businessmodeldofail-10examples-5reasonsen(v2.2).pdf

7/29/2019 BusinessModelDoFail-10examples-5reasonsEN(V2.2).pdf

1/82

www.elton-pickford.com

Business Models Do Fail10 examples - 5 reasons
http://www.elton-pickford.com/http://www.elton-pickford.com/


2/82

10 Business Models that Failed

5 Reasons of FailureWhy do Business Models Fail ?

Part 1

Part 2

Introduction

Elton-Pickford I Business Model Innovation & Strategy I Business Models Do Fail - 10 Examples - 5 Reasons I 2013


3/82

Business Models do Fail

10 examples - 5 reasons

INTRODUCTION



4/82

Achievement: January 2013

Why this paper ?

This document aims at identifying the root causes of Business Model failures. This analysis is

supported by several real cases and constitutes a practical ground to explore the utilization of the

Business Canvas (Alexander Osterwalder) and the Effervescence Framework (Yannick Mriguet -

Elton-Pickford).

Elton-Pickford is striving to provide organizations with efficient ways to explore new Business Models

and publishes regularly case studies on Innovative Business Models. This document counter-balances

the regular publications on successful Business Models by exposing failures as business reality too.

We are proud to offer you this study which we invite you to share and comment with passion.



5/82

Attribution -Licensees maycopy, distribute, display and perform the work and make

derivative works based on it only if they give the author(Antoine Dumont and Elton-Pickford)

or licensor the credits in the manner specified by these .

Publication

This document is provided under the terms of Creative Common License BY-NC-SA. The

modification and the distribution of this copyrighted work for noncommercial use only are authorized

under the reference: BUSINESS MODELS DO FAIL - 10 EXAMPLES - 5 REASONS.

Share Alike - Licensees maydistribute derivative works only under a license identical to the

license that governs the original work.

Noncommercial - Licensees may copy, distribute, display, and perform the work and make

derivative works based on it only for noncommercial purposes.

Achievement: January 2013

http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.com/


6/82

Understand the

Elton-Pickford Framework

SCENARIO

What are the specific

organization objectives

(Growth, Performance,

Positioning, Differentiation,

etc.). What is the internal

context of the company

(Specific competencies,

Tension, M&A, Start Up)?

These elements define thefoundation of the targeted

strategy.

BUSINESS MODEL

What are the fundamental characteristics of

the targeted Business Model? How well do

they fit the context and scenario specificity

& uniqueness? How do they optimize the

company strategy?

CONTEXT

The context highlights the

critical elements to take into

account in the external context

of the company. What are the

key market characteristics,

socio-economic environment,consumer habits, etc. ? And

how can it influence the Go To

Market Strategy of the

organization.

Copyright Elton-Pickford

Effervescence FrameworkCreated by Yannick Meriguet,Associated at Elton-Pickford

SCENARIOOF THE ORGANIZATION

CONTEXT

BUSINESS MODEL



7/82

Customer Segments (CS)

The Customer Segmentsbuilding blockdefines the different

groups of people or organization an enterprise aims to

reach and serve. Different types of customer Segments

exist: mass market, niche market, segmented, etc.

Understand the

Business Model Canvas

Channels (CH)

The Channelsbuilding blockdescribes how a company

reaches its Customer Segments to deliver a Value

Proposition. Channels can be direct or indirect: internet

platform, sales forces, store, retailers, etc.

Value Proposition (VP)

The Value Propositionbuilding blockdescribes the bundle

of products and services that create value for a specific

Customer Segment. It solves a customer problem or

satisfies a customer need. The Value Proposition can be

characterized by its newness, performance, price, etc.

Customer Relationships (CR)

The Customer Relationshipsbuilding

blockdescribes the type of relationships a companyestablishes with specific customer segments.

Customer Relationships may be driven by different

motivations: customer acquisition, customer

retention and boosting sales. We can distinguish

between several categories of Customer

Relationships: personnal assistance, self-service, co-

creation, etc.

Revenue Streams (R)

The Revenue Streamsbuilding blockrepresents the

cash a company generates from each Customer

Segment. There are several way to generate Revenue

Streams: asset sale, subscription, usage fee, etc.

Created by Alexander Osterwalder, Business Model Generation

www.businessmodelgeneration.com

CSCRVPKAKP

C R

KR CH




8/82

CSCRVPKAKP

C R

KR CH

Key Ressources (KR)

The Key Resourcesbuilding blockdescribes the most

important assets required to make a business model work.

Key Resources can be characterized as physical, intellectual,

financial, human, etc.

Key Partners (KP)

The Key Partners building block describes the network of

suppliers and partners that make the business model work.

