Top50 Thinker to Teach at AISTS
On 22nd February, AISTS is set to welcome Computer Scientist and Professor of Management Yves Pigneur, who will be teaching an all-day session titled How to Design, Test, and Build the Best Business Models and Invincible Companies. Pigneur, along with Alex Osterwalder, invented the well-known Business Model Canvas, Value Proposition Canvas, and Business Portfolio Map. These tools are utilized and trusted by millions of business practitioners around the world. The two have collaborated on many international best-selling books, including Business Model Generation, Value Proposition Design, and most recently The Invincible Company. Yves and Alex are ranked No. 4 on the Thinkers50’s Most Influential Management Thinkers list for 2021. In addition, they have been awarded with the Thinkers50 Strategy Award.
Business Model Inventions
The creations of Pigneur and Osterwalder have been used by companies around the world, including TOP Olympic Sponsor Proctor & Gamble, as well as Swiss-based company Nestlé. Each of these three tools has a specific purpose:
The business canvas model helps to strategically manage a business or help to create new ones by analysing nine different blocks of information.
The value proposition canvas is tool that can be utilized to help a company ensure their product or service is positioned around what their customers both value and need.
The business portfolio map helps a company to visualize their entire portfolio on a single map, helping to identify potential risks the company may be prone to.
Success in Sports
RIP-IT, a sports equipment manufacturing company located in the U.S., used the business model canvas to help correct a $250,000 error. In 2014, the young company had successfully launched two products in the U.S. and Canada. The owners then decided to invest in new baseball bat technology, hoping to launch the world’s first smart bat, a bat that would capture data and analytics that could be used by the user to find weaknesses in their swing. The launch of the product was a failure, as customers favoured cheaper alternatives for analysis of the swing. The other products also proved to be better, as RIP-IT’s smart bat often had connection issues.
The company turned the business canvas model. They utilized the model to not only understand their business, such as its key partners, activities, and resources, but also to redirect their focus back to the customer, allowing that to drive their innovation and strategy. Their next product development idea was a bag for the player’s gear. As part of their customer refocus, the company surveyed over 600 athletes to understand their needs as well as what they value about RIP-IT. The result? $350,000 in sales in the first year for a product that was a $10,000 investment. Due to so much success after using the business canvas model, RIP-IT then utilized the model again, this time creating sports apparel.
The use of the business canvas model helped the company grow their annual revenues by 60% from 2014 to 2018. RIP-IT now uses the model to help stay customer focused and help to create value for their customers. This is just one success story of many, where sports driven companies are using the tools created by Pigneur and Osterwalder to help drive their companies.
Claude Stricker, AISTS Executive Director, is excited for the learning opportunity this session provides, stating: “We are thrilled to welcome Yves in the new AISTS digital technology and innovation module of the Master of Advanced Studies preparing international sport managers to contribute to the (r)evolution of sport”.
Want to learn how you can use these tools for your organization? The session, to be held on 22 February, is open to external participants and will be held from 9 am to 5 pm CET at the SwissTech Convention Center. Special pricing for alumni and those working at the Sports IF’s, NF’s, NOC’s is available. You can find more information here: https://aists.org/education/courses-in-sport-management/highlighted-courses/. You can also contact the AISTS Marketing department here: firstname.lastname@example.org.