2. Youth Entrepreneurship: The Business Model

This course contains lessons on the Business Model and its components, namely, Value Proposition, Value Chain Structure, Profitability Model, and Social and Ecological Sensitivity. The next course in this series is 3. Youth Entrepreneurship: Leadership Skills.

2. Youth Entrepreneurship: The Business Model course content

Lesson 1- The Idea

With this lesson, we move towards the Business Model Creation component of the course. Here, we discuss the element of the 'Idea' in the business model.

Lesson Excerpts

Business Model Creation

Entrepreneurs should be able to... Recognize market opportunities Develop new business ideas and adapt business models Implement new business ideas and models Thus, 'Ideas' form a central building block for any entrepreneur and his/ her business endeavors.

Business Ideas and Their Development In the inception of a business model, the idea forms the basis. This idea can be developed internally or externally. The next figure shows different forms and types ideas can take!

There are many types of business ideas for a new product, a new manufacturing method, or new resource, that are an adaptation or a transformation of something which already exists. A business idea does not necessarily mean a new invention. New ideas are the driving force behind our economy and our society.

Lesson 2- The Business Model: Value Proposition

This is the first lesson on the Business Model. In this, we learn about the Business Model framework, and its first two components.

Lesson Excerpts

THE BUSINESS MODEL

The Business Model

Components of a Business Model

Value Proposition What is the value of my business to customers and partners?

Lesson 2- The Business Model: Value Proposition

What is Value Proposition?

Let's hear from a young entrepreneur, Samaira

Lesson 3- The Business Model: Value Chain Structure

This is the first lesson on the Business Model. In this, we learn about the Business Model framework, and its first two components.

Lesson Excerpts

Components of a Business Model

Value Chain Structure How do we identify values for customers? How and by whom will the service be provided?

Lesson 3- The Business Model: Value Chain Structure

Recommendations for Value Chain Structure: Think about alternatives: There are many ways to implement an idea, keep your mind flexible and open to different alternatives. Questions to consider: Basic function of the idea, past implementations, opportunities for innovation etc. Strategic dimension: A strategy is a model of planned behaviour in which a company can achieve its goal. Analyze the components : Think about which key activity of the business should be implemented within the company and which should be outsourced. Think of how the business can be expanded (by growing ouput and number of clients served)

Lesson 4- The Business Model: Profitability Model

This is the second lesson on the Business Model. In this, we learn about the third component of the traditional Business Model, and the framework of the Sustainable Business Model.

Lesson Excerpts

THE BUSINESS MODEL Components of a Business Model

Profitability Model How does the company generate income?

Lesson 4- The Business Model: Profitability Model

Now let's hear from Madhavi Shankar, a youth entrepreneur

Lesson 5- The Sustainable Business Model

This is the second lesson on the Business Model. In this, we learn about the third component of the traditional Business Model, and the framework of the Sustainable Business Model.

Lesson Excerpts

THE SUSTAINABLE BUSINESS MODEL

Now let's revise... What are the components of a Sustainable Business Model?

What does a Sustainable Business Model invole? It involves the question: What is the future direction of the business model? The answer to this relies on the inclusion of social and ecological values. It includes a sustainable business strategy which seeks social and ecological harmony between customers, partners and employees. It also demonstrates how the company controls the use of resources and the elimination of components that are hazardous to health and the environment.

Now let's hear from Siya Tayal, a youth entrepreneur