Reasons behind partnering may be diverse: Optimization and

economy of scale, acquisition of particular resources and

activities, reduction of risk and uncertainty, etc.

Cost Structure (C)

The Cost Structure describes all costs incurred to

operate a business model. They can be cost or value

driven and be classified as fixed or variable costs.

Key Activities (KA)

The Key Activities building block describes the most

important things a company must do to make its business

model work (development, maintenance, production, etc.)

Understand the

Business Model Canvas


Created by Alexander Osterwalder, Business Model Generation




9/82

10 Business Models

that Failed

Part 1



10/82

Copainsdavant.comInternet2009

2xmoinscher.comInternet2012

EncartaPublishing

2009

IridiumTelecom1998

SpanairAirlines2012

KodakChemistry, digital

2012

Blockbuster VideoMovie rentals2010

MoulinexConsumer Electronics

2009

BicPerfume1991

VogicaHousehold furnishing2010



11/82

1

copainsdavant.com



12/82

IndustryInternet - Social web

Date of creation

2001

Corporation

Benchmark Group

Country of Origin

France

Cases period

2001 - 2012

Market type

Mass market

Revenues

(2009) Group : 17 M / Website : 3,5 M

Number of Employees

(Group) 150

Scenario HighlightsFirst mover advantage

Search of profitability

Context Highlights

Growing internet usage

Nationwide efficient broad band infrastructure

Social web growing interest

New competitors

Business Model Highlights

Social network

Connect with past friends on internet

Freemium / premium

Reasons of FailureCustomer segment not buying a paid service

Likelihood of profitability

Emerging competition

copainsdavant.com



13/82

Initial value propositionCreated in 2001, "Copains d'avant" is the

Facebook made in France , and enable to re-

connect with past classmates, publish school

promotion pictures and communicate via

internal mailing system. The company is quickly

becoming the social web leader in France.

Deployed strategyAfter 3 years of existence, with a full free access,

the company is searching a path to profitability. In

2004, the decision is made to monetize the site,

and the internal mailing system along with

additional functionalities are now provided as a

paid service. Facing these new constraints, site

frequentation is declining and the brand image of

the company is hurt. If the value proposition is

still attractive for users, they are not ready to pay

for such services. The internal mailing system is

the cornerstone of the interaction between

schoolmates, and if too much constraints (price)

exist, they stop to use it, loosing the benefits of

the entire value proposition.

Things get worst : the growing Facebook

platform is penetrating the European market with

a modern design, increased functionalities and at

no cost for the user.

New pivotIn 2007, the company acknowledges the failure

of its business model, and re-open the full

service for free. Revenues will be now

generated by adver tising. Additional services

are created, and in 2010 the management of

the company is changed and re-think its entire

positioning and image.

copainsdavant.com



14/82

SCENARIO CONTEXT

BUSINESS MODEL

SOCIAL NETWORK

RE-CONNECT WITH PASTCLASSMATES ON INTERNET

FREEMIUM / PREMIUM

FIRST MOVER ADVANTAGE

SEARCH FOR PROFITBILITY

INTERNET USAGE PENETRATION

NATION WIDE EFFICIENT INTERNETINFRASTRUCTURE DEPLOYED

EMERGING SOCIAL WEB

NEW ENTRANTS

BROAD BAND CONNECTION

FACEBOOKSince 2004

copainsdavant.com



15/82


CSCRVPKAKP

C R

KR CH

La Tribune, Le Franais CDA rsiste toujours, october 2010

Capital, Petits meurtres entre amis chez CDA,june 2010

MAINTENANCE

+

PLATFORM PROMOTION

EMAIL :

1 MILLION PER DAY

SOCIAL NETWORK

RE-CONNECT WITH

FORMER CLASSMATES

FREE SERVICE

ADVERTISING*

MASS PERSONALIZATION

COPAINSDAVANT.COM

SALES FORCES

ADVERTISING CAMPAIGN

MASS MARKET

OLD USERS

30 - 40 YEARS

13 MILLIONS OF UNIQUE

VISITORS / MONTH

ADVERTISINGEFFICIENT ADVERTISING

SPACE

copainsdavant.com

* Since 2007

PLATFORM

INFRASTRUCTURE

HUMAN RESOURCES

Studio Vitamine, CDA : Nouvelle version bta, february 2012

Source :



16/82

2

2xmoinscher.com



17/82

Internet - Marketplace

2001

3 Suisses

France

2001 - 2012

Mass Market

(2007) 3,3 M

(Website) 35

Numerous emergent competitors

Growing Internet Usage

Nationwide efficient broad band infrastructure

Cost reduction strategy for margin recovery

Market Place

Transaction Markup

Buy/sell - Business to Consumers

Secured Transactions

Cost reduction program targeting a core activity of the business (Management)

Decreasing traffic (Model viability)

Emerging competition (Environment)

2xmoinscher.com

Industry

Date of creation

Group

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure
http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.com/


18/82

Second chance

The customer acquisition cost was becoming

superior to the customer Lifetime value,

making the business unprofitable.

