Hello class,
We covered a few topics in class today, from exploring a framework for managing innovation to an exciting and aspirational discussion on smart cities.
For today’s blog, please provide your individual perspective on the homework assignment. We will still be having the team leaders present the ideas to the group, but this is intended to get the dialogue started. As a reminder, the questions are:
- Does your new business model fit well within the company?
- Where will you locate it and what teams will you assign?
- What metrics would you suggest to measure your new business model?
Happy Halloween!
dw
Our new business model fits well within the company. We were able to get a lot of detailed feedback from Frank regarding the internal Coca-Cola structure. With that information, we improved our initial recommendations. Since our model is slightly different from other groups’ models, we believe that our model will span the entire company. This is necessary because there are many different BUs and bottlers involved throughout the external innovation process. I would suggest measuring the success rate of this online platform by following a proposed innovation from beginning to end – this way, we can see which ideas fail at what point and gain more insight.
I think that our business model is very innovative and it fits well with the vision of the company nowadays. GE is becoming much more flexible and open and I think that they would consider our proposition seriously.
To measure our business model it would be interesting to see how many people would actually subscribe (use the service), what would the break-even be and when would it be reached, as well as the satisfaction rate (do people come back?)
I think our business model though innovative and very flexible may have some slight difficulty in working with the technology sector that Fujitsu focuses on. Because Fujitsu is an IT/computing company, it is more focused in the infrastructure rather than the actual software or platform that our business model is proposing. Our business model would need to be focused outside of the company as a subsidiary that Fujitsu can support and pursue as it will leverage some of Fujitsu’s technology such as servers but be building a separate product away from Fujitsu’s core product. Possible metrics that Fujitsu can use to measure the success of our proposed platform can be simply by the number of users who are in our target audience, the number of schools that end up using this platform, the number of companies that collaborate, and the number of local businesses.
Correction: Fujitsu does have software but its software focus is not in the area that our idea is focused on.
Our new business model fits well within the company in that it is utilizing Fujitsu’s existing assets (human capital and technology infrastructure) and partnerships. In addition Fujitsu is in an excellent place to adopt this idea because a) they are a mature company therefore could use a new innovative business model to prevent them from declining and b) they have a long-standing reputation for being reliable and dependable. The issue however is that higher education is a sector Fujitsu is not familiar with (and similarly, higher education institutions are not familiar with Fujitsu) therefore adopting this new business model will require a lot of R&D as well as hiring a team of experts who can assist them.
This business model will most likely be a subsidiary of Fujitsu – a separate branch that is catered towards a younger population but powered by the mature and reliable Fujitsu. There will be numerous teams assigned to this subsidiary including those working on higher education and/or open innovation projects along with tech support, customer service, marketing, etc.
Metrics could include, as Jeffrey pointed out, the number of schools who use our platform, the number of local business and larger corporations who join the ecosystem and the amount of revenue this new business model brings in.
I believe our new business model fits and complements the company. Our model is innovative and it was a mature company needs to survive and not to decline.I think our team should be locate in the periphery of the company because it is very disruptive .The team will be light-weight team ,what means that it will have cross-functional work and not an exclusive dedication.
I would suggest do statistics as a metric in order to know how many people will have access to primary healthcare thanks to out projet.It would also be interesting to do surveys to find out what the Indian population thinks about the model and what they would change to improve it.
Our new business model fits well within the company. After speaking to Frank we were not only able to uncover the reasons behind the Coke’s hindrances, but also what he believes is the best method to tackle the current situation.
Our business model is two-fold: it features an innovation forum and a digital platform. The forum calls for a specialized team with representatives from all divisions, while the platform solicits participation from all employees. With the digital platform’s upvoting system, a particular BU can back a project so that they can become partners in the implementation process. With time, after departments constantly work closely together, stronger bonds will be built and the process will be expedited.
In order to measure our business model’s effectiveness it must be tested out from beginning (the initial posting on the platform) to end (the success rate and implementation timeline). Although some projects will be unsuccessful that may not be a direct result of the business model. One way to test the model’s efficiency is to survey employees. If employees feel that the process was expedited as a result of the innovation forum and digital platform then the business model was “successful.”
I believe our business model fits well within the company. United is a innovative and progressive company. They have developed apps in the past. They were clean and utilized Dr. Oz to stay hip to popular health celebs. The feedback on the app as to why it was not successful was that it was too buggy. Our app is hip and if we were to manage the development of the app we would be sure to test for bugs. That being said we would not develop it in-house. We would outsource to an experienced development team.
The metrics we would use to know if the business model was working would be customer retention rates. Meaning how often they visit the site. We would also like to use metrics to measure if our app is increasing revenue for our rewards partners. We will know that it is working for United if the engagement in the rewards program increases. A super bonus will be if United customers exceed the baseline of their annual health exams.
Our new business model fits well in Coke’s current state – functionally, it is nonintrusive to current business model by leveraging already-existing connections in Coke and removing siloes in BU/bottler communication channels. The online platform & innovation forum would reside with the ETA (Coke’s “innovation” team), but have spokes extending to all parties involved with the product development process.
