The new academic year has started for quite some time now, which meant that it was time for the first meeting of the Business Administration Alumni Network. Dr. Armand Smits was invited to tell a very involved group his perspective on business models, and the future of business models.
During the lecture, a mix of topics was covered on the basis of his own research over the past few years. Participants got to enjoy a brief historical perspective on business models archetypes and frameworks, after which the discussion mainly went towards the future of business models.
Historically, business models were all about the value proposition and creation of economic value. Nowadays, values as sustainability, circularity and inclusivity are becoming part of the business model of an organization, requiring business model innovation. Research shows that ‘experimenting & learning’ is an important feature of this innovation process, and that this learning process can take place in several ways. Leaping and Drifting were identified as the most important ways of organizational learning in the context of business model innovation. Both of these processes use cognitive and experience-based learning, but in different settings. The discussion that followed after these insights, and several more papers, went on about these topics as participants discussed how organizations can translate and implement these findings. Participants helped each other to understand the tons of information by proposing multiple examples, mostly from their own experiences.
The evening was finished with a barbecue at the culture café, where participants shared experiences in smaller groups and enjoyed a well-deserved meal. Many thanks to Dr. Armand Smits for sharing his valuable insights on the topics of business models and business model innovation. We hope to see you all at the New Year Drink that will take place in January, where all teachers, alumni and master students are invited to celebrate the start of 2022. More information will follow soon through e-mail or our social media channels!