You’re Holding A Handbook For Visionaries, Game Changers .
You’re holding a handbook for visionaries, game changers,and challengers striving to defy outmoded business modelsand design tomorrow’s enterprises. It’s a book for the written byAlexander Osterwalder & Yves Pigneurco-created byAn amazing crowd of 470 practitioners from 45 countriesdesigned byAlan Smith, The Movement
design byAlan Smith, The Movementwww.thmvmnt.comphotography byRannie TurriganToronto, CanadaEuro values are calculated atwww.rannieturrigan.com 0.70 to the U.S. dollar.illustrations byPaper, print and finishing:JAM Visual Thinking,Modderman DrukwerkAmsterdam, HollandAmsterdam, The Netherlandswww.jam-site.nlwww.modderman.nl 2009 Alexander Osterwalder & Yves Pigneuradditional illustrations byText is set in HTF WhitneyXPLANE: The visual thinking co.This book was Self Publishedand HTF Mercury with plentyPortland, OR USAISBN: 978-2-8399-0580-0of handwriting.www.xplane.com
BusinessModelGenerationA Handbook for Visionaries, Game Changers, and ChallengersWritten byAlexander Osterwalder and Yves PigneurDesignAlan Smith, The MovementEditor and Contributing Co-AuthorTim ClarkProductionPatrick van der PijlCo-created by an amazing crowd of470 practitioners from 45 countries
Co-created by:Ellen Di RestaMichael Anton DilaRemko VochtelooVictor LombardiJeremy HayesAlf RehnJeff De CagnaAndrea MasonJan OndrusSimon EvenblijChris WaltersCaspar van RijnbachbenmlihRodrigo MirandaSaul KaplanLars GeiselSimon ScottDimitri LévitaJohan ñrnebladCraig SadlerPraveen SinghLivia LabateKristian SalvesenDaniel EggerDiogo CarmoMarcel OttGuilhem BertholetThibault EstierStephane ReyChris PeasnerJonathan LinCesar PicosFlorianArmando MaldonadoEduardo MíguezAnouar HamidoucheFrancisco PerezNicky SmythBob DunnCarlo ArioliMatthew MilanRalf BeukerSander SmitNorbert HermanAtanas ZaprianovLinus MalmbergDeborah Mills-ScofieldPeter KnolJess McMullinMarianela LedezmaRay GuyotMartin Andres GiorgettiGeert van VlijmenRasmus RønholtTim ClarkRichard BellErwin BlomFrédéric SidlerJohn LM KiggunduRobert ElmZiv BaidaAndra Larin-van der PijlEirik V JohnsenBoris FritscherMike LachapelleAlbert MeigePablo M. RamírezJean-LoupColin PonsVacherandGuillermo Jose AguilarAdriel HaeniLukas ProchazkaKim KornAbdullah NadeemRory O'ConnorHubert de CandéFrans WittenbergJonas LindelöfGordon GrayKaren HembroughRonald PilotYves Claude AubertWim SalyWoutergortFanco Ivan Santos NegrelliAmee ShahLars MårtenssonKevin DonaldsonJD SteinRalf de GraafLars NorrmanSergey TrikhachevThomasAlfred HermanBert SpangenbergRobert van KootenHans SuterWolf SchumacherBill WelterMichele LeidiAsim J. RanjhaPeter TroxlerOla DagbergWouter van der BurgArtur SchmidtSlabberPeter JonesSebastian UllrichAndrew PopeFredrik EliassonBruce MacVarishGöran HagertMarkus GanderMarc CastricumNicholas K. NiemannChristian LabezinClaudio D'IpolittoAurel HosennenAdrian ZauggFrank Camille LagerveldAndres AlcaldeAlvaro Villalobos MBernard RacinePekka MatilainenBas van OosterhoutGillian HuntBart BooneMichael MoriartyMikeDesign for InnovationTom CorcoranAri WurmannAntonio RobertWibe van der Polpaola valeriMichael SommersNicolas FleuryGert SteensJose Sebastian PalazuelosLopezjorge zavalaHarry HeijligersArmand DickeyJason KingKjartan MjoesundLouis RosenfeldIvo GeorgievDonald ChapinAnnie ShumValentin CrettazDave CrowtherChris J DavisFrank Della RosaChristian SchüllerLuis Eduardo de CarvalhoPatrik EkströmGreg