Lectures

Question 1

What are tools of refining value proposition?

Answer 1

• Generation
• Refinement
• Eliminate
• Insert
• Raise
• Reduce
• Bundle
• Unbundle

Question 2

What is the process of refining value proposition?

Answer 2

1. Value proposition can be refined
2. By doing business differently
3. Which can be understood by analyzing trends
   => business model innovation

Question 3

What is the biggest barrier to business model innovation?

Answer 3

Internal resistence / afraid to change

Question 4

What are 4 ways to drive change?

Answer 4

• Show commitment
• Involve employees in change management
• Establish champions and change management leaders
• Avoid cognitive biases

Question 5

What are the cognitive biases?

Answer 5

• Status Quo Bias
• Center Stage Effect
• Anchoring
• Sunk Cost
• Frequency Validity
• Zero Risk Bias
• Bandwagon effect