Much is written about the importance of "business models". Business Schools teach whole courses on the topic and consulting companies urge clients to innovate by changing those business models. But current definitions are unclear, and most business models make?? no attempt to quantify anything or demonstrate how the business actually performs - they are descriptive "statues", rather than true models.
But it is possible to develop working, quantified models that replicate how the performance of a real business changes over time - linking investment to product development and capacity growth, marketing to customer growth, staffing to capability, and connecting all into an integrated whole, including the financials. This makes many important things possible ... new ventures can be bench-tested before real money or people are put at risk; market competition can be managed to the firm's advantage; integrated business plans cutting across functional silos can be tested and shared by everyone; big challenges or initiatives can be rehearsed before they happen; and detailed, time-phased action-plans assembled and continually updated.
The mind-set and methods to accomplish these important purposes are not complex, and the tools required are easy for regular analysts to use in supporting senior management.
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Living Business Models for Strong Strategy and Performance | Kim Warren | |
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| Education YouTube Video Editor View attributions | Upload TimePublished on 3 Dec 2015 |
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