Using Design Thinking to Design Business Models
In this second article of the Enterprise Architecture for Business Model Innovation Series, a design think-based approach is presented for business model design.
Design thinking is a user-centered design philosophy based on building empathy to guide the search for breakthrough innovation. The design process involves the innovation team introduced in the first part of the series.
Business Model Design
Business model design sets out to define how an enterprise creates, delivers and captures market value. The interrelationship between those three facets is key to understanding how a business model can be invented to define a new venture. Intrapreneurs exercise the ideation component to produce novel products or services to potentially create a new market with a compelling value proposition for target customer segments. The activities and processes that need to be executed together with partners and suppliers to ship the product or service to customers define the value fulfillment mechanism. Lastly, the enterprise captures value when customers pay for the product or service contributing to the revenue stream. Implementing this value generation cycle is the essence of business model design. [...]
To read the whole post and interact, please visit the SogetiLabs blog: Using Design Thinking to Design Business Models