KrauskaGiorgio CasoniStef SilvisPeter FrobergLino PianiEric JacksonIndrajit Datta ChaudhuriJeroen de JongGertjan VerstoepSteven DevijverJana ThielMartin FanghanelMichael SandfærNiall CaseyJohn McGuireVivian VendeirinhoMartèl Bakker SchutStefano MastrogiacooMark HickmanDibrovReinhold KönigMarcel JaeggiJohn O'ConnellJavier IbarraLytton HeMarije SluisDavid EdwardsMartin Kuplens-EwartJay GoldmanIsckiaNabil HarfoushYannickRaoef Hussainalironald van den hoffMelbert VisscherManfred FischerJoe ChaoCarlos MecaMario MoralesPaul JohannessonRob GriffittsMarc-Antoine GarrigueWassili BertoenBart PieperBruce E. TerryMichael N. WilkensHimikel -TrebeAWalter BrandStephan ZiegenhornFrank MeeuwsenColin HendersonDanilo TicMarco RaaijmakersMarc SniukasKhaled AlgasemJan PelttariYves SinnerMichael KinderVince KuraitisTeofilo Asuan Santiago IVRay LaiBrainstorm WeeklyHuub RaemakersPeter SalmonPhilippeKhawaja M.Jille SolRenninger, WolfgangDaniel PandzaRobin UchidaPius BienzIvan TorreblancaBerry VetjensDavid CrowHelge HannisdalMaria DroujkovaLeonard BelangerFernando Saenz-MarreroSusan FoleyVesela KolevaMartijnEugen RodelEdward Giesen
Marc FaltheimNicolas De SantisAntoine PerruchoudBernd NurnbergerPatrick van AbbemaTerje SandLeandro JesusKaren DavisTim TurmelleAnders SundelinRenata PhillippiMartin KaczynskiFrankBala VaddiAndrew JenkinsDariush GhatanMarcus AmbroschJens HoffmannSteve ThomsonEduardo M MorgadoRafal DudkowskiAntónio Lucena de FariaKnut Petter NorVentenat VincentPeter EckrichShridhar LollaJens LarssonDavid SibbetMihail KrikunovEdwin KruisRoberto OrtelliShana Ferrigan BourcierJeffrey MurphyLonnie Sanders IIIArnold WytenburgDavid HughesPaul FergusonFrontier Service Design,LLCPeter NoteboomRicardo DoradoJohn SmithRodEddieJeffrey HuangTerrance Moorense 55Leif-Arne BakkerEdler HerbertBjörn KijlChris FinlayPhilippe RousselotRob SchokkerWouter VerwerJan SchmiedgenUgo MerkliJelleDave GrayRick le RoyRavila WhiteDavid G Luna ArellanoJoyce HostynThorwald WestmaasJason TheodorSandra PickeringTrond M FflòvstegaardJeaninne Horowitz GassolLukas FeuersteinNathalie MagniezGiorgio PaulettoMartijn PaterGerardo Pagalday ErañaHaider RazaAjay AilawadhiAdriana IeraciDaniël GiesenErik DejongheTom WinstanleyHeiner P. KaufmannEdwin Lee Ming JinStephan LinnenbankLilianaJose Fernando QuintanaReinhard PrüglBrian MooreGabiMarko SeppänenErwin FieltOlivier GlasseyFrancisco CondeFernándezValérie ChanalAnne McCrossanLarsenFred CollopyJana GörsPatrick ForanEdward OsbornGreger HagströmAlberto SaavedraRemco de KramerLillian ThompsonHoward BrownEmil AnsarovFrank ElbersHoracio Alvaro VianaMarkus SchrollHylke ZeijlstraCheenu SrinivasanCyril DurandJamil AslamOliver BueckenJohn Wesner PriceAxel FrieseGudmundur KristjanssonRita ShorJesus VillarEspen FigenschouSkotterudJames ClarkJose Alfonso LopezEric SchreursDonielle BuieAdilson ChicóriaAsanka WarusevitaneJacob RavnHampus JakobssonAdriaan KikJulián Domínguez LaperalMarco W J DerksenDr. Karsten WillrodtPatrick FeinerDave CutherellDi PriscoDarlene GoetzmanMohan NadarajahFabrice DelayeSunil MalhotraJasper BouwsmaOuke ArtsAlexander TroitzschBrett PatchingClifford ThompsonJorgen DahlbergChristoph MühlethalerErnest BuiseAlfonso MirelesRichard ZandinkFraunhofer IAOTor Rolfsen GrønsundDavid M. WeissKim Peiter JørgensenStephanie DiamondStefan OlssonAnders StølanEdward KoopsPrasert ThawatchokethaweePablo AzarMelissa WithersEdwin BeumerDax DenneboomMohammed MushtaqGaurav