Courses

Technology innovation creates enormous value and brings to life entirely new industries and professions. Nevertheless, original innovators (both individuals and companies) often fail. To become successful, equal—if not more—attention must be paid to designing a strong business model. This means considering what business or consumer needs the innovation can serve and creating a clear path for monetizing, producing, distributing, pricing, and servicing. Successful companies must be able to scale up, achieve a dominating market position, and be ready to pivot as technologies and consumer needs evolve.

This course will examine how innovations in health tracking, AI and machine learning, distribution services, fintech, and more have succeeded or failed based on the strength and adaptability of their company’s business models. We will delve into case studies of Nvidia, Microsoft, and Pfizer—companies that successfully shifted focus to stay competitive, as Netflix did in moving from DVD distribution to digital streaming to producing original content. Furthermore, we will consider the potential impact of AI technologies on internet platforms and their business models of the future. We will also look at how companies like OpenAI, Google, and Apple provide “sandboxes” for their teams to pilot-test new ideas and business possibilities before scaling them up. Students will use brainstorming and business game exercises to create and test out new ideas and will apply lessons learned to design their own business models. The goal of the course is to learn by doing and to broaden students’ understanding of business model innovation.