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WORLD LEADING BUSINESS SUPPORT

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 (9:15 – 16:00)

 

Session 01 – Welcome

The opening session 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, and why it matters.

Session 02 – Business Model Review Part 1 – Business Model Canvas Recap

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.

Session 03 – Business Model Review Part 2 – Business Model Canvas Environment

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.

Lunch Break (45 min)

 

Session 04 – Why Innovate?

This session briefly 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 05 – 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.

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 Part 1 – Frontstage Disruption

Using different business model patterns to identify ways to create Frontstage disruption. This can create greater enterprise value through growth by capturing new markets using new channels to access new customer segments. This is illustrated with case studies from companies from within SETsquared’s Alumni community and well-known successful businesses.

Day 02 (9:15 – 16:00)

 

Session 08 – Business Model Patterns Part 2 – Backstage Disruption

Using different business model patterns to identify ways to create Backstage disruption. This can create greater enterprise value through building difficult to replicate resources or scalability through partnering. This is illustrated with case studies from companies from within SETsquared’s Alumni community and well-known successful businesses.

Session 09 – Business Model Patterns Part 3 – Profit Formula Disruption

Using different business model patterns to identify ways to create Profit Formula disruption. This can create greater enterprise value through new revenue streams or innovative cost reduction. This is illustrated with case studies from companies from within SETsquared’s Alumni community and well-known successful businesses.

Session 10 – Identifying Assumptions & 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.

Lunch Break (45 min)

 

Session 11 – Testing

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

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 14 – Wrap-up

Some further thoughts on the power and importance of innovation plus a chance to share collective views on what has been learnt and next steps in the journey.

 

Back to registration page – business

 

Back to registration page – researchers

SETsquared is a partnership between

  • University of Bath
  • University of Bristol
  • University of Exeter
  • University of Southampton
  • University of Surrey