In march 2012, the company communicates is

going bankrupt, few months later Uncle Henry

buys it and plans to re-open the platform the

15th of October 2012. Stay Tune...

Initial value proposition

Created in 2001, 2Xmoinscher is an internet

platform that connect consumers (Buy/sell)

along with professional (Sell). Users can buy or

sell brand new or second-hand products.

During the transaction, 2Xmoinscher is

positioned as trusted partner by securing and

holding the payment between par ties. After the

transaction is closed without litige the cash

transfer is proceed.

The revenue model is based on a transaction

fees after completion of the sales.

Competition & investments

While the company is communicated breaking

event after 2 years, its facing important

economic pressures between 2008 and 2012

generating eventually important financial losses.

In addition, Ebay, PrimeMinister, Amazon,

LeBonCoin create a highly competitive market

which will knock about the sustainability of the

business itself.

At the same time, the company has embarked

in a cost reduction program and curbed their

marketing investments. It will have a huge

impact on the site attractiveness, decreasing

significantly the incoming traffic, and the

generated revenues. Presence of large fixed

costs (platform) will lead to a rapid margin

erosion and eventually financial loss.

2Xmoinscher learned the hard way the

specificity of a volume business.

2xmoinscher.com



19/82

SCENARIOCONTEXT

BUSINESS MODEL

MARKET PLACE

BUY / SELL NEW ANDSECOND END PRODUCTS

SECURED TRANSACTION

TRANSACTION FEES

EMERGENCE OF SIZABLECOMPETITION

GROWING INTERNET USAGE

NATIONWIDE EFFICIENTBROAD BAND

INFRASTRUCTURE

COST REDUCTION PROGRAMFOR MARGIN RECOVERY

POSITIONNING AS ATRUSTED PARTNER

DECREASE

MARKETING BUDGET

Business Model Sustainability is

based on sustaining traffic

vouching generation of revenues.

REDUCEDINCOMING SITE TRAFFIC

2xmoinscher.com



20/82

CSCRVPKAKP

C R

KR CH

PLATFORM

MAINTENANCE &

DEVELOPMENT SELL / BUY & GENERATE

REVENUE MERCHANTS & CONSUMERS

BUYERS - MASS MARKET

BUY HALF THE PRICE (NEW

& SECOND HAND

PRODUCTS)

PLATFORM

MARKETING & PROMOTION

ADVERTISING

2xmoinscher.com

Journal du Net, Fermeture 2xmoischer, march 2012

Tomsguide, 2xmoinscher, Actualit n2888

Journal du Net, Une page se tourne, 2xmoinscherferme ses portes

PC Impact, 2xfoismoinscher fait ses adieux, News n69448

PLATFORM

2XMOINSCHER

TRUST PARTNERS WITH

SECURED

TRANSACTIONS

HUMAN

RESOURCES

HUMAN RESOURCES

TRANSACTION FEES

ON COMPLETED SALES

Source :




21/82

3

Encarta - Microsoft



22/82

Publishing / digital Encyclopedia

1993

Microsoft

USA

1993 - 2009

Mass Market

NC

NC

Model viability

Differentiation through content quality

Multi platform products (CD, DVD, online)

Improvement of web content in general (site, blog, media etc.)

New Competitor enters the market with free content and a collaborative

platform

Multimedia Encyclopaedia

Rich content of high quality

Sales of CDs, DVDs etc. and online access subscription

Profitability of products (Model viability)


Business Model not developed further (Company culture)

Encarta

Industry

Date of creation

Group

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure


23/82

Fierce competition

These actions have no impact on the

Customers behaviour. In 2009, Encarta has a

low market share of 1.27%, against 97% for

Wikipedia.

At this time, Wikipedia has more then three

millions articles in English. As a consequence,

Microsoft decides not to continue its business

model and exits the Market end of 2009.


Started in 1993, Encarta proposed a digital

Encyclopedia available on multiple technology

carriers (CD, DVD, online) and in multiple

languages. This product by Microsoft established

itself very quickly as the Market leader,

competing with its 36'500 articles (2007)

against large multimedia corporations.

Change of habits

In 2001, Wikipedia enters the market. The

content is created and maintained by the users

themselves on a free basis, which continuously

improves the quality of the platform. Two years

later, this platform overtakes Encar ta by the

number of articles.

As a reaction, Encarta improves the content

actuality and proposes a free light access to a

limited amount of articles.

