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• W1520971750 abstract "Adrian Slywotzky has been studying what makes great business designs for years. His books Value Migration (1996), The Profit Zone (1998), Profit Patterns (1999), and The Art of Profitability (2002) provide a strong framework for those seeking the best business design for their innovation. The stakes are high: the value created by different business designs for the same innovation can vary by a factor of five or more. In this interview, Slywotzky discusses business design and how to go about creating powerful, profitable businesses. JIM EUCHNER [JE]: In your books, you've explored the sources of profit, how they change over time, and how businesses can be designed to take advantage of them. What characterizes a good business design? ADRIAN SLYWOTZKY [AS]: A good business design answers a half dozen simple yet hard to answer questions: Who's the customer? What's the unique value proposition? What's the profit model? What's the source of strategic control and the scope? And how do all these things work together? Most companies have learned over the last four decades to invest a lot of thought in designing products and in designing processes. For products, there's a whole set of parameters and trade-offs that we make: speed, capacity, reliability--whatever the attributes of the product are. This discipline of business design is trying to take exactly the same approach to creating the business--saying, if we have designed a great product that brings new value to the customer, how can we design the business to take that product to market? The business design, according to this line of thinking, is the answer to these six seemingly very simple questions, which turn out to be quite difficult to answer well. The first question is, who is my customer and who is not my customer? There are a lot of problems if the answer is anybody who pays. In business design, deciding who the customer is that we'll serve with our offer, and who we will not serve, is the point of departure. The first tough test is to assure that what we built really matches what this customer needs, wants, and will pay for. The second question is, what is our unique value proposition? Why should the customer buy from us rather than from somebody else? The third question addresses the profit model: how do we make money from this transaction or this relationship? The reason that this is a big question today and wasn't such a burning a question 20 years ago is that 20 years ago the answer was simple: the player with the highest market share made the most money, so that's what companies aimed for. More recently--whether you look at airlines, steel mills, computer companies, department stores, copying companies--that rule doesn't seem to work anymore. That's not to say that market share isn't important--it's very important, but it's no longer the imperative. The key question now is, where and how will we be allowed to create profitability? Once we answer that question, we can ask how we maximize our market share in that space. The fourth in my list of questions, and arguably the toughest, is, what is our source of strategic control? That is to say, how do we protect the profitability that we create? It is important to protect profit not only from competitor imitation but also from growing customer power in the B2B world, or growing customer choice in the B2C world. The fifth question is one of scope: what do we do ourselves and what do we procure from others or partner with others to do? Here again, there's a little bit of history. The winning models from the early part of the 20th century into the third quarter of the century were integrated: integrated steel mills, integrated airlines, integrated computer companies, integrated equipment manufacturers. That has changed a lot, and everybody knows that. But the question of what do we do ourselves and what we partner with others for is actually quite difficult, for a couple of reasons. …" @default.
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• W1520971750 date "2015-01-01" @default.
• W1520971750 modified "2023-09-28" @default.
• W1520971750 title "Business Design: An Interview with Adrian Slywotzky" @default.
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