Innovation and Entrepreneurship

Talk from a business model innovator
You will now listen to a talk by entrepreneur and business model innovator, Alex Ostervalder.
As you listen to Alex’s talk, make a note of the key points he makes, noting particularly:
• His thoughts on whether search for the business model is more important than writing a business plan
• What the term “business model” means
• How he got around his problem of conceptualizing his business model
• The elements that can be mapped to any business model.
Note: This talk is over 50 minutes in length, so please set aside at least 75 minutes for this task to allow you to take notes on the questions above.
Alex’s Talk
To access the video, select this link.Links to an external site.
Tools for Business Model Generation [Entire Talk] | Video | Stanford eCorner
Discussion Task – Searching for a business model

Your Task
After listening to the talk, consider the following question:
• What importance do you place on the search for a business model over other entrepreneurial tasks such as writing a business plan?
Post your response to this question in this discussion forum, giving reasons for your thoughts, and justify these from evidence from your own reading, research and your own experience.

Your reflection should be no longer than 200 words
Post your completed reflection in this discussion forum, noting in particular how your views have changed having watched Alex’s talk.

Note from Tutor:
• The way you write your submissions is as important as the insights you make.
• Your responses should NOT read like a Consultants’ Report, they should be structured as proper academic submissions, and our marking rubrics reflect this.
• Please make use of academic theories, models and concepts – these should not be generic reproductions but tailored to your argument.
• develop your argument in a logical form
• demonstrate sound critical ability
• substantiate your main assertions with appropriate referencing
• be lucid in expression and use visuals BUT the visuals must be meaningful and add value, and not just be pretty pictures
• your insights/content should be relevant, succinct, material, incisive, engaging.

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