Encarta



24/82

SCENARIOCONTEXT

BUSINESS MODEL

UNIVERSAL MULTIMEDIA

ENCYCLOPAEDIA

RICH AND HIGH QUALITY CONTENT

SALES OF DIGITAL PRODUCTS,

SUBSCRIPTION FOR ONLINE ACCESS

IMPROVEMENT OF WEB CONTENT

IN GENERAL (SITE, BLOG, MEDIA,

ETC.)

ENTRY OF A COMPETITOR WITH A

FREE AND COLLABORATIVE

BUSINESS MODEL

MODEL VAIBILITY

REVENUE STREAMS /

MANUFACTURING COSTS

DIFFERENTIATION THROUGH

CONTENT QUALITY

MULTI-PLATFORM PRODUCTS

(CD,DVD, Online)

35 000 ARTICLES

26 000 MEDIAS

Encarta

HIGH CAPABILITY TO

CREATE CONTENT VERY

RAPIDLY



25/82

CSCRVPKAKP

C R

KR CH

MULTIMEDIA

ENCYCLOPEDIA MASS MARKET

Premire, Encarta, coul par Wikipdia, ferme dfinitivement ses pages, march 2009

NouvelObs, Lencyclopdie en ligne Encarta va fermer, march 2009

Clubic, Microsoft fermera Encarta cette anne, march2009

WEB PLATFORMHUMAN RESOURCES

HUMAN RESOURCES

SALES OF DIGITAL PRODUCTS

Encarta

RICH AND HIGH QUALITY

CONTENT

CD / DVD

SALES OF SUBSCRIPTION FOR ONLINE ACCESS

CONTENT PUBLISHING

PROMOTION OF THE

ENCYPLOPAEDIA

Source :




26/82

4

Iridium - Motorola



27/82

Telecom Services

1991

Motorola

USA

1991 - 1998

Mass Market

NC

NC

Take over Market leadership

Deploy a large scale network

Manage the world wide phone network

Win a major technological challenge

Development of competition

Alternative emerging Technologies

Cost reduction of Telecom infrastructure

Rising customer demand

Call from anywhere in the world

Terminal sales

Subscription sales

Profitability of the value proposition (Model viability)


Technological development (Environment)

Project management (Management)

Iridium

Industry

Date of creation

Group

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure


28/82

Bankruptcy

In 1998, Iridium starts and 9 months later, the

company goes into bankruptcy. Customers face

technical failures, the product doesnt work in

cars or buildings, as the usage is only possible

outside, requiring a open connection to the

satellite array.

Moreover, the value proposition is very costly:access costs 7 USD per minute against 50

cents for a traditional carrier. To this adds the

acquisition of the phone for more

than 3000 $.


In 1991, Iridium starts building a mobile

phone system which allows communication

from anywhere. This system would cover any

cities, any agglomerations and any square

meter on ear th, being at sea, in the jungle, in

the mountains.

The system, developed by Motorola, baseson an array of satellites displaced around the

globe.

This phenomenal project costs app. 6bn

USD, and includes the launch of 15 rockets

and more than 75 satellites. It started its

operation in 1998.

Evolution of the technological

environnement

During the 8 years of project work, mobile

communication developed quickly. Telco operators

deployed terrestrial networks, thus covering the

main access zones. In parallel, the costs of

communication and of acquiring the cell phones

have dropped considerably.

Iridium



29/82

SCENARIO

CONTEXT

BUSINESS MODEL

CALL FROM ANYWHERE IN THE

WORLD

SALES OF PHONES

SALES OF SUBSCRIPTIONS

RISE OF COMPETITION

NEW EMERGING TECHNOLOGIES

COSTS DECREASE OF THE TELECOMINFRASTRUCTURE

INCREASE IN CUSTOMER DEMAND

TO BECOME THE WORLD LEADER ON

THE TELECOM MARKET

TO DEPLOY A LARGE SCALE

NETWORK

TO MANAGE THE WORLD PHONENETWORK

TO WIN A MAJOR TECHNOLOGICAL

CHALLENGE

Development of terrestrial

networks

The initial customersegment is quite

restricted. A mass Marketis developing shortly after

the Launch

Iridium



30/82

CSCRVPKAKP

C R

KR CH

MASS MARKET

TELECOM NETWORKS

75 SATELLITES

FINANCIAL

RESOURCES

6bn USD

NETWORKS &

INFRASTRUCTURE

15 ROCKETS75 SATELLITES

NETWORK

DEVELOPMENT AND

MAINTENANCE

Libration, Iridium menace de sonner dans le vide , March 2000

Steve Blank, No Business Plan Survives First Contact With A Customer, November 2011

Stphanie Legrand,Mmoire de recherche IAE de Lille, 2000

Iridium

COMMUNICATION: 7$ USD p. min.

