You will create a new innovative business model by applying the Odyssey 3.14 approach. Then, by reviewing your peers, you will discover at least 3 new, innovative business models, which will provide you even more inspiration. Creativity, both in the business model and in its presentation is key!

Detailed instructions

Building a new business model is all a matter of creativity! This is why this assessment is two fold:

1. Apply the Odyssey 3.14 approach to imagine a new, innovative business model. Here is a recap of the steps you can follow (as suggested in this modules video):

- Step 1: Choose an industry and a/several reference offer(s): We suggest you to start with a problem that you encounter in your daily life

- Step 2: Describe the business model of the reference offer:

• value proposition: draw the reference offers value curve

• value architecture: in a couple of sentences, describe the main steps in the existing value chain

• profit equation: outline the main figures: revenue (price x volume), cost level, fixed assets, working capital. We dont expect too many details, but try to give an order of magnitude

- Step 3:

• Use the 14 directions and explore.

• Cristallize the emerging idea by drawing a new value curve

• Describe and draw the new business model

2. Pitch your new innovative business model by Preparing an engaging presentation

What you have to present to your MOOC peers is how new and innovative your business model is, and not necessarily the steps that you have followed to come up with this result. Focus on the outcome, give a teasing name to your business model and continue to stimulate your imagination to propose a whouah presentation.

Format for the presentation is open, but we suggest that you deliver your presentation as a video, since this makes it more interesting for your peers to discover. Whatever format you chose, you should be able to surprise, engage and share your passion with your peers in your presentation. The presentation should not take more than 7 minutes for your peers to watch / read. Dont hesitate to use humour, since as Albert Einstein said: creativity is intelligence having fun .

Review criteria

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The peer review process gives you the opportunity to see a number of innovative business models presented by your peers and the chance to be inspired by their creativity and insights. It also gives you the chance to evaluate their innovative business models against the grading rubric and provide your MOOC-mates suggestions on how to make their idea even better.

While you are very familiar with your own business model and the format you chose to use, other students may take a very different direction with their idea. That is a great thing! To evaluate your peers in the best way possible you should first discover their presentation and then follow the questions to give them a score and feedback. You will be asked to give feedback to your peers in the following areas:

1. Content assessment (60 points): the evaluation criteria to use here are very similar to those that you have used for the first peer-reviewed exercise, when you had to describe an existing business model within a given template (remember, this was Module 2). Here, our aim mostly is to assess the relevant use of tools and concepts:

• Context: general description of the current situation, giving raise to problems / hassles that you want to address (10 points)

• Value proposition: target customer + current and the new value propositions value curves (20 points)

• Value architecture: describe through the main steps of the current and the new value chains (10 points)

• Profit equation: main changes in the revenue, costs, assets and working capital (10 points)

• Overall consistency of the business model (10 points)

2. Format assessment (40 points): here, we want to assess how creative, engaging and stimulating the new business model presentation is: this measures the whaouh effect! You will be assessed on:

• The name of your business model (10 points)

• Your ability to clearly communicate your ideas (10 points)

• The originality of your ideas (10 points)

• The overall quality of your presentation (10 points)