BhallaSilvia AdelhelmHeather McGowanPhil Sang YimMoel BarryVishwanathEdavayyanamathRob MansonRafael FigueiredoJeroen MulderEmilio De GiacomoFranco GasperoniMichael WeissFrancisco AndradeArturo Herrera SapunarVincent de JongKees GroeneveldHenk BohlanderSushil ChatterjiTim ParseyGeorg E. A. StampflMarkus KreutzerIwan SchneiderMichael SchusterIngrid BeckAntti ÄkräsEHJ PeetRonald PoultonRalf WeidenhammerCraig RispinNella van HeuvenRavi SodhiDick RemptRolf MehnertLuis StabileEnterprise ConsultingAline FrankfortManuel ToscanoJohn SutherlandRemo KnopsJuan MarquezChris HopfMarc FaehUrquhart WoodLise TormodCurtis L. SippelAbdul Razak ManafGeorge B. SteltmanKarl BurrowMark McKeeverLinda BryantJeroen HinfelaarDan KeldsenDamienRoger A. ShepherdMorten PovlsenLars ZahlElin Mørch LangloXuemei TianHarry VerwayenRiccardo BonazziAndré JohansenColin BushAlexander KorbeeJ BartelsSteven RitcheyClark GolestaniLeslie CohenAmanda SmithBenjamin De PauwAndre MacieiraWiebe de JagerRaym CrowMark Evans DMSusan Schaper
Are you an entrepreneurial spirit?yes noAre you constantly thinking about how tocreate value and build new businesses, or howto improve or transform your organization?yes noAre you trying to find innovativeways of doing business to replaceold, outdated ones?yes no
If you’ve answered“yes” to any of thesequestions, welcometo our group!You’re holding a handbook for visionaries, gamechangers, and challengers striving to defy outmodedbusiness models and design tomorrow’s enterprises.It’s a book for the business model generation.
Seven Faces ofBusiness ModelInnovationThe Senior ExecutiveThe IntrapreneurThe EntrepreneurJean-Pierre Cuoni,Dagfinn Myhre,Mariëlle Sijgers,Chairman / EFG InternationalHead of R&I Business Models / TelenorEntrepreneur / CDEF Holding BVFocus: Establish a new business modelFocus: Help exploit the latest techno-Focus: Address unsatisfied customerin an old industrylogical developments with the rightneeds and build new business modelsJean-Pierre Cuoni is chairman ofbusiness modelsaround themEFG International, a private bankDagfinn leads a business model unitMarielle Sijgers is a full-fledgedwith what may be the industry’s mostat Telenor, one of the world’s ten larg-entrepreneur. Together with herinnovative business model. Withest mobile telephone operators. Thebusiness partner, Ronald van denEFG he is profoundly transformingtelecom sector demands continuousHoff, she’s shaking up the meeting,the traditional relationships betweeninnovation, and Dagfinn’s initiativescongress, and hospitality industrybank, clients, and client relationshiphelp Telenor identify and understandwith innovative business models.managers. Envisioning, crafting, andsustainable models that exploit theLed by unsatisfied customer needs,executing an innovative businesspotential of the latest technologicalthe pair has invented new conceptsmodel in a conservative industry withdevelopments. Through deep analysissuch as Seats2meet.com, which allowsestablished players is an art, andof key industry trends, and by develop-on-the-fly booking of meetings inone that has placed EFG Internationaling and using leading-edge analyticaluntraditional locations. Together,among the fastest growing bankstools, Dagfinn’s team explores newSijgers and van den Hoff constantlyin its sector.business concepts and opportunities.play with new business model ideasand launch the most promisingconcepts as new ventures.