SALES OF PHONES: 3000$ USD

PHONE FROM

ANYWHERE

Source :




31/82

5

Spanair



32/82

Airline carr ier Transportation

1986

IEASA (80,1%) - SAS AB (19,9%)

Spain

1986 - 2012

Mass Market

(2009) 670 M

(2008) 4 000

High variable costs

Financial tension (debts)

Cost reduction strategy based mainly on fixed costs

Airplane crash in 2008

High competitive MarketNew entrants

Cost of fuel

Security norms & constraints

High Customers sensitivity on security policies

General airplane transportation

Main destinations: Spain, Europe, Latin America

Massive increase in fuel costs (Environment)

High competitive forces (Environment)

Costs reduction with major impact on the main value proposition

(Management)

Spanair

Industry

Date of creation

Group

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure


33/82

A new company

Spanair starts in Spain in 1986. Its first flights

are conducted in 1988. Quickly, Spanair

develops to a major player in air

transportation in Spain and soon gains a

market share of 22%, directly behind the

main player Iberia. Even though the main

flights are domestical flights, the company

proposes European flights with more than

100 destinations.

At the end, Spanair transported more than

11 mio. passengers yearly, with more than

200 daily flights. During its whole history, the

carrier transpor ted app. 104 mio.

passengers.

The last flight

Meanwhile, new security rules have been

introduced, requesting more stringent maintenance

procedures and quicker renewal of airplanes. This

impacts highly on the fix costs situation. On the

other hand, consumers are getting more critical,

after different air crashes that happened during this

period. Many consumers start to look at security &

maintenance ranking of the airlines.

On August, 20th 2008, flight nbr. 5022 misses the

take-off and explodes on the ground. Most

passengers die immediately. The following

investigations reveal some neglected maintenance

elements, showing weaknesses in the maintenance

programs, as well as consequential impacts of over

aging airplanes.

Following this, Spanair looses the main part of its

Customer base. A destroyed image and growing

debts end in the closure of all activities in Jan. 2012

A high tension Market

After 2000, the air transportation Market becomes

more competitive. Notably, new entrants

destabilize the market forces through new business

models based on low price value propositions.

First financial losses appear here and there. The

following years are marked by an important rise of

fuel cost, a sensitive key element of the business

model, which impacts on the margin dramatically.

This second element adds to the already very

tense financial situation of most companies.

During Summer 2008, the management starts a

cost reduction program aiming at reducing head

count by 25%, stopping app. 10 destinations and

grounding of 15 airplanes.

Spanair



34/82

SCENARIO CONTEXT

BUSINESS MODEL

MAJOR

DESTINATION :

SPAIN, EUROPE, LATIN AMERICA

HIGHLY COMPETITIVE MARKET

NEW ENTRANTS

FUEL PRICE FLUCTUATION

CONSTRAINTS THROUGH NEW

SECURITY NORMS

GROWING CUSTOMER

AWARENESS OF SECURITY

RULES

MAJOR VARIABLE COSTS

FINANCIAL DIFFICULTIES,

DEBTS

FIXES COSTS REDUCTION

AIRPLANE CRASH IN 2008

Many Spanish and Foreign

companies

Major impact on

margin

Spanair

Fuel

Loss of trust

from many

customers

LOW-COST



35/82

CSCRVPKAKP

C R

KR CH

FLIGHT PROMOTION

SALES OF FLIGHT TICKETS

FUEL

AIRPLANES (75)

AIRPORTS TAXES

INDIVIDUALS

PROFESSIONALS

QUICK TRIPS TO SPAIN OR

ABROAD

TRAVEL AGENCY

INTERNET SITE OF

SPANAIR

**

Source :Le Monde, La compagnie arienne Spanair en faillite, tous ses vols annuls, January 2012,

Air Journal, Spanair en faillite, January 2012,

Lexpansion, Spanair en faillite, January 2012.

Spanair

AIRPORTSREASSURE CUSTOMERS

ON FLIGHT SECURITY

AIRPLANE ACQUISITION

AIRPLANE

MAINTENANCE

HUMAN RESOURCES

PILOTS

AIRPLANE

MAINTENANCE

PASSENGER

TRANSPORTATION

TRAVEL AGENCIES

AIR ALLIANCE




36/82

6Eastman Kodak

Company



37/82

Chemicals Manufacturing of photographic films

1881

George Eastman

USA

1930 - 2012

Segmented Markets (Individuals + Professionals)

(1995) 15 Mds $ - (2011) 6 Mds $

(1954) 73 000 - (2011) 7 600

Work against Market evolution

Reinforce existing business model

Introduce as many patents as possible to block the emerging digital Market

Technology developments strongly enabling digital photography

Photography is getting a mass product for individuals

Rising customer demand

New competitors in phase with changing Customer requirements

Manufacturing of photographic films

High margins

Change in behaviour: Camera as a consumergood for mass markets

(Environment)

Technology development: digital revolution (Environment)

Strong focus on Margin protection (Company culture)

Eastman Kodak Company

Industry

Date of creation

Founder

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure
http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.com/


38/82

Collapse

At the end of the 80s, first competitors enter

the market with digital cameras. Between 1990

and 1999, Kodak introduces about 1000

patents in digital photography, but never

achieves its final goals, as digital photography is

closer to Electronics than traditional

photography.

