The elements of business models - part 1

In this lesson

1. 0:00 Business model fundamentals and definition
2. 0:36 How business models create value
3. 2:10 Value creation in ecosystems
4. 4:22 Four stages of value creation cycle
5. 5:17 Defining value and customer needs
6. 7:06 Customer-centric approach to value definition

About this lesson

You'll discover the four-stage value creation cycle: defining value, creating value, delivering value, and capturing value. This is essential for Strategic Management papers and real-world business strategy, where understanding how to align your organisation's offerings with what customers genuinely need—rather than pushing products onto them—is the difference between sustainable success and wasted effort. The lesson emphasises a crucial shift in modern business thinking: moving from a purely shareholder-focused view to a more holistic ecosystem approach where value creation benefits all participants. You'll learn why starting with customer needs, preferences, and values—then working backwards to define what you actually offer—is far more effective than the reverse. This customer-centric foundation ensures your business model remains aligned with real demand and market expectations. The video also introduces how business models have become standard practice in organisational reporting, helping boards communicate strategic direction clearly and consistently.

Duration: 9m