Programme Agenda: Innovation Workout

Objectives

 

• Understand why continual innovation is important and how this can be achieved.
• To provide tools and experience to re-examine participants existing business model, as captured in a Business Model Canvas.
• To help identify alternative business models and understand how to score the potential of each.
• Identify one new model and develop an action plan to test and validate the new model.
• To help identify and articulate potential needs for R&D that underpin participants’ new potential business models.

 

Day 01

 

Session 01 – Overview and objectives

• The opening session outlines why continual innovation is important to remain competitive and how to create value and scale into the business. It will set out the objectives for the 3 days of training and what we all hope to achieve through it.
• It also gives the opportunity for us all to get to know each other as a group as each company will present who they are, what is their value proposition, business model and what stage of maturity are they at.

Session 02 – Why innovate?

• This session looks at the theme of innovation and examines just why continuing innovation is so important to businesses. We will look at the two avenues of ‘Explore’ and ‘Exploit’: exploring new opportunities and business models while exploiting existing ones. Finally, we will look at the Business Model Canvas as a useful innovation tool to explore, develop and communicate new products, models, and processes.

Session 03 – Review of your business model

• What are the essentials and best practices of the Business Model Canvas? An opportunity for participants to review and refine their model with peer feedback.  What other factors might affect the success of a business model and drive the need for innovation. What are the sensitivities? A chance to prioritise factors using a scoring form in the process.

Session 04 – Exploit

• Explore how businesses need to innovate to evolve and shift their business models to continue to develop and grow. Understand the process of how to explore new business model options by looking at some shift patterns and exploring how this might be applied to your current business model. The theory is backed up with examples from both within SETsquared Alumni and well known businesses.

Review of the day, questions, feedback, and homework briefing

• The purpose of the homework is to begin to explore options for innovating around your current business model to identify opportunities to evolve/shift it to a better place.

 

Day 02

 

Session 05 – Recap of Day 1

• Quick recap the key elements of the previous day and review the homework that was set.

Session 06 – Explore

• Understand business model dynamics through looking at business models with similar characteristics, similar building blocks or similar behaviours. These are illustrated as a series of business model patterns which can either be adopted by a business or used to identify opportunities for disrupting other businesses.

Session 07 – Business Model Patterns

• Using these different business models patterns to identify ways to create disruption within a current model. This can create greater value, growth and capture new markets, channels or customer segments. This is illustrated with case studies from companies from within SETsquared’s Alumni community and well known successful businesses.

Session 08 – Assessment

• Having identified some potential new business models, the 7 key questions assessment technique will be used as a basis for assessing these to understand which might have the most potential.

Review of the day, questions, feedback, and homework briefing

• The purpose of the homework is for participants to continue the assessment of options for innovating their business models to both evolve the existing one or to create new ones and to select one that can be worked on in the final session.

 

Day 03

 

Session 9 – Recap of Day 2

• A recap of the key elements of the previous day including Business Model Actions, Business Model Patterns and assessment and a review the homework that was set.

Session 10 – Assessing risk

• With the new/evolved business model selected this session will look to identify what key assumptions pose the most significant risks to its success. This is the starting point for identifying what might be needed to address these risks.

Session 11 – Testing Business Ideas

• Consider how to validate the assumptions on which the new business model is based. Opportunity to explore the prioritised risks for the new/evolved business model selected and to identify how to address and test each of the top 3 risks.

Session 12 – Next Steps – Actions and Ownership 

• The aim of this session is to consider what actions need to be taken to explore the new potential business model, and who will own those actions. Develop these into a plan that can be discussed in the speed mentoring session.

Session 13 – Speed mentoring

• The aim of the speed mentoring session is to provide the opportunity for each participant to gain focused one-to-one feedback from programme facilitators and key members of the SETsquared Scale-up programme to understanding opportunities for support from the SETsquared network.

Session 16 – Wrap-up

• Final collective thoughts on what has been learnt and the next steps in the journey.

 

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