In less than 10 years, the company will reduce

workforce by 63000. Handicapped by its own

past, Kodak is not able to change direction, and

Sony, Canon or Fuji will cause the collapse of

Kodak in 2012.

Technological Innovation

In 1880, Georges Eastman, founder of

Kodak, invents a special coating machinery

that enables the mass production of dry

films for photography. For a hundred years,

the company will dominate the world of

cinema and photography.

Kodak bases the growth strategy on the film

production and generates record sales

growth and huge margins (app. 80%). In

1981, Turnover of Kodak achieves 10 bn

USD.

Change in Customer

requirements

In the early 80s, Kodak invents digital photography.

However, the company is not determined to

develop further this technological innovation.

Management estimates that the latter could be a

major threat to the actual activity, the sale of

argentic-based films.

The organization got used to very high margin, this

for years and years. As a reaction, it tried to

protect the existing business instead of satisfying

the changing market requirements, thus shifting

away from the real changing market.




39/82

SCENARIO CONTEXT

BUSINESS MODEL

MANUFACTURING OF

PHOTOGRAPHIC FILMS

MANUFACTURING OF PHOTO

CAMERA

VERY HIGH MARGINS

TECHNOLOGY DEVELOPMENT

PHOTO CAMERA AS

CONSUMER GOODS IN A

MASS MARKET

CHANGE IN CUSTOMER

REQUIREMENTS

NEW COMPETITORS IN PHASE

WITH CUSTOMER

EXPECTATIONS

COUNTERACT AGAINST MARKET

EVOLUTION

REINFORCE THE EXISTING BUSINESS

MODEL

PATENT AS MUCH POSSIBLE IN ORDER

TO BLOCK THE DIGITAL MARKET

Rise and growth of digital

photography


app. 80 %


40/82

CSCRVPKAKP

C R

KR CH


MANUFACTURING OF

PHOTOGRAPHIC FILMS

HIGH

MARGINSHUMAN RESOURCES

R&D

RAW MATERIAL

INDIVIDUALS

PROFESSIONALS

RESELLER

NETWORKPATENTS

ROYALTIES75% of

GB in 2011

80 %

ADDITIONAL PRODUCTS

Printers

Ink cartridges

Photo papers

One-time usage cameras

WWW.KODAKEXPRESS.COM

*

* From mid 90s

*

**

**

** Commercialization in 2003

www.kodak.fr

Le Figaro, Kodak se dclare en faillite, January 2012

Philippe Silberzahn, Fin de Kodak, victime dilemme de linnovateur, January 2012

Knowledge@Wharton, Whats Wrong with This Picture : Kodaks 30-year Slide into Bankruptcy , february 2012

PHOTOGRAPHIC FILMS

PHOTO CAMERAS

Source :




41/82

7

Blockbuster Video



42/82

Movies rentals

1985

Echostar

USA

1985 - 2010

Mass market - Individuals

(2002) 5,5 bn USD

48 000

Offer a wide selection of movies

Expansion of internet

New comers

Wide selection of movies for rent

Exclusive offer of new movies for rent

Develop stores in residential areas and malls

New usage (environment): illegal downloading, streaming

New comers (environment): emerging competitors

New technologies (environment): internet, downloading, VOD

Blockbuster Video

Industry

Date of creation

Group

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure


43/82

An abrupt end

In 2009, Blockbuster creates an automated

distribution network to rent movies. The goal

of this mass deployment is to come back as a

key player. For economic reasons, some shops

will be replaced by machines.

Despite this, the company filed for bankruptcy

in 2010.

The company left behind more than 6000

franchised and proprietary shops spread over

18 countries representing about 48000

employees.

Innovation in services

In 1985, Blockbuster opens its first movie

rental store in Dallas. From VHS tape to

DVD, the company will have an exponential

growth. In early 90's, the demand is

booming.

Movie rental allows to compensate the

limited TV channels at that time and offers a

wide and attracting catalog of movies. 9

years after its creation, Blockbuster will be

valued at $ 7.6 billion.