Measuring our new business model’s success will differ depending on the segment we’re examining in Coke’s innovation process. For example, metrics to consider for our online platform would be focused on users & content (i.e. # of needs created, # of platform users, frequency of platform usage, sentiment of new users, etc), while metrics to consider for our innovation forum would be focused on participation rates and # of new project initiatives. For technology adoption as a whole, we’ll examine how our business model affects the technology adoption cycle (is it shortened?) and revenue streams from impacted product lines.
Our new business model fits well within the Fujitsu’s current mission and business model. Fujitsu has never stopped innovating, and higher education market is one of their future plans to crack on. Our business model fits well because we are utilizing a lot of resources provided by Fujitsu, e.g. technical experts, human resources and etc. And we also are maintaining the brand in a certain way. Fujitsu has been around for 70-80 years and the company kept innovating and has a reputation for reliability. One of the selling point for us is that we want our student platform to be reliable and doesn’t crush. We will location the new business model in United States, and focusing on higher education but leaves a percent for K12 students. We will be able to assign Fujitsu’s open innovation team, education team and many other teams that are working on education to form an efficient team to working together.
And in terms of metrics to measure our success, I think the revenues are the most important one. However, the new business model not only creates financial revenues, but also creates value as it connects all college students and help them grow. So we also need to focus on the soft side, such as graduation success rate, etc.
Our new business model fits well within the company. After talking with Darmesh and doing researches on the company, our business model that focuses on enhancing patient experience matches with J&J’s goal of engaging patients in order for patients to fully experience the extent of its products and services. Our umbrella platform would complement nicely with J&J’s traditional business model, supporting J&J with revenue capture that is sustainable as we aim to create a healthcare ecosystem that entails and benefits every player and contributor in the industry.
Our project would be under J&J as a separate team. Our team will be collaborating alot with J&J’s innovation center and R&D department. We will have platform developers, data analysts and community managers to keep the platform running. We will also partner up with several key players in the industry.
The short-term success of our platform would be measured by the amount of active users that utilize our platform. In the long-term, we hope that these users would become revenue generators for J&J, as they would be actively looking for recommendations and J&J’s products and services.
Our business fits well within the company. We are creating a patient engagement platform that aims to provide a better experience for patients, which will leads to better quantity and quality of sales of healthcare products and services. Therefore, all the companies under J&J will benefit from our platform. In addition, the whole healthcare ecosystem will benefit from our business model.
Our platform will be an individual platform under J&J and it will have marketing, HR, administration, engineering, finance, community management, content analysis teams. Some of the human capital will directly come for J&J and some will be recruited externally.
The metrics that can be used to measure our business model include user acquisition and engagement rate. In the long-term, we will look at revenue generation as well as its contribution to J&J R&D and new product development.
I believe that our asset light business model fits well within GE, especially in fulfilling its healthymagination goals. Our innovative idea on improving health care in India by utilizing its arteries and veins (the Indian Railway System) will enable GE to serve more people through its “In-India, For-India” diagnostic units. The success of our project depends on GE’s partners to make our portable shipping container clinic feasible. Since our idea is very disruptive, we will needs a small yet heavyweight GE team whose sole priority is the success of our project. The GE team will be highly influential in managing all of the partners invested in the business model as well as ensuring that GE is developing the machines that will be the most beneficial in treating rural Indians. To best measure our business model’s effectiveness, our project should be implemented in several phases. For instance, if we were to launch a pilot program during Phase 1, our success would be measured by the number of people we served out of our potential market and the number of patients who sought a follow up appointment at either our clinic or one of our partnered medical centers.
I believe that only some parts of our business model may fit well in our company’s existing infrastructure, but a lot of the segments may new to begin from scratch or brought in externally through partnerships or acquisitions. This is due to the current lack of expertise in city building and autodesk 3D modelling software within Wipro.
However, Wipro’s current human capital resources in skilled and cheap developers in India means that they will hopefully be able to quickly learn the new softwares, and integrate this new technology into the company. That is way I would locate the majority of the teams in India, so to enjoy the benefit of lower cost.
There are several metrics I would use the measure the success of the business model. First, the number of partners and companies which uses the platform that Wipro creates, as a measure of adoption rate. Second, that cost savings that our platform can provide to a Smart City, through our data analysis. Finally, the total licensing fees that are generated, which is our revenue stream.
Yes, Healthy Rewards fit well into United Health’s existing business model. From our research and interaction with Steve, CTO of Optum, innovation is deeply embedded into United Healthcare’s DNA; it’s both in their discipline and vision. It has helped them unlock the future of health care time and again serving their customers in exceptional ways.
Yes, metrics are extremely important to the social giving network we’re building, or any type of social network or business for that matter. It’s important because we can’t improve what we don’t measure. The metrics we will track will fall in the following 4 general categories. I’ve added some metrics for each category.
1. Acquisition – # of downloads, # of completed profiles
2. Engagement – # of photos posted, # of statuses posted, # of rewards shared
3. Retention – # of times app opened in 3 days, 7 days, 3 days
4. Monetization – average revenue per customer, lifetime value per customer, average revenue per healthy rewards partners