Business modeling has been reshaped over the past decades. As the world is becoming more and more business oriented and innovations are emerging, the business model is taking an important place in many activities. An innovation needs a business model to ensure its success. A business model defines the manner by which the value is delivered to the customers by an industry, a company or an activity. It also shows the other parties that constitute the value network (shareholders, business partners) and outlines the architecture of revenues, costs and profits associated with the activity providing this value. According to the specificity of the environment for which a business mode is built, some tools and methods are used such as business model Canvas, the value network analysis, the game theory, the competitive analysis based on Porter five forces and forecasting methods.
JCP-Connect developed business modeling activities consisting of:
- Market study: the global business environment in which the innovation is addressed, the business ecosystem is analyzed: the current actors and their strategies are identified.
- The value proposition examination: what is the issue solved by the new activity and what are the benefits?
- The study of the new environment that the innovation can create: identification of the new actors, news products and services.
- The analysis of the relationships between the actors.
- The proposition of the applicable business models to monetize/value the innovation.
- The market assessment: how big is the market for the new activity?