A changing environnement

In mid 2000, new signs of change are emerging in

the environment. Customers' expectations are

changing and new comers are disturbing the

existing market. Competitors appear and offer

mail-delivered movie rental with a wider catalog.

Technological improvements will also disturb

Blockbuster business model. Concurrently to

internet development, streaming websites will

explode along with all illegal downloading

possibilities.

In addition, more and more TV channels propose

new offers such as video on demand.

Blockbuster Video



44/82

SCENARIOCONTEXT

(between 2002 and 2010)

BUSINESS MODEL

WIDE OFFER OF MOVIES

RENTALS

NEW MOVIES

PROXIMITY WITH RESIDENTIALS

AREAS AND MALLS

INTERNET EXPANSION

NEW COMERS

OFFER A WIDE SELECTION OF

MOVIES

New usages

Mail-delivvred rental

Video On Demand

development

Blockbuster Video

87 million customers

+ 6000 shops

Twenty countries

Illegal downloading

Streaming websites



45/82

CSCRVPKAKP

C R

KR CH

DEVELOPMENT OF

NETWORK

40 % OF

TURNOVER

DISTRIBUTED TOSTUDIOS

48 000 EMPLOYEES DEDICATED SHOP

+

FRANCHISES

WIDE MOVIES RENTAL

OFFER

EXCLUSIVITY ON MOVIES

* On a dedicated period

*

STUDIOS

INDIVIDUALS

87 MILLIONS OF

CUSTOMERS

INFORMATION ON USER

BEHAVIOUR

DEDICATED

DISTRIBUTION

NETWORK

DEVELOPMENT OF THE

CONTENT OF THE OFFER

MOVIES RENTALINFRASTUCTURE

EMPLOYEES

PRIORITY ON NEW MOVIES6 000 SHOPS

IN 18 COUNTRIES

Blockbuster Video

Le figaro, 24 september 2010 ;

Financial Times, 24 february2010 ;

Le Monde, 17 february 2010 ;

Lexpansion, 11 may 2007 ;

The Times, 28 february 2010.

Source :




46/82

8Moulinex



47/82

Moulinex

Manufacturer of small appliances

1937

Jean Mantelet

France

1937 - 2001

Mass Market

(1998) 1,21 Billion

(1998) 11 000

Financials difficulties in 90's

Success story and recognizedd brand

Worldwide presence

Bursting of the family unit

Development of women's employment

Emergence of strong asian competitors

Small appliances associated with feeling of pleasure

Manufacturing of small appliance for women market

Mass production and low margin

Originally, strong innovation on product

Decrease of product sales with low margin (Business model viability)

Emerging competitors (Environment)

Financial management (Management)

Industry

Date of creation

Founder

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure


48/82

Pricing policy

In 1950, Jean Mantelet developed a different

pricing strategy from its competitors. Instead of

establishing a selling price based on cost price

including depreciation of production equipment, he

focused on the consumer. His approach is based

on the consumer's ability to buy the product by

defining a "democratic" price.

The entrepreneur looks for a mass production to

ensure low costs and a minimum profitability.

Moulinex

Worlwide exposure

The exponential market growth allows Moulinex

to be located in several countries. At the end 80's,

Moulinex products are distributed in more than

135 countries. However, the company activity is

largely based in France . Only 20% of the turnover

is generated abroad against 40% for SEB, its main

competitor.

History of the group

In 1932, Jean Mantelet invents the vegetable

mill. Wishing to end by finding lumps in mash

potatoes prepared by his wife, he decided to

create the famous "Potato Masher" or "Presse-

Pure". Manufacturing and distribution of these

products are a great success.

This new equipment allows solving a shared

problem to all housewifes at that time. In 1957,

it operates his business under the brandMoulinex. In 1962, appears a strong motto:

"Moulinex free women"

a period of thirty and mores the beginning of

the consumer society. It means liberation of

household chores and automation of dedicated

tasks. Moulinex will then have huge

opportunities to address these new needs.

Within only few years, the brand will invent no

less than 70 products among which we find the

coffee grinder, the multi-function robot, the iron

or the microwave.

End of the story

This booming market quickly attractes

competitors, firstly european and then asian

ones. The market was huge and attracting. The

low complexity of products and the low level of

maintenance for this type of goods reduced

seriously entry barriers.

In the 90's star ts the decline of the group. A

slowdown in gross markets can be explained by

the saturation of several customer segments.

Sales suddenly collapsed. The emblematic founder

died in 1991. It leaved room for internal

dissension, mismanagement and a lack of

innovation. In an effor t of diversification of its

products, he company made a major acquisition

(Krups) which increased its debts and reduced its

flexibility. Despite several massive restructuring

and merger attempts or capital opening, theFrench jewel is closed in 2001, September 7th.

