"A business model defines the way a company generates value (value creation) and how it captures some of this value as profit (value capture)."

Teece 2010

This lecture provides you with some basics how to plan your idea. Important to know is, that you do not just think about the development of the idea itself during the Innovation Days 2016, in fact you create a whole business model for the idea, which is in fact that, what start-ups do as well. But what actually is a business model and a start-up?

Let's find it out!

Watch the video What's a company - what's a startup?

Watch: Stefan Gross-Selbeck: Business model innovation — beating yourself at your own game

Have a look what a business model is.

Have a look at the strategy differences between companies and startups.

In the end, let's have a look how to build a startup.

Before you deepen your understanding how to plan your idea, please answer the following questions:

Great!

You got a deeper understanding about digitalization, idea generation and the planning of the idea now. You are not far away anymore from pitching your idea on the first day of the Innovation Days 2016!