[BU121] - Midterm Exam Guide - Everything you need to know! (34 pages long)

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School
Department
Course
WLU
BU121
MIDTERM EXAM
STUDY GUIDE
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Business models and value proposition design:
What is a business model?:
- A business model describes the rationale of how an organization creates, delivers, and
captures value
- How a company intends to make money and the logic by which it sustains itself
financially
- Reflects the strategic decisions and trade offs that entrepreneurs make to earn a profit
- How your idea actually becomes a business
- A product is the centre of a business model but it is not a business in and of itself without
a great business model
- Different companies can have similar offerings but different business models
3 ways to make money in water filtration:
- Q water:
o Rents water filtration systems for a monthly fee to restaurants
- AquaOvo:
o Sells water filtration systems with a stylish cooler for a one-time fee to
individuals
- Event water solutions:
o Rents water filtration systems for a per event fee to event holders
Impact of business model:
- Model affects strategy of operating
- Blueprint describing how an organization operates
Why does it matter?:
- Business models are at heart stories which are stories that explain how enterprises work:
o All the elements of a good story:
Precisely delineated characters
Plausible motivations
Plot that twists
- A successful business model represents a better way than the existing alternative
- Fail narrative test or numbers test when business models don’t work
- Narrative are flawed logic, limited strategic choices, and incorrect assumptions about the
value chain
- Numbers are imperfect value creation and capture assumptions
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Building a business model:
Business model generation:
- https://strategyzer.com/books/business-model-generation
Business model canvas:
- http://fromideatobusiness.strategyzer.com/
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Document Summary

A business model describes the rationale of how an organization creates, delivers, and captures value. How a company intends to make money and the logic by which it sustains itself financially. Reflects the strategic decisions and trade offs that entrepreneurs make to earn a profit. How your idea actually becomes a business. A product is the centre of a business model but it is not a business in and of itself without a great business model. Different companies can have similar offerings but different business models. 3 ways to make money in water filtration: Q water: rents water filtration systems for a monthly fee to restaurants. Aquaovo: sells water filtration systems with a stylish cooler for a one-time fee to individuals. Event water solutions: rents water filtration systems for a per event fee to event holders. Business models are at heart stories which are stories that explain how enterprises work: all the elements of a good story:

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