STRATEGY & INNOVATION
BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
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In Business Model Innovation in the Digital Age, you will:
• Uncover within your organization currently unidentified ways to dramatically
Overview improve profitability and productivity
• Improve your ability to get organizational buy-in and execute on new business
models
• Conduct an audit of your current business model and generate ideas for
Companies today—no matter their size, history,
innovations
or industry—are constantly looking over their
shoulder. Facing hyper-competition and increasing • Learn a systematic framework for evaluating, experimenting with, and
demands for growth, they see innovation as their prototyping your ideas
best hope, typically focusing on new products, • Develop defense mechanisms beyond intellectual property protection
services, and technologies. But the cost of those
• Master a framework for driving and managing innovative change in your firm
innovations is significant, in terms of money,
time, and risk. What these companies are missing
is a systematic framework for creating and
Session topics include:
implementing profit-generating ideas that leverage
existing products, markets, and infrastructure. • The Imperative of Business Model Innovation in the Age of Digital Disruption
That opportunity can be seized by innovating your • Navigating Digital Disruption
business model. Less risky and less costly than • Transforming Around Big Data and AI
other forms of innovation, it can also add powerful
• Lean Development and Discovery-Driven Planning
competitive advantages. Success, though, requires
a structured process that eliminates guesswork • Business Model Innovation in Large Organizations
and subjectivity and can be duplicated across • The Risk Driven Business Model Approach
all areas of the organization. Business Model
• Leading and Managing Innovative Change
Innovation in the Digital Age enables business
leaders to learn and adopt this process—and • Platform Ecosystems: Strategies that Leverage Networks
uncover potential innovations that range from • Opportunities & Challenges of Digital Transformation
simple but highly effective adjustments to
industry-disrupting changes that are difficult or
even impossible to copy.
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BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
Highlights and Business Model Innovation in the Digital Age provides a systematic framework that
relies on practical management rather than startup agility or luck. You will begin
Key Outcomes
applying this framework to your own business during the program, conducting
an audit of your current models and identifying areas for potential innovations.
You will also learn a process for experimentation that addresses weaknesses in
proposed business models and experiment with those models to quantify their
value and viability. Working in small groups, you will apply class learnings to a
Most organizations systematically and rigorously
real company.
maintain and monitor key metrics such as
quarterly financial statements, productivity levels, Because the critical last step in the process is implementation, you will be
and market position. But they rarely evaluate immersed in a half-day simulation on change leadership, strengthening your ability
their business models as thoroughly, leaving the to get buy-in and drive change in your organization. You and your team will act as
opportunity to modify and even transform these consultants to a company going through a change effort, working to successfully
models untapped. Business Model Innovation in the sell that effort to those in the organization. This powerful learning experience, a
Digital Age helps participants unlock this potential highlight of the program, allows you to apply new approaches, learn from real-
by developing a process for innovation that can be time feedback, and hone your skills.
managed and turned into a driver of growth.
Led by Professor Serguei Netessine, a global thought leader in business model
Unlike innovation that involves the creation of innovation, the program also leverages the expertise of other Wharton faculty
new products, services, or technologies, this who specialize in big data, artificial intelligence, business ecosystems, and digital
brand of business model innovation can come disruption. In addition, successful business model innovators will share their
from anywhere in the company. It requires fewer experience and insights with participants in two highly interactive sessions. By the
resources and less time to implement, and can end of the program, you will have the tools and skills needed to create value in
result in innovations that are far more profitable your organization and to better position it in your market and industry.
and transformative than product- or technology-
driven ones.
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BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
Participant Profile
This program is designed for executives who are
experiencing significant changes in their markets,
anticipating more nimble and robust competition,
and/or facing profit margins that are under
pressure. The curriculum is particularly relevant for
business unit leaders who have been tasked with
finding new avenues for growth within an existing
Job titles may include:
product line, service, or geographic territory.
C-suite-level executives, and board members • CEO, COO, CMO, CIO, CTO
seeking to maintain their organizations’ relevance • Managing Director, Regional Director, Country Manager
and standing in their industry will also benefit.
• Senior Vice President, Vice President
Because business model innovation requires input from • Director of Business Development
a diverse set of cross-functional leaders, we encourage
• Innovation, R&D Manager
companies to send teams of executives to Wharton.
We offer group enrollment benefits to companies
sending four or more participants.
