Course Overview
Domain
Business, Communication and Design
Format
Short Course
Duration
1 day
Fee Subsidy
Up to 90% SF Funding
This one-day course is designed to equip learners with a hands-on learning experience, focusing on the development and validation of robust business models through the analysis of local SME cases.
The course will go through real-world case studies, which aim to deepen learners' understanding of key concepts and demonstrate practical applications. Through this, learners are able to illustrate how they can create their own business models using the business model canvas.
Next, learners will expand on the business models that they have crafted. They will delve into the framework for business model innovation, exploring ways to reinvent and improve how their businesses create, deliver, and capture value. This process is essential for adapting to evolving customer needs and staying competitive in dynamic markets.
In the final segment, learners will engage in discussions covering various scenarios and patterns already implemented by businesses to shift their business models. This interactive session facilitates the exploration of new value creation opportunities for their customers.
Overall, this course offers a holistic journey from understanding foundational concepts to practical implementation and strategic adaptation in the dynamic business landscape.
Who Should Attend
-
Senior executives, R&D leaders, programme managers, and professionals responsible for innovation and transformation within their SME organisation
What You Will Learn
The course is organised into four key modules, each addressing essential questions that assist companies in staying competitive and relevant:
Defining the Concept of a Business Model
- What is a business model?
- Learn how to design a business model with the business model canvas framework
Exploring the Process of Designing a Resilient Business Model
- Why business model innovation?
- Case study: Innovating Singapore’s Chicken Rice
Understanding the Significance of Business Model Innovation
- What are the opportunities to create, deliver, and capture value?
- Activity: Learners to share examples of their potential business innovation initiative
Transitioning from Business Model Innovation to Executing a Business Model Shift
- Business Model Shifts
- Industry patterns on business model shifts
- Activity: Learners to share opportunities for new value creation for their customers
Teaching Team
Lim Chon Phung
Adjunct Associate Professor, Business, Communication and Design, Singapore Institute of Technology
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Schedule
| Course Run | Dates | Time |
|---|---|---|
| July 2024 Run | 20 July 2024 | 9:00 am – 6:00 pm |
| October 2024 Run | 12 October 2024 | 9:00 am – 6:00 pm |
| Time | Activity |
|---|---|
| 9:00 am – 9:30 am | Introduction and Learning Objectives |
| 9:30 am – 10:00 am | What is a Business Model? |
| 10:00 am – 10:45 am | Activity: Designing your Company’s Business Model |
| 11:00 am – 12:30 pm |
Why Business Model Innovation? Case Study: Lao Hung Jia (LHJ) Chicken Rice |
| 1:30 am – 2:15 pm |
Case Study discussion on LHJ Chicken Rice |
| 2:15 pm – 2:45 pm | What and Why Business Model Shifts? |
| 3:00 pm – 4:00 pm | Industry Patterns of Business Model Shifts |
| 4:00 pm – 5:00 pm | Activity: Implementing Business Model Shifts |
| 5:00 pm – 6:00 pm | Assessment |
Certificate and Assessment
A Certificate of Participation will be issued to participants who:
- Attend at least 75% of the course
- Undertake and pass non-credit bearing assessment during the course
Fee Structure
The full fee for this course is S$1,090.00.
| Category | After SF Funding |
|---|---|
| Singapore Citizen (Below 40) | S$327.00 |
| Singapore Citizen (40 & Above) | S$127.00 |
| Singapore PR / LTVP+ Holder | S$327.00 |
| Non-Singapore Citizen | S$1,090.00 (No Funding) |
Note: All fees above include GST. GST applies to individuals and Singapore-registered companies.
Course Runs
SIT Innovation Leadership Programme (ILP)
This course is part of the SIT Innovation Leadership Programme (ILP).
- Accelerating Open Innovation Adoption in SMEs
- Rethinking Your Business – Business Model Innovation and Business Model Shift
- Innovative Mindset Mastery for SME Leaders
- Navigating Innovation in SMEs: Mastering the Art of Change Management (ILP)
- Leading Open Innovation – Develop Your Social Network and Capital
These structured short courses aim to assist learners in cultivating a culture of innovation. Through these courses, it facilitates learners to learn from successful open innovation models, execute market-driven projects with professional guidance, and leverage diverse ecosystem partners' expertise and resources to enhance innovation initiatives.