The InvestorThe ConsultantThe DesignerThe Conscientious EntrepreneurGert Steens, President & InvestmentBas van Oosterhout, SeniorTrish Papadakos,Iqbal Quadir, Social Entrepreneur /Analyst / Oblonski BVConsultant / Capgemini ConsultingSole Proprietor / The Institute of YouFounder of Grameen PhoneFocus: Invest in companies with theFocus: Help clients question theirFocus: Find the right business modelFocus: Bring about positive social andmost competitive business modelsbusiness models, and envision andto launch an innovative producteconomic change through innovativeGert makes a living by identifying thebuild new onesTrish is a talented young designerbusiness modelsbest business models. Investing in theBas is part of Capgemini’s Businesswho is particularly skilled at grasp-Iqbal is constantly on the lookoutwrong company with the wrong modelInnovation Team. Together withing an idea’s essence and weaving itfor innovative business models withcould cost his clients millions of euroshis clients, he is passionate aboutinto client communications. Currentlythe potential for profound socialand him his reputation. Understandingboosting performance and renewingshe’s working on one of her own ideas,impact. His transformative modelnew and innovative business modelscompetitiveness through innovation.a service that helps people who arebrought telephone service to overhas become a crucial part of his work.Business Model Innovation is now atransitioning between careers. After100 million Bangladeshis, utilizingHe goes far beyond the usual financialcore component of his work becauseweeks of in-depth research, she’s nowGrameen Bank’s microcredit network.analytics and compares businessof its high relevance to client projects.tackling the design. Trish knows she’llHe is now searching for a new modelmodels to spot strategic differencesHis aim is to inspire and assist clientshave to figure out the right businessfor bringing affordable electricity to thethat may impart a competitive edge.with new business models, frommodel to bring her service to market.poor. As the head of MIT’s LegatumGert is constantly seeking businessideation to implementation. To achieveShe understands the client-facingCenter, he promotes technologicalmodel innovations.this, Bas draws on his understandingpart — that’s what she works on dailyempowerment through innovativeof the most powerful business models,as a designer. But, since she lacks for-businesses as a path to economic andregardless of industry.mal business education, she needs thesocial development.vocabulary and tools to take on thebig picture.
