance, wine, music, and biotechnology? What fundamental considerations are necessary when designing business models that simultaneously serve multiple customer segments? How can we develop sustainable business models? What are the key challenges in launching innovations based on multisided platforms? How should we approach matching mechanisms, network effects, and pricing in business model innovation? How can operating multiple business models simultaneously create a competitive advantage that is difficult to replicate?
Regardless of your career aspirations, understanding business models is essential. For instance, in investment banking or private equity, a deep understanding of a company’s “engine” (i.e., its business model) is crucial for evaluating profitability. In consulting, solving organizational challenges effectively requires a strong grasp of business model dynamics. In industry, regardless of sector or role, understanding the broader business context is essential for informed decision-making. In entrepreneurship, business model innovation is a powerful tool for achieving competitive success.
The course emphasizes real-world application through case studies and examples from diverse industries and global markets. All cases and readings reflect contemporary business challenges.
Prerequisites: None