Aim

In economic, social, cultural, or any other context, a business model outlines how an organisation develops, delivers, and captures value. Business model construction and modification is also known as business model innovation. Thus, Business Model Navigator (BMN) – or business model innovation – is a structured way to better understanding the key factors of business model success and supporting business model innovation. This model has been successfully applied in several organisations to date e.g., ‘An aspiring field such as New Space really benefits from the Business Model NavigatorTM because the market will be defined by a variety of innovative business models – going through all the possibilities is a real competitive advantage!’ – Dr Henning Roedel, NASA Ames Research Centre (Gassmann et al., 2014).

HE teachers will need to explain why it is critical to know exactly which client groups are crucial to the company. Also, which ones will and will not be addressed by the existing business model. The overall purpose of their BMN lecture should be to communicate to students the broad concept of BMN, followed by its application and use. Through numerous procedures and activities, teachers will develop a greater grasp of the value proposition in action. BMN is made up of these processes and activities, as well as related resources and competencies, and their coordination along the company’s value chain.