DesignTable of ContentsPatternsThe book is divided into five sections: 1 The Business Model Canvas, a tool for describing, analyzing,and designing business models, 2 Business ModelCanvasPatterns, based on concepts from leading businessthinkers, 3 techniques to help you design businessmodels, 4 re-interpreting strategy through thebusiness model lens, and 5 a generic process tohelp you design innovative business models, tyingtogether all the concepts, techniques, and tools inBusiness Model Generation. }The last section offersan outlook on five business model topics for futureexploration.AfterwordFinally, the afterword provides a peekinto “the making of” Business Model Generation.outlookProcessStrategy
114CanvasDefinition of a BusinessModel256PatternsUnbundling BusinessModels3Design126 Customer Insights4Strategy200 Business Model5244 Business ModelEnvironmentDesign Process134 Ideation169 Building Blocks66The Long Tail212 Evaluating Business146 Visual Thinking44The Business ModelCanvas76Multi-Sided Platforms}Outlook262 Outlook160 Prototyping88ModelsProcessFREE as a Business Model170 Storytelling226 Business ModelPerspective on BlueOcean Strategy108 Open Business Models180 Scenarios232 Managing MultipleBusiness ModelsAfterword274 Where did this bookcome from?276 References
Can
nvas
}14Def Business ModelA business model describesthe rationale of how anorganization creates, delivers,and captures value
15The starting point for any good discussion, meeting,This concept can become a shared language thator workshop on business model innovation shouldallows you to easily describe and manipulate businessbe a shared understanding of what a business modelmodels to create new strategic alternatives. Withoutactually is. We need a business model concept thatsuch a shared language it is diΩicult to systematicallyeverybody understands: one that facilitates descrip-challenge assumptions about one’s business modeltion and discussion. We need to start from the sameand innovate successfully.point and talk about the same thing. The challenge isthat the concept must be simple, relevant, and intui-We believe a business model can best be describedtively understandable, while not oversimplifying thethrough nine basic building blocks that show thecomplexities of how enterprises function.logic of how a company intends to make money. Thenine blocks cover the four main areas of a business:In the following pages we oΩer a concept that allowscustomers, oΩer, infrastructure, and financial viability.you to describe and think through the business modelThe business model is like a blueprint for a strategyof your organization, your competitors, or any otherto be implemented through organizational structures,enterprise. This concept has been applied and testedprocesses, and systems.around the world and is already used in organizationssuch as IBM, Ericsson, Deloitte, the Public Works andGovernment Services of Canada, and many more.}
[The 9 Building BlocksCS1 CustomerSegmentsAn organization servesone or several CustomerSegments.CHVP2ValuePropositionsIt seeks to solve customerproblems and satisfycustomer needs withvalue propositions.3ChannelsValue propositionsare delivered to customersthrough communication,distribution, and salesChannels.CR4CustomerRelationshipsCustomer relationshipsare established andmaintained with eachCustomer Segment.
17R 5RevenueStreamsRevenue streams resultfrom value propositionssuccessfully oΩered tocustomers.KR6KeyResourcesKey resources are theassets required to oΩerand deliver the previouslydescribed elements KA7KeyActivities by performing a numberof Key Activities.KP8KeyPartnershipsSome activities areoutsourced and someresources are acquiredoutside the enterprise.C 9CostStructureThe business modelelements result in thecost structure.}
}18KAKey ActivitiesKPKey PartnersKRKey ResourcesC Cost Structure
19CRCustomer RelationshipsCSCustomer SegmentsVPValue PropositionsCHChannelsR Revenue Streams}
CS}120Customer SegmentsThe Customer Segments Building Block definesthe diΩerent groups of people or organizations anenterprise aims to reach and serveCustomers comprise the heart of any business model. Without(profitable) customers, no company can survive for long. In orderto better satisfy customers, a company may group them intodistinct segments with common needs, common behaviors,or other attributes. A business model may define one or severallarge or small Customer Segments. An organization must makea conscious decision about which segments to serve and whichsegments to ignore. Once this decision is made, a business modelcan be carefully designed around a strong understanding ofspecific customer needs.Customer groups represent separate segments if: Their needs require and justify a distinct oΩer They are reached through diΩerent Distribution Channels They require diΩerent types of relationships They have substantially diΩerent profitabilities They are willing to pay for diΩerent aspects of the oΩer
