Roger Sørheim Februar 2012 1
1. Ressurser + kapabilitet = konkurransekraft 2. Om forretningsmodeller 3. Bedriftscase Havtek AS 2
Schumpeter (1934) sier at entreprenørskap handler om å kombinere ressurser i noe som oppleves som nytt Penrose (1959) sier at en bedrifts ressurser kan brukes for å oppnå konkurransekraft Porter (1998) sier at unike ressurser kan skape vedvarende konkurransefortrinn 3
? Ny aktør
Konkurransekraft kan bare vedvare dersom ressursene som skaper denne vanskelig kan kopieres av konkurrentene Kunnskap er en sentral ressurs for å skape konkurransekraft Eksplisitt kunnskap - kodifisert Taus ikke uttrykt, eller kan ikke uttrykkes verbalt 5
[ ] an entrepreneur who does not have any resource strengths must construct a resource base identifying, specifying, combining and transforming personal resources into a new venture. This is the entrepreneurial challenge. (Brush et al., 2001: 77)
Unique advantage Strategic assets Core competences Capabilities Generic resources
Jeff Hawkins Glimrende teknolog Patenterte en algoritme for gjennkjennelse av håndskrift på midten av 80 tallet Lisensierte patentet til Grid Systems (hvor han også ble ansatt Første produkt i 1989 Nye produktideer, ønsker å starte for seg selv, men mangler ressurser
Hva Hawkins ikke har Få finansielle ressurser penger Manglet ledelseserfaring Hva han har Et patent (som hans arbeidsgiver lisensierer) Stor bransjekunnskap Et rykte som en glimrende teknolog
Startet PALM i 1992 Fikk inn $2 millioner fra venture capital funds Var da den eneste i ledelsesteamet Fikk også med sin tidligere arbeidsgiver som investor (hvorfor var det viktig?) Kjenner sine egne styrker og ansetter ny adm. dir etter kort tid Klarte gjennom sin sosiale kapital (kunnskap, et godt rykte og forbindelser) å få tilgang til de menneskelige, fysiske og finansielle ressursene som var nødvendig for å starte opp PALM.
I 1995 hadde man et fullt utviklet produkt Manglet finansielle muskler ift. produksjon og markedsintroduksjon Forsøkte å få inn ytterligere ekstern finansiering, lykkes ikke Selskapet selges til US Robotics Beslutningen drevet av et ønske om å komme inn i markedet med produktet Etterspørselen overgikk alle forventninger
Men Hawkins er ubekvem med situasjonen Ønsket en annen strategi enn morselskapet I 1997 kjøper 3COM opp USR Ønsker å kjøpe tilbake PALM gjennom en management buy-out, mislykkes Hawkins (og Dubinsky) var nok en gang en del av et større foretak hvor de får begrenset handlefrihet Hva nå?
Hawkins og Dubinsky slutter i PALM i 1998 De ønsker å starte en ny bedrift Har denne gangen en helt annen ressursbase. Egne penger Ledelseserfaring Relasjoner til leverandører Kundekunnskap Og tung teknologisk erfaring
Men, men Hawkins eier ikke lenger teknologien Men 3COM har en åpen lisensieringsstrategi Hawkins lisensierer sin egen teknologi Med denne lisensen kunne og de andre ressursene på plass startet Hawkins og Dubinsky starte Handspring uten eksterne investorer Fikk på plass et erfarent management team Stor grad av taus kunnskap på plass fra dag 1 Felles erfaringer dannet grunnlag for umiddelbare kapabiliteter
Hadde allerede på plass kapabiliteter som var vanskelige å etterligne. Hawkins og Dubinsky kunne denne gangen finansiert oppstart og vekst selv, men valgte å ta med venture fond på eiersiden Hvorfor? Kunne være selektive Fikk tilført mer enn finansiell kapital Ytterligere bransjekunnskap Bedret markedstilgang Større kredibilitet i finansielle miljøer Betydelig pressedekning
De samme menneskene, samme basis teknologi men forskjellige forutsetninger for oppstart Ressursbasen fra PALM tiden kunne i stor grad bringes over i det nye selskapet De kunne derfor velge en annen strategi for ressursutvikling i det nye selskapet
4. juni 2003 annonserer PALM at de har kjøpt HANDSPRING for 168 millioner dollar Hvorfor Bl. a. for å styrke egen ledelse innen områdene: software og hardware, produksjon og markedføring
Om forretningsmodeller 18
What is a Business Model? 19 Business Model def. fra Barringer og Ireland A firm s business model is its plan or diagram for how it competes, uses its resources, structures its relationships, interfaces with customers, and creates value to sustain itself on the basis of the profits it generates. The term business model is used to include all the activities that define how a firm competes in the marketplace. Teece 2010 a viable structure of revenue and costs for the enterprise....reflects management s hypothesis about what customers want, how they want it, and how an enterprise can organize to best meet those needs, get paid for doing so, and make a profit Osterwalder and Pigneur (2008) A Business Model describes the rationale of how an organization creates, delivers and captures value
Why do we use the concept Business Models? Business models represents the conceptual link between strategy, business organization and systems Business models help to capture, visualize, understand, communicate and share business logic Business models can facilitate analysis and management of organizations The concept of Business Models can help us identify, reproduce and communicate new innovative ways of doing business
Dell s Business Model 21 Dell s Approach to Selling PCs versus Traditional Manufacturers
How Business Models Emerge 22 The Value Chain The value chain is the string of activities that moves a product from the raw material stage, through manufacturing and distribution, and ultimately to the end user. By studying a product s or service s value chain, an organization can identify ways to create additional value and assess whether it has the means to do so. Value chain analysis is also helpful in identifying opportunities for new businesses and in understanding how business models emerge.
