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Workbook 2 Business Model Design - MaRS

MaRS is a member ofMaRS Discovery District, November 2012 See Terms and ConditionsFundamentals of Entrepreneurial ManagementWorkbook 2 Business Model DesignMaRS is a member ofMaRS Fundamentals of Entrepreneurial Management Series2 MaRS DRRiscoDvieDRSr Introduction: Importance of Business modelsAll new businesses have to deal with the challenge of designing a sustainable Business Model . This is especially true for businesses with innovative products because they often disrupt parts of the industry value chain, which means that stakeholder relationships and revenue models must be crafted from scratch without the benefit of existing industry practices. While such a challenge might sound daunting, it also represents an opportunity to redefine an industry and reap the benefits of mastering a new way of doing 2: Business Model DesignThis Workbook is the second in a series of two Workbook guides that address the fundamentals of Business strategy for startups.

MaRSFuFndametlase oFfEFraspliplaldpMe FgeaeIltlasFclpMlo 5 MaRS DRRiscoDvieDRSr WORKBOOK 2: Business Model Design 1. Definition of business model There are several ways to define a business model. Most people understand that a business

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