For whom are we creating value?Who are our most important customers?21DiversifiedAn organization with a diversified customer businessmodel serves two unrelated Customer Segmentswith very diΩerent needs and problems. For example,There are diΩerent types of Customer Segments.in 2006 Amazon.com decided to diversify its retailHere are some examples:business by selling “cloud computing” services: onlineSegmentedstorage space and on-demand server usage. ThusMass marketSome business models distinguish between marketit started catering to a totally diΩerent CustomerBusiness models focused on mass markets don’tsegments with slightly diΩerent needs and problems.Segment — Web companies — with a totally diΩerentdistinguish between diΩerent Customer Segments.The retail arm of a bank like Credit Suisse, for example,Value Proposition. The strategic rationale behind thisThe Value Propositions, Distribution Channels, andmay distinguish between a large group of customers,diversification can be found in Amazon.com’s powerfulCustomer Relationships all focus on one large groupeach possessing assets of up to U.S. 100,000, andIT infrastructure, which can be shared by its retail salesof customers with broadly similar needs and problems.a smaller group of aΩluent clients, each of whose netoperations and the new cloud computing service unit.This type of business model is often found in theworth exceeds U.S. 500,000. Both segments haveconsumer electronics sector.similar but varying needs and problems. This hasMulti-sided platforms (or multi-sided markets)implications for the other building blocks of CreditSome organizations serve two or more interdepen-Niche marketSuisse’s business model, such as the Value Proposi-dent Customer Segments. A credit card company, forBusiness models targeting niche markets cater totion, Distribution Channels, Customer Relationships,example, needs a large base of credit card holdersspecific, specialized Customer Segments. The Valueand Revenue streams. Consider Micro Precisionand a large base of merchants who accept those creditPropositions, Distribution Channels, and CustomerSystems,
You’re holding a handbook for visionaries, game changers, and challengers striving to defy outmoded business models and design tomorrow’s enterprises. It’s a book for the written by Alexander Osterwalder & Yves Pigneur co-created by An amazing crowd of 470 practitioners from 45 countries designed by Alan Smith, The Movement
For tiered bank holding companies. When bank holding companies with total consolidated assets of 500 million, or more, own or control, or are owned or controlled by, other bank holding companies (i.e., are tiered bank holding companies), only the top-tier holding company must file the FR Y-9C for the consolidated bank holding company organization
03 Financial Statements 2020 21 Heineken Holding N.V. Income Statement 21 Heineken Holding N.V. Balance Sheet 22 Heineken Holding N.V. Shareholders' equity 23 Notes to the Heineken Holding N.V. Financial Statements 25 Consolidated Income St
2015 cycle, 4 weeks after A level results For acceptances recorded as holding entry qualifications in the ABB set (93 per cent are holding A levels or BTECs): 80,590 holding GCE A levels, -240 (no change to the nearest per cent) 43,460 holding BTECs, 3,220 ( 8 per cent) 3,410 holding an International Baccalaureate, 340 ( 11 per cent)
Draw one of the following: Child in boat: (a) waving arms (b) holding an orange smoke flare with a sun (c) holding a red . hand flare with a moon/stars (d) holding a torch showing a beam (e) holding up orange sheet with a ‘V’ or (f) holding EPIRB in correct colours Pg 14 Lesson . 12 Dan
the FR Y-9SP for the top-tier parent company of the holding company. In addition, such tiered holding companies, must also submit, or have the holding company subsidiary submit, a separate FR Y-9SP for each lower-tier holding company. When a holding company that has total consolidated assets of less than 1 billion is a subsidiary of a
the FR Y-9SP for the top-tier parent company of the holding company. In addition, such tiered holding companies, must also submit, or have the holding company subsidiary submit, a separate FR Y-9SP for each lower-tier holding company. When a holding company that has total consolidated assets of less than 3 billion is a subsidiary of a
What holds the atoms together in one ammonia NH3 molecule? What is holding the H and O atoms together in water? What is holding three HCl molecules together? What is holding the ions together in salt NaCl. What is holding four H 2O molecules together. What holds nitrogen gas molecules to each other? What is holding the O 's together in an oxygen
Collectively make tawbah to Allāh S so that you may acquire falāḥ [of this world and the Hereafter]. (24:31) The one who repents also becomes the beloved of Allāh S, Âَْ Èِﺑاﻮَّﺘﻟاَّﺐُّ ßُِ çﻪَّٰﻠﻟانَّاِ Verily, Allāh S loves those who are most repenting. (2:22