The brand still exists today. It has been acquired

by SEB group together with some French

production units.



49/82

Moulinex

SCENARIO CONTEXT

BUSINESS MODEL

SMALL APPLIANCES

PRODUCTS MANUFACTURING

MASS PRODUCTION

LOW MARGIN

STRONG INITIAL VALUE PROPOSITION

INNOVATION IN PRODUCTS

MARKET GROWTH DEPENDS

ON HOUSEHOLDS NUMBER

INCREASE OF WOMEN

EMPLOYMENT

DECLINE OF AVERAGEHOUSING SIZE

EMERGENCE OF STRONG

ASIAN COMPETITORS

FINANCIAL ISSUES IN THE 90S

OLD SUCCESS STORY

STRONG BRAND

WORLWIDE PRESENCE

135 COUNTRIES

IN 1931 BY THE

FOUNDER, THE

POTATO MASHER

The increase of single-

parent families promote

the market growth

Looking for time

savings in houshold

chores

Decline of storage

areas: search for multi-

functions products

Represents only 20%

of Moulinex

turnover



50/82

CSCRVPKAKP

C R

KR CH

Moulinex

SMALL APPLIANCES

EQUIPMENTS

RESELLERS NETWORK

WOMEN

SELL EQUIPMENTS WITH

REASONNABLE PRICE

20% OF TURNOVER

DONE ABROADLOW MARGIN

STRONG BRAND

PRESSURE ON PRICE

MASS PRODUCTION

180 000 UNIT / DAY*

LOGISTICS

DISTRIBUTION

ADVERTISING

SMALL APPLIANCES

STORES

Marketing MagazineN144, Saga Franaise succs, 2010 ;

Ministre de lindustrie, Approche sectorielle - lectromnager, 1999

Mmoires dentreprises, Moulinex,1993

OuestFrance, La bataille des millions, 2009

Stratgies,Moulinex se robot que je ne saurais voir, 1998.

IMPORTANT REAL ESTATE

RESOURCES

HUMAN RESOURCES

Unskilled labor

Mainly women

IMPORTANT REAL ESTATE

RESOURCES

HUMANS RESOURCES

MASS-MARKET RETAILING

135 COUNTRIES

BRAND PROMOTION

ADVERTISING

BUDGET

ADVERTISING AGENCIES

* Production for 16 plants in 1980

Source :




51/82

9Cuisines Vogica



52/82

VGC Distribution

Furniture fabrication

1976

William Ego

France

2000 - 2010

Mass Market

(2008) 107 Million

(Groupe) 1 000

Financial difficulties

Strong decline of customer satisfaction

Economic Crisis

Highly competitive environment

Activities unbundling

Failure of key partners

Customer segmentation (professional / individuals)

Important logistics activities

Financial Management (Management)

Failure of key partners (Business model execution)

Industry

Date of creation

Leadership

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure


53/82

Value proposition

Located in "Les Vosges", VGC Distribution group

combines manufacturing and distribution

activities of kitchens and bathrooms. After

various takeovers and restructuring, the group

wants to be one of the key players in this

business.

With 45 stores located in France, VGC

Distribution addresses two different customersegments. On one hand, it offers individuals the

construction and installation of custom

kitchens. It can also include appliances.

On the other hand, it addresses major retailers

such as Castorama, But or Brico-Dpt by

providing kitchens in kits.

Business model execution

In the early 2000s, the company faced several

financial difficulties mainly related to inadequate

management choices.

The company is forced to leave construction

activities. From then relying on Nevelt, a sub-

contractor that will ensure the production. VGC

Distribution will then focus on sales anddistribution.

VGC sales exceeds forecasts. but having Nevelt

not being able to honor all orders, increasing

immediately delivery times for end customers.

Delivery time initially negotiated to 8 weeks will

become several months. In addition, some sets

are coming with missing par ts which forces VGC

to perform installation in several steps.This will increase significantly logistic costs of the

company.

Final closureDelivery delays and lower product quality caused

a growing customer frustration. In addition, VGC

Distribution is facing chronic financial difficulties

and a major economic crisis. As a result many

orders will be canceled. Unable to pay Nevelt, its

supplier, the group go into receivership for

several months before its liquidation.

VGC Distribution


VGC Di t ib ti


54/82

VGC Distribution

SCENARIOCONTEXT

BUSINESS MODEL

CONSTRUCTION

& ASSEMBLY

KITCHEN AND BATHROOM

FURNITURE

OWN DISTRIBUTION NETWORKS

DECLINE OF HOUSEHOLD

CONSUMPTION

STRONGCOMPETITION

FINANCIAL DIFFICULTIES

FAILED PARTNER

NEGATIVE CUSTOMER

REPