The following scenario describes a business that needs your assistance: Judy Smith is the Chief Information Officer (CIO) of a leadership team in mid-sized consulting firm that primarily creates educational technology-inspired digital resource materials for national and international partners. She is looking for a new perspective on her company and its processes because she believes that there are several pain points that should be resolved.
One of the problems the company is facing is in relation to technology, multi-platform systems, and content management. The scale achieved by its competitors needs to be taken into account (Pearson Embanet, McGraw Hill, etc.). In addition to scale, Judy is also concerned that the rise of for-profit educational institutions and departments has negatively impacted the professionalism and public opinion of educational services.
At this point, Judy has consulted with the other members of the senior leadership team, and they have decided that a new business model approach would help organize the company’s vision, highlight their unique features and align their goals with their branding. Finally, Judy is also suggesting that the company use a different support service model, but she isn’t sure how to approach this plan.Your job: Help Judy by providing her with some fresh perspectives on innovative business models using any method mentioned in this course that is appropriate and applicable.
Question instructions: There are several ways to develop new and innovative market plans by using prototyping, storytelling or scenarios. To assist with structuring your pitch to Judy’s team, develop your plan as short responses using the following as a guideline (based on the textbook scenario in Osterwalder, John Wiley & Sons (2010), pg. 169):
Outline Big Issues:
List the typical client in this industry Pick the customer segment and industry of your choice Describe 5 of the biggest issues related to this business. Generate possibilities.
Take another close look at the 5 customer issues you selected Generate at least two business model ideas. Pick the five ideas you think are best (not necessarily the most realistic). Prototype the business model.
Choose the two of the most diverse ideas of the five generated. Develop two conceptual business model prototypes by sketching the elements of each idea on different Business Model Canvases (find pdf attached). Annotate the pros and cons of each prototype.
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