How Business Models Emerge 23 The Value Chain
How Business Models Emerge 24 The Value Chain (continued) Entrepreneurs look at the value chain of a product or a service to pinpoint where the value chain can be made more effective or to spot where additional value can be added.
Components of a Business Model 25 Four Components of a Business Model
Core Strategy (1 of 3) 26 Core Strategy The first component of a business model is the core strategy, which describes how a firm competes relative to its competitors. Primary Elements of Core Strategy Business mission Product/market scope Basis for differentiation
27 Core Strategy (2 of 3) Primary Elements of Core Strategy Business Mission A firm s mission, or mission statement, describes why it exists and what its business model is supposed to accomplish. Product/Marke t Scope A company s product/market scope defines the products and markets on which it will concentrate. The choice of products has an important impact on a firm s business model.
28 Core Strategy (3 of 3) Primary Elements of Core Strategy Basis of Differentiation If a new firm s products or services aren t different from those of its competitors, why should anyone try them?
Strategic Resources (1 of 3) 29 Strategic Resources A firm is not able to implement a strategy without resources, so the resources a firm has affects its business model substantially. For a new venture, its strategic resources may initially be limited to the competencies of its founders, the opportunity they have identified, and the unique way they plan to serve their market. The two most important strategic resources are: A firm s core competencies Strategic assets
30 Strategic Resources (2 of 3) Primary Elements of Strategic Resources Core Competencie s A core competency is a resource or capability that serves as a source of a firm s competitive advantage over its rivals. Examples are Sony s competence in miniaturization, Dell s competence in supply chain management, and 3M s competence in managing innovation. Strategic Assets Strategic assets are anything rare and valuable that a firm owns. They include plant and equipment, location, brands, patents, customer data, a highly qualified staff, and distinctive partnerships.
Strategic Resources (3 of 3) 31 Importance of Strategic Resources New ventures ultimately try to combine their core competencies and strategic assets to create a sustainable competitive advantage. This factor is one that investors pay close attention to when evaluating a business. A sustainable competitive advantage is achieved by implementing a value-creating strategy that is unique and not easy to imitate. This type of advantage is achievable when a firm has strategic resources and the ability to use them.
Partnership Network (1 of 3) 32 Partnership Network A firm s partnership network is the third component of a business model. New ventures, in particular, typically do not have the resources to perform key roles. In most cases, a business does not want to do everything itself because the majority of tasks needed to build a product or deliver a service are not core to a company s competitive advantage. A firm s partnership network includes: Suppliers Other partners
33 Partnership Network (2 of 3) Primary Elements of Partnership Network Suppliers Other Key Relationships A supplier is a company that provides parts or services to another company. Intel is Dell s suppler for computer chips, for example. Firms are developing more collaborative relationships with their suppliers, and finding ways to motivate them to perform at higher levels. Along with suppliers, firms partner with other companies to make their business models work. The most common types of partnerships are shown on the next slide.
Partnership Network (3 of 3) 34 Examples of Business Partnerships
Customer Interface (1 of 3) 35 Customer Interface The way a firm interacts with its customer hinges on how it chooses to compete. For example, Amazon.com sells books over the Internet while Norli sells through its traditional bookstores and online. Dell sells strictly online while HP sells through retail stores. The three elements of a company s customer interface are: Target market Fulfillment and support Pricing model
Customer Interface 36 Primary Elements of Customer Interface Target Market A firm s target market is the limited group of individuals or businesses that it goes after or tries to appeal to. The target market a firm selects affects everything it does, from the strategic assets it acquires to the partnerships it forges to its promotional campaigns. Fulfillment and Support Fulfillment and support describes the way a firm s product or service goes to market or how it reaches it customers. It also refers to the channels a company uses and what level of customer support it provides. All these issues impact the shape and nature of a company s business model.
Customer Interface 37 Primary Elements of Customer Interface Pricing Structure The third element of a company s customer interface is its pricing structure. Pricing models vary, depending on a firm s target market and its pricing philosophy.
Price 38 Cost-Based vs. Value-Based Pricing Approach to Pricing Cost-Based Pricing Value- Based Pricing Description In cost-based pricing, the list price is determined by adding a markup percentage to a product s cost. The advantage of this method is that it is straightforward, and it is relatively easy to justify the price of a good or service. The disadvantage is that it is not always easy to estimate what the costs of a product will be. In value-based pricing, the list price is determined by estimating what consumers are willing to pay for a product. What a consumer is willing to pay is determined by his or her perceived value of the product and by the number of choices available in the marketplace. Most experts recommend value-based prices because it hinges on the consumer s perception of what a product or service is worth.