MCIL Business Model Strategy Workshop
Recent cohorts from a prestigious innovation leadership programme run by Keele University's Mercia Centre for Innovation Leadership were back at Keele last week for an additional workshop on Business Model Strategy led by Keele Management School’s Director, Professor Kurt Allman.
In the strategy session, participants were taken through the very broad pillars of strategy: strategic analysis, choice, and implementation. This very much placed the business at the heart of the strategic process, recognising the dynamic characteristics of customers and competitors. The outcome of the session was to support businesses navigating these challenges over the long-term in order to accumulate, or at the very least maintain, capital.
Returning to the key questions of strategy, which are: who is the customer; what does the customer value; how do we make money in the business; and, how can we deliver value to customers at an appropriate cost, which can often be lost as business owners/managers look to maintain or strengthen the status quo. Business Model planning can be useful in enabling the firm to re-examine the rules of the game and challenge dominant assumptions. It places what real problem the business is attempting to solve for the customer at the centre of the analysis.
The Mercia Centre for Innovation Leadership is a prestigious innovation leadership programme addressing distinctive organisational and leadership challenges for innovation-led, knowledge-intensive businesses across the Stoke-on-Trent and Staffordshire Local Enterprise Partnership area. To find out more about the Mercia Centre for Innovation Leadership, please click here.
The MCIL project (ref: 32R15P00229) is part-funded from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds England Growth Programme 2014-2020.