Business model innovation using Design Thinking

What is it about?

This paper presents a workshop design to create new, sustainable business models for practitioners, using Design Thinking techniques. It also explains the underlying research.

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Why is it important?

Sustainable business model innovation is very important for two reasons, profit and sustainability: 1) research suggests that the capability for quick and successful business model innovation is potentially the most important competitive advantage for many industries and 2) the private sector has the most resources and capabilities and can therefore play the decisive role in the transformation to a sustainable economy and business model innovation is the key tool for companies to become more sustainable. But there are only few tools available to assist companies in developing sustainable business models. This paper works towards closing this gap by providing a workshop that helps practitioners develop better business models. Unlike other concepts like these, the workshop was developed based on scientific research and tested for its effectiveness in practice.