Business Models

In order to contribute to business development in an organization or company, it is absolutely essential that you have knowledge and understanding of the market and business models. In order to extract the full effect of a company's introduction and investment in digitization and digital transformation, one will greatly benefit from knowledge of business models and the elements that make up a business model.

This subject will make the student better able to see the various elements that must be in place for the company to succeed in developing new and innovative business models. Through the subject, the student will learn the Business Model Canvas, different patterns for business models, design techniques for developing business models, as well as strategies for developing new and innovative business models. After completing the course, the student should also be able to take part in the development of new business models.

After completing the course, the following overall learning outcomes must be achieved:

Knowledge

Students must:

• Be able to explain in detail what a business model is, and be able to explain why different companies in different industries need different business models.
• Be able to describe Osterwalder's Canvas model
• Be able to describe different patterns and strategies for developing business models.
• Be able to explain the importance of a focus on the market and market understanding in the development of a business model.
• Be able to understand the opportunities digitization and digital transformation provide in relation to new and innovative business models.
• Be able to account for the interaction between a business model and the environment.

Skills

Students must:

• Be able to use relevant theory and knowledge within digitization and digital transformation in the work of creating new and innovative business models.
• Be able to identify the most important elements of a business model.
• Be able to use various design techniques to create new and innovative business models.

General competence

Students must:

• Be able to identify and document strengths and weaknesses with existing business models.
• Be able to contribute to continuous maintenance of business models.

Various forms of work and learning activities will be used with a combination of lectures, project work and student presentation.