Leading the Way
Evaluating your Business Model Ecosystems Innovation isn’t easy. Fortunately there are a lot of tools available for accomplishing this task. Unfortunately they are often fragmented and emphasize different components of the business ecosystem, and so do not provide an adequate evaluation of how your Business Model compares to competitors. Best practices for developing your business model and efforts to support innovation change over time.
Mechanisms supporting innovation is not isolated to funding. It also involves public policy, legislation, regulatory frameworks, resources, training, values, culture, and other reinforcing mechanisms. Insisting on one vs. another mechanism without a proper understanding of history of innovation, values, and the marketplace is more akin to proposing a ‘one-size-fits-all’ model for innovation than seeking to understand how it can be accomplished. Evaluating the business model thus depends on industry changes, risks, and a number of other overlapping factors.
Creating a Business Culture that Supports Innovation
As an Input to this Business Ecosystem – The key is insuring that your business’ product and service offerings are relevant and solve a legitimate customer need. The infographic represents the different components of the business model ecosystem. Although not exhaustive, developing business model around these components will improve your business’ likelihood of success. Stronger components are those that not only represent industry standards and best practices but also lead the way to define and establish new standards and practices. Weaker components are those that not only lag behind industry standards and best practices but may even fail to realize the gap exists.
The Business Plan Generator includes the five stages below. Beginning with a review of the process map for using the Business Plan generator followed by phases that help evaluate your business model (in specific areas), identification of tools and frameworks to help introduce improvements (where needed), and an opportunity to actually draft your plan (and download) for the designated business area(s). Once all of these Business Ecosystem components have been incorporated in to your business model they can be ranked based on their strength and weaknesses.
Step 1: Evaluate Your Business Model Area of Focus
Step 2: Select Business Model Tools to Use
Step 3: Strengthen Your Business Model Area of Focus
Step 4: Identify Your Goals & Build Your Plan
Evaluate One Business Area at a Time
Overview of Strategic Plan Generator
On this page you can review the steps taken as you use the Strategic Plan Generator. Additional tools, resources, and options are available to paid members. More information regarding the available memberships (Free, Silver, & Gold Memberships) is also available here. Feel free to contact us with additional questions at Consulting@innovatevancouver.org
Leadership Model Canvas (access with Free Membership)
After signing up and choosing your membership level you will have a chance to explore this first tool: The Leadership Model Canvas. Use this tool to explore your organization's leadership in the areas of partners, strategies, experience, and more. Build out your leadership model and print out a copy for your records, then move on to exploring the business model competencies included in the following steps!