Best Educational Innovation 2016

Business Model Innovation

Business Model Innovation

Summary

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During the course Business Model Innovation (BMI), students develop a new creative and suitable business model for a real life company, and manage the consequences for its various stakeholders.

The course Business Model Innovation is developed for students to prepare them for the business challenges ahead of them in their future careers. It is based on the existing strategy of the case company, and is supported by both market and financial feasibility.

The course accommodates both the needs of students as well as the aims of the hospitality industry. By working on a real-life case for a company; the students are offered a unique chance to develop business models, whilst the case companies are presented with inspirational, vibrant, new ideas.

Innovation Description

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Key elements of the BMI course

• By solving a real-life assignment the students gain insight in the industry and the issues the industry deals with

• Students learn how to think on a different, strategic level, preparing them for a career as innovative leader

• BMI is a project-based course that comprise the execution of complex real-life professional duties in a particular setting and organisational context. Students will learn to develop and apply one or several working models based on solid theories, which will lead to learning a set of cognitive skills such as knowledge comprehension and evaluation

• Students will interact with the case company, giving them valuable network opportunities

• This course provides a great opportunity for students to present themselves to a case company

Innovation Description

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Learning Goals

At the end of the course, students are able to;

• Design a business model innovation for a hospitality company

• Explain and apply the different phases of the innovation process

• Create prototypes of innovations by using creative and design thinking

• Extend and transform the business model innovation into a worked-out business case that includes:

• a market feasibility study to test the innovation prototype

• a financial feasibility to assess the financial risks and opportunities of the innovation

• a stakeholders analysis

• a worked out plan that addresses the tactical and important operational issues to consider when implementing the innovation

Innovation Description

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Introduction of initiative

The course has been introduced in 2012, starting with one group. Now, in 2016 the course is part of the curriculum in the final phase of the bachelor programme.

Reasons for introduction

• To instill a business mindset and understand value creation

• To provide the students with the ability to think holistically about how to innovate a business: create, deliver and capture value for customers and the company

• To understand the power of (customer centric)innovation and breaking free of the status quo

• To think commercially about creative ideas and what it needs to turn a BM innovation into a success

Innovation Description

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Target groups

The course Business Model Innovation is developed for students to prepare them for the business challenges ahead of them in their future careers.

The course accommodates both the needs of students as well as the aims of the hospitality industry. By working on a real-life case for a company; the students are offered a unique chance to develop business models, whilst the case companies are presented with inspirational, vibrant, new ideas.

Communication & Implementation

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Budget

The development of the course was part of the curriculum and therefore no extra cost have been made.

Applicability to other hospitality schools

The Business Model Innovation course is suited to be integratedin the curricula of other Hotel Schools. This course offers a unique opportunity for students to apply all their previouslearning to a real company.

Conception

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Involvement Partners

The course has been developed in close cooperation with the producers of the book “Business Model Generation”, A. Osterwalder & Y. Pigneur. The course follows the trends in business; • Disruptive business models• Increasing complexity of modern business• Change being the only constant factor

Involvement Industry

During this course students will be in contact with different experts who

will provide important information:1. Case company: The management of the case company will

provide the student with basic information related to the assignment and will participate in the prototype presentations and the final defense.

2. Experts: Industry professionals (from within and outside Hotelschool The Hague) will share expert information during master classes or guest lectures

Involvement Industry - Case Companies

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Examples of assignments

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Starwood

“How might Starwood best innovate its future F&B business model in order to gain competitive advantage and create value for all stakeholders?”

Hilton

“Which business model innovation is needed for Hilton to create a stronger online positioning and presence which will generate more (direct) bookings (transient and group, conference & events) whilst building customer engagement and relationships"

Main innovative aspects

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• The course Business Model Innovation (BMI) allows students to develop a new creative and suitable business model for a real life case company, and manage the consequences for its various stakeholders

• By solving a real-life assignment the students gain insight in

the industry and the issues the industry deals with

• BMI is a project-based course that comprise the execution of

complex real-life professional duties in a particular setting

and organisational context

Tools

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Guidance

1. Lecturers: The lecturers from the Hotelschool will support the students during several workshops in making the best possible innovation of the business model for the case company

2. Coaches: One lecturer at the Hotelschool will be assigned as the team coach. In this role he/she will assist the team throughout the course.

The course uses the following model

• Business Model Canvas

This is a strategic management and entrepreneurial tool. It offers the possibilities to describe, design, challenge, invent, and pivot the business model.

Assessment Industry Partners

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The industry partners are enthusiastic about being involved with the learning process of the young new hospitality managers.

“In working with these students and the team of lecturers I have gained unexpected additional value. The expected value add for us was delivered; we were presented with some great business models. The additional value lays in witnessing the inspiration, enthusiasm, the drive of these young, vibrant students. These students are the future of the disruptive business models”

Starwood

“The presentations by the students genuinely impressed me. They showed their understanding of the our business, they addressed our challenges. They presented interesting, innovative business models.”

Hilton

High Profile presentation

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• Case June 2016: “Develop a hospitality concept based on the talents and skills of refugees”

• Five students presented their hospitality concept for refugees to Dutch Prime Minister Mark Rutte. Their concept was chosen as best out of twelve other participating concepts

• The winning concept ‘Ivy Stay and Farm’ is a sustainable farm that mixes an Eko-Hotel with educational workshops for refugees. It provides refugees with a place to work, which brings them in contact with the locals and at the same time helps them to support the local community. The refugees will also learn new skills which they can take back when they move back to their home country

Assessments Lecturers & Students

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Every course is assessed by both the lecturers, and students:

– The students find the course challenging. It takes them out of their comfort zone and pushes them to apply all previous learnings

– The lecturers can witness the growth of the students during the course

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“This course not only prepares our students for a career as a leader at a leading hospitality company, it ensures they will be of great importance for a company, as they know how to innovate and to continuously work on improving existing processes, to ensure their company keeps growing.”

Annemieke de Korte

Lecturer Business Model Innovation

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“I thoroughly enjoyed being challenged by this course, through innovative thinking. It provided me with additional business insights through a real live case, which I put into practise within my own company, being a student entrepreneur”

Christiaan Veldhuizen

Student

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“The process of understanding the business’s core competencies and value proposition as well as the customer’s needs, followed by the design stage of innovative ideas and eventually the presentation to the case company made the course very valuable.”

Antonia Becker

Student

April 2016 19