Great business models can reshape industries and drive spectacular growth.

Think of Apple: When it introduced the iPod with the iTunes store, it did something far smarter than wrap a good technology in a snazzy design. It wrapped a good technology in a great business model.

But few companies have had that much success with business model reinvention. In fact, most find it quite difficult.

Why?

Researchers found two problems in their research on business models.

First, business models haven’t been well defined.

Second, managers haven’t understood their existing business models well enough to know if they needed changing.

This seminar addresses both issues. It spells out the elements of a successful business model and offers guidelines for deciding when it is time to change yours.