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BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
Faculty ADDITIONAL FACULTY
Saikat Chaudhuri
Adjunct Associate Professor of Management;
Serguei Netessine, PhD Executive Director, Mack Institute for Innovation
Management, The Wharton School
Academic Director
Dhirubhai Ambani Professor of Innovation Eric K. Clemons
and Entrepreneurship; Professor of Professor of Operations, Information, and
Decisions, Professor of Management,
Operations, Information, and Decisions;
The Wharton School
Departmental PhD Program Coordinator; Vice
Dean, Global Initiatives, The Wharton School Kartik Hosanagar
John C. Hower Professor; Professor of Operations,
Serguei Netessine is the Dhirubhai Ambani He received BS/MS degrees in Computer Information, and Decisions, The Wharton School
Professor of Innovation and Entrepreneurship; Science and Electrical Engineering from Rahul Kapoor
professor of Operations, Information and Moscow Institute of Electronic Technology Associate Professor of Management,
The Wharton School
Decisions; and vice dean for Global Initiatives and MS/PhD degrees in Operations
at the Wharton School of the University Management from the University of Nancy Rothbard
David Pottruck Professor; Professor of
of Pennsylvania. He was previously the Rochester. Management; Chairperson, Management
Timken Professor of Global Technology and Department, The Wharton School
Innovation at INSEAD. Scott Snyder
Senior Fellow, Mack Institute for Innovation
His current research focuses on business Management, The Wharton School;
Partner, Heidrick & Struggles
model innovation and operational excellence,
and he has worked with numerous
organizations including the Federal Aviation
Administration (U.S.), Lockheed Martin,
Procter & Gamble, Rolls-Royce, Comcast,
Sberbank, Temasek, Keppel, ABB, and the
U.S. Air Force. He is an angel investor in
technology startups and serves on advisory
boards of multiple ventures.
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BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
Session Highlights NAVIGATING DIGITAL DISRUPTION
Today’s firms need to continuously
Discussions will focus on the disciplined
approach of reframing, recognizing, and
navigate rapid changes in both responding to patterns that can lead to a
technologies and business models. Digital sustainable competitive advantage in the
transformation presents opportunities age of digital transformation.
PLATFORM ECOSYSTEMS The proliferation of
but also challenges across industries, and
digital technologies has been associated with a THE IMPERATIVE OF BUSINESS MODEL
established companies must understand
significant shift from product-based to platform- INNOVATION IN THE AGE OF DIGITAL
how to defend themselves as well as
based business models, and the disruption DISRUPTION AND THE LANGUAGE OF
adapt in order to flourish. This session
of several major industries. The two types of BUSINESS MODELS Innovation is at the
will discuss strategies to manage digital
business models have significantly different heart of entrepreneurial success and
disruption and ensure greater innovation
drivers of value and vectors of strategic choices. transformational growth. Conventional
success rates.
We will draw on recent research in strategy to strategies for innovation are typically
explore how firms can navigate these platform NEW PATTERNS OF POWER AND based on product Innovation—designing
ecosystems and manage the tension between PROFIT: A STRATEGIST’S GUIDE TO new products or services that address
value creation and value capture. COMPETITIVE ADVANTAGE IN THE unmet market needs or leverage new
AGE OF DIGITAL TRANSFORMATION technology to satisfy existing market
TRANSFORMING AROUND BIG DATA AND
Much of strategic management involves needs. This session introduces an
AI This session will provide an overview of
recognizing the ways in which a new alternative, novel method for innovation.
big data, AI, and predictive analytics. We will
problem fits into, matches, and differs Business Model Innovation relies on
then explore how these technologies can
from an existing framework. Although, delivering existing products and services
help transform business processes and confer
digital transformation has disrupted to existing customers with innovative
strategic advantages to early adopters. We will
our familiar set of patterns, a new set, operating models. This session explores
also discuss why some of the early corporate
greatly facilitates the development of the Business Model and examines a set
AI initiatives such as chatbots have failed.
information-based strategies. Some of pioneering companies whose new
Multiple case studies will help unravel both the
of these patterns represent only slight Business Models that have revolutionized
challenges and opportunities from big data.
modifications; Uber’s strategy in ride- how their industries do business. We
hailing replicates Capital One’s in banking. will discuss comparative advantages and
Others are almost unprecedented, disadvantages of different innovation
such as Google’s domination of online approaches and what it takes to
gateways. This session provides a firm implement Business Model Innovation
understanding of the power of these new in a company.
patterns and develops skills for rapid
strategic analysis and decision making.
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BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
LEAN DEVELOPMENT AND LEADING CHANGE (LECTURE/
Session Highlights DISCOVERY-DRIVEN PLANNING:
THE BETTER PLACE CASE
SIMULATION) Although the ability to
lead and manage change is critical to
Creation of a new business model is organizational success and survival,
an inherently uncertain process, where most changes fall short of achieving
THE RISK-DRIVEN BUSINESS MODEL APPROACH
careful forecasting and planning should their intended results. It is not surprising,
Business Model Innovation can be a relatively give way to cleverly designed experiments then, that change continues to frustrate
inexpensive way to gain a competitive edge meant to test hypotheses of the model. leaders. The session is organized around
without making the significant resource Fortunately, new business models lend an experiential change management
investment often associated with innovation themselves naturally to experimentation, simulation that has been used with
using new products or technologies, requiring which is often harder and more expensive Fortune 500 executives, U.S. military
large R&D budgets. Some of the most to do with novel technologies. This generals, and MBA students. The
sustainable types of Business Model Innovation session uses the case study of a simulation provides the opportunity to
are obtained by addressing and managing notable electric vehicle startup to test your intuitions, identify strengths,
risks. Any business can benefit from a Business discuss how lean development could discover vulnerabilities, and master a
Model Audit aimed at identifying two types of have achieved a better outcome, and framework for leading change more
risks: information risks and incentive-alignment focuses on creating an organization effectively.
risk. By taking steps to identify and manage that is naturally predisposed toward
After this session, you should be able to:
these risks, businesses can improve efficiency discovery-driven planning.
• Implement key steps for managing
and drastically increase returns. This session change, including understanding,
demonstrates how assessing the existing enlisting, visioning, motivating,
business model against the Business Model communicating, and consolidating
Innovation Matrix in a programmatic way can
• Conduct a systematic analysis of
offer almost any business ways to innovate its
sources of resistance and support
business model.
• Assemble a core change team and
establish a sense of urgency
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BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
plan your
stay with us
Most Wharton Executive Education programs are
offered on the University of Pennsylvania campus in
Philadelphia. Located between New York City and
Washington D.C., Philadelphia is easily accessible from
most major cities around the world.
HOTEL ACCOMMODATIONS
Your Philadelphia program fee includes hotel
Wharton staff took a lot of accommodations. Most participants stay at the
the stress out of the logistical Steinberg Conference Center, a 103-room full-service
hotel and classroom facility on Penn’s campus. There
concerns so I could really
are also several other hotels available nearby, including
focus on absorbing the course the Hilton Inn at Penn.
content.”
— Megan K., MEALS DURING YOUR STAY
Energy industry executive The majority of your meals are served in the Steinberg
Conference Center and are included in your program
fee. With advance notice, we can accommodate special
dietary needs.
HISTORIC AND CULTURAL HUB
A historic and cultural powerhouse, Philadelphia offers
numerous tourist attractions, including the
Independence National Historical Park, the National
Constitution Center, the Philadelphia Museum of Art,
and the Barnes Foundation.
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learn more and tour campus: BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
YourWhartonExperience.com
Sample Program Schedule* BUSINESS MODEL INNOVATION
IN THE DIGITAL AGE
DAY 1 DAY 2 DAY 3 DAY 4 DAY 5
BREAKFAST
Program Introduction New Patterns of Power Transforming Around Big Platform Ecosystems: Business Model Innovation
and Profit: A Strategist’s Data and AI Strategies that through Corporate Startup
Guide to Competitive Leverage Networks Engagement
Advantage in the Age of
The Imperative of Business Digital Transformation
Model Innovation in the Age
of Digital Disruption
The Language of Business Program Wrap-Up: Highlights
Models and Next Steps
LUNCH OPTIONAL LUNCH
The Risk-Driven Business Navigating Digital Disruption Leading and Managing Lean Development and
Model Approach Innovative Change Discovery-Driven Planning
Business Model Innovation in Group Case Work
Large Organizations:
Guest Speaker
Integration and Reflection
reception
DINNER GRADUATION DINNER
n Executive Event n Lecture n Simulation
SCHEDULE A CONSULTATION:
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*Program start and end times are subject to change.
Please DO NOT make travel arrangements based on this agenda.
Visit our website for more information on fees and upcoming dates. Click here » CP-BMID-0919
