Business Model Innovation often happens in response to external opportunities or threats. In this lecture, we will zoom in on the environmental context that shapes strategic action. We will discuss megatrends and grand challenges, and the opportunities they offer for Business Model Innovation.

Learning Goals

After attending this lecture, you should be able to…

• Identify megatrends and grand challenges relevant for business model innovation
• Compare trends and challenges and describe their opportunities and threats
• Understand the role of organizations in relation to grand challenges and trends

Required Readings

1. Snihur, Y., & Bocken, N. (2022). A call for action: The impact of business model innovation on business ecosystems, society and planet. Long Range Planning, 102182. https://doi.org/10/gn8dp3
2. Jacobides, M. G., & Reeves, M. (2020). Adapt your business to the new reality. Harvard Business Review, 98(5), 74–81.
3. Cramer T., P. van der Duin & C. Heselmans (2016) Trend Analysis, In: P. van der Duin (ed) Foresight in Organizations - Methods and Tools: 40-58 https://doi.org/10.4324/9781315728513

Complementary Readings

1. George, G., Howard-Grenville, J., Joshi, A., & Tihanyi, L. (2016). Understanding and tackling societal grand challenges through management research. Academy of Management Journal, 59(6), 1880–1895. https://doi.org/10.5465/amj.2016.4007

The Course

This lecture is part of the Business Model Innovation course at the Radboud University Nijmegen. In an increasingly interconnected world, organizations are confronted with unprecedented levels of turbulence, uncertainty, and complexity. Global trends such as rapid urbanization, climate change, global economic power shifts, digitalization influence the effectiveness and efficiency of existing business models. To ensure future competitive success, organizations must rethink the way they create, deliver, and capture value. This course teaches students how to redesign an organization’s business model and make it future-proof.