Redesigning Business Models

Alumni learn about how business models are key in the way organisations create, deliver and capture value at the SIT Alumni Career Network’s Entrepreneurship Series: Redesigning Business Models webinar

On 15 September 2021, 48 SITizens tuned in to the webinar titled “Entrepreneurship Series: Redesigning Business Models” organised by SIT Alumni Career Network, in collaboration with SITLEARN Professional Development.


Assoc Prof Jawn Lim, Design & Specialised Businesses, SIT, the speaker of the event, took the participants through how business models are key in the way organisations create, deliver and capture value. The webinar also discussed how one can shift business models in the ever-changing economy to benefit one’s business.


To kick off the session, Assoc Prof Lim introduced the participants to the nine basic building blocks in a business model, which comprises customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.


It was a lively and engaging sharing session, with active participation from the alumni attendees from industries such as hospitality, construction, branding, F&B, IT and more.


Illustrating how business models change, Assoc Prof Lim showed how Netflix went through a value proposition shift, as it transformed its reach and the entertainment industry by shifting movie watching from low tech to high tech, from mail order DVDs to a streaming platform. In another example, Adobe made a finance driven shift when it changed its pricing model and transformed its creative software from Transactional (single licenses) to Recurring Revenue (subscription service).


He also walked through the seven different business model shifts with the participants:

  • From Normal to New Normal
  • From Products to Services
  • From Shareholder to Stakeholder
  • From Physical to Digital
  • From Pipeline to Platform
  • From Incremental to Exponential
  • From Linear to Circular

Communication Design graduate and Senior Brand strategist, Mr Slash Cheong signed up for the webinar, seeing that it was applicable to his line of work. He said he found it useful. “The part on the seven possible business model shifts was the most relevant to me as I am in the branding and consulting industry, so they are pivotal points to discuss with clients who are business owners,” he said.