Companies today — no matter their size, history, or industry — are constantly looking over their shoulder. Facing hyper-competition and increasing demands for growth, they see innovation as their best hope, typically focusing on new products, services, and technologies. But the cost of those innovations is significant, in terms of money, time, and risk. What these companies are missing is a systematic framework for creating and implementing profit-generating ideas that leverage existing products, markets, and infrastructure.
That opportunity can be seized by innovating your business model. Less risky and less costly than other forms of innovation, it can also add powerful competitive advantages. Success, though, requires a structured process that eliminates guesswork and subjectivity and can be duplicated across all areas of the organization. Business Model Innovation in the Digital Age enables business leaders to learn and adopt this process — and uncover potential innovations that range from simple but highly effective adjustments to industry-disrupting changes that are difficult or even impossible to copy.
Business Model Innovation in the Digital Age - Serguei Netessine
In Business Model Innovation, participants will discover new ways to dramatically improve profitability and productivity within their organization, says Academic Director Serguei Netessine.
May 13 - 17, 2019Philadelphia, PA$10,950
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In Business Model Innovation in the Digital Age, you will:
A Systematic Framework: Discover a structured process that eliminates guesswork when designing a business model.
Most organizations systematically and rigorously maintain and monitor key metrics such as quarterly financial statements, productivity levels, and market position. But they rarely evaluate their business models as thoroughly, leaving the opportunity to modify and even transform these models untapped. Business Model Innovation in the Digital Age helps participants unlock this potential by developing a process for innovation that can be managed and turned into a driver of growth.
Unlike innovation that involves the creation of new products, services, or technologies, this brand of business model innovation can come from anywhere in the company. It requires fewer resources and less time to implement, and can result in innovations that are far more profitable and transformative than product- or technology-driven ones.
Embrace Failure: Professor Serguei Netessine says failure is part of the process when innovating a business model.
Business Model Innovation in the Digital Age provides a systematic framework that relies on practical management rather than startup agility or luck. You will begin applying this framework to your own business during the program, conducting an audit of your current models and identifying areas for potential innovations. You will also learn a process for experimentation that addresses weaknesses in proposed business models and experiment with those models to quantify their value and viability. Working in small groups, you will apply class learnings to a real company.
Because the critical last step in the process is implementation, you will be immersed in a half-day simulation on change leadership, strengthening your ability to get buy-in and drive change in your organization. You and your team will act as consultants to a company going through a change effort, working to successfully sell that effort to those in the organization. This powerful learning experience, a highlight of the program, allows you to apply new approaches, learn from real-time feedback, and hone your skills.
Led by Professor Serguei Netessine, a global thought leader in business model innovation, the program also leverages the expertise of other Wharton faculty who specialize in big data, artificial intelligence, business ecosystems, and digital disruption. In addition, successful business model innovators will share their experience and insights with participants in two highly interactive sessions. By the end of the program, you will have the tools and skills needed to create value in your organization and to better position it in your market and industry.
Business Model Audit: Uncover within your organization currently unidentified ways to dramatically improve profitability.
Session topics include:
Professor and Vice Dean of Global Initiatives Serguei Netessine talks about Business Model Innovation for the Digital Age on Wharton Business Radio, SiriusXM.
This program is designed for executives who are experiencing significant changes in their markets, anticipating more nimble and robust competition, and/or facing profit margins that are under pressure. The curriculum is particularly relevant for business unit leaders who have been tasked with finding new avenues for growth within an existing product line, service, or geographic territory. C-suite-level executives, and board members seeking to maintain their organizations’ relevance and standing in their industry will also benefit.
Job titles may include:
To further leverage the value and impact of this program, we encourage companies to send cross-functional teams of executives to Wharton. We offer group enrollment benefits to companies sending four or more participants.
Serguei Netessine, PhDSee Faculty Bio
Professor of Operations, Information and Decisions; Vice Dean, Global Initiatives, The Wharton School
Research Interests: Business model innovation, operational excellence and entrepreneurship
Eric Clemons, PhDSee Faculty Bio
Professor of Operations, Information, and Decisions, Professor of Management, The Wharton School
Research Interests: Information technology and business strategy, managing the risk of information technology implementations, risk-reward tradeoffs in outsourcing and off-shoring
Saikat Chaudhuri, DBASee Faculty Bio
Adjunct Associate Professor of Management; Executive Director, Mack Institute for Innovation Management, The Wharton School
Research Interests: Mergers and acquisitions, organizational adaptation, outsourcing, technological innovation
Kartik Hosanagar, PhDSee Faculty Bio
John C. Hower Professor; Professor of Operations, Information, and Decisions, The Wharton School
Research Interests: Internet advertising, internet marketing, and media
Rahul Kapoor, PhDSee Faculty Bio
Associate Professor of Management, The Wharton School
Research Interests: Innovation, technology management and strategy, industry evolution, firm boundaries, business ecosystems
Nancy Rothbard, PhDSee Faculty Bio
David Pottruck Professor; Professor of Management; Chairperson, Management Department, The Wharton School
Research Interests: Emotion and identity, work motivation and engagement, work-life and career development
Download the program schedule, including session details.
Tuition for this program includes lodging and most meals. Prices are subject to change.
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