Business Modelling and Competitive Environment in the Digital Era (5 cr)

Objective

The course familiarises the students with the basic methods and tools for business modelling and identifying different scenarios derived from them, using critical thinking.

The student understands the impacts of digitalisation as a driver of change and a paradigm shift, and learns to produce business models using own organisation as an example. The student understands the basics of competitive environment and industry analysis. The student can analyse factors affecting the competitive environment, especially in the digital business environment, and analyse the impact of most important change factors in their own industry.

This course supports the content of the 'Business Analytics for Strategic Insights' course.

Content

• Industry analysis and factors affecting competition
• Business models and modelling
• Business environment analysis, tools and methods
• Impact of digitalisation as a driver of change

Students complete two assignments in the course:

1. Analysis of the competitive environment of the student's own industry (produced based on own critical thinking and with action proposals based on the analysis)
2. Business modelling on the example of student's own organisation, a group project

Location and time

30.8.2024 - 30.11.2024, ONLINE

Materials

Read and absorb these “must-read” books and articles for your course in autumn 2024.

BOOK 1: Osterwalder, A. & Pigneur, Y. (2010, or any later editions). Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Wiley.
See also https://www.strategyzer.com/books & videos by Osterwalder in YouTube.

Osterwalder together with Yves Pigneur & Tim Clark created the concept of the Business Model Canvas (BMC), which has taken the world of strategic management and business modelling by the storm during the last ten years. (Borrow from a library or buy own copy). This book will be your textbook for the course. You also will find the BMG useful in your other courses. The book will be available as a book and e-book from Metropolia library, once you enroll and get your access to Metropolia’s learning platform OMA. (Note, you will be able to activate your personal student account since mid August via either your Finnish banking codes, or by obtaining a password from Metropolia´s Admissions office).

ARTICLE 1: Blank, S. & Euchner, J. (2018). The Genesis and Future of Lean Startup: An Interview with Steve Blank. Research Technology Management, Vol. 61, Iss.5, pp.15-21. Available from: https://www.tandfonline.com/doi/full/10.1080/08956308.2018.1495963 (This is a 6-page long article on applying ‘The Lean Startup’ Method across the corporate contexts).

ARTICLE 2: Iansiti, M. & Lakhani, K.R. (2020). Competing in the Age of AI: How machine intelligence changes the rules of business. Harvard Business Review, Jan-Feb 2020. Available from: https://hbr.org/2020/01/competing-in-the-age-of-ai (This is an article and and audio record (25 mins) discussing how AI will impact the business competitive environment and organisations´ competitiveness).

ARTICLE 3 (in Metropolia online library): Porter, M. (2008). Five Competitive Forces That Shape the Strategy. Harvard Business Review. 2008, Vol.86 (1), p.78-137. Available from: https://metropolia.finna.fi/PrimoRecord/pci.cdi_openaire_primary_pmid_943972d09a79a7628a508e1a2c665372?sid=4362525414 (This is a 17-page article on applying Porter’s five forces model across industries).

ARTICLE 4 (in Metropolia online library): Baloutsos, S.; Karagiannaki, A., & Mourtos, I. Business Model Generation for Industry 4.0: A “Lean Startup” Approach. The International Technology Management Review 2020, Vol.9 (1), p.34-4. Available from: https://metropolia.finna.fi/PrimoRecord/pci.cdi_springer_journals_10_2991_itmr_k_200630_001?sid=4361259414 (This is an 11-page article on applying Business Model Canvas & Lean Startup Methods for Industry 4.0).

ADDITIONAL READINGS:

BOOK 2: (in Metropolia paper-book library): Ries, E. (2011). The lean startup: How today's entrepreneurs use continuous innovation to create radically successful businesses. New York, Crown, cop. See info here: https://metropolia.finna.fi/Record/3amk.77632?sid=4381814352

BOOK 3 (in Metropolia paper-book library): Porter, M. (2008). On Completion. Harvard Business School Publishing. See info here: https://metropolia.finna.fi/Record/3amk.240365?sid=3087289923

AUDIO BOOK 4 (in Metropolia online library): Iansiti, M. & Lakhani, K.R. (2020). Competing in the Age of AI. Available from: https://learning.oreilly.com/videos/competing-in-the/9781469076287/ (Length 9.5 hours)

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TIPS for extensive reading: How to read fast
Klein, P. (2010). How to Read an Academic Article: Blog.

Teaching methods

The course familiarizes the students with the basic methods and tools for business modeling and identifying different scenarios derived from them, using critical thinking.

The student understands the impacts of digitization as a driver of change and a paradigm shift, and learns to produce business models using own organization as an example. The student understands the basics of competitive environment and industry analysis. The student can analyze factors affecting the competitive environment, especially in the digital business environment, and analyze the impact of most important change factors in his own industry.

This course supports the content of the 'Business Analytics for Strategic Insights' course.

Content scheduling

Contents:
- Industry analysis & factors affecting competition
- Business models & modelling
- Business environment analysis, tools and methods
- Impact of digitalization as a driver of change.

Outline of the course assignments: Students complete two assignments in the course:
1. Analysis of the competitive environment of the student's own industry (produced based on own critical thinking and with action proposals based on the analysis).
2. Business modeling on the example of one student's own organization, a group project.

Further information

The language of tuition is English.

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

The student has completed basic requirements to pass the course and has made an attempt to apply and articulate concepts and information both verbally and in writing but has not made enough effort overall. The student has demonstrated little effort, interest and motivation for individual or team activities / assignments and the output is rather weak.

Assessment criteria, good (3)

The student can apply and articulate concepts and information well both verbally and in writing, certain areas of individual or team output require further attention; shows appropriate level of interest and motivation in individual and team activities. Good presentation delivery and analysis.

Assessment criteria, excellent (5)

The student demonstrates interest and motivation in individual and team activities and assignments, fully applies and clearly articulates concepts and information both verbally and in writing. The student is able to support their arguments with references to the recommended reading and lecture content. Excellent presentation delivery and analysis.

Assessment criteria, approved/failed

The student has completed basic requirements to pass the course and has made an attempt to apply and articulate concepts and information both verbally and in writing but has not made enough effort overall. The student has demonstrated little effort, interest and motivation for individual or team activities / assignments and the output is rather weak.

Assessment methods and criteria

Assessment criteria, satisfactory (1)
Sufficient performance: has completed basic requirements to pass the course and has made an attempt to apply and articulate concepts and information both verbally and in writing but has not made enough effort overall. The student has demonstrated little effort, interest and motivation for individual or team activities / assignments and the output is rather weak.

Assessment criteria, good (3)
Good overall performance: can apply and articulate concepts and information well both verbally and in writing, certain areas of individual or team output require further attention; shows appropriate level of interest and motivation in individual and team activities. Good presentation delivery and analysis.

Assessment criteria, Excellent (5)
Excellent performance in all elements of the course: shows interest and motivation in individual and team activities and assignments, fully applies and clearly articulates concepts and information both verbally and in writing. The student is able to support his/her argument with references to the recommended reading and lecture content. Excellent presentation delivery and analysis.

Assessment criteria, Approved/Failed
Sufficient performance: has completed basic requirements to pass the course and has made an attempt to apply and articulate concepts and information both verbally and in writing but has not made enough effort overall. The student has demonstrated little effort, interest and motivation for individual or team activities / assignments and the output is rather weak.

Qualifications

Completed higher education degree (Bachelor level)

Further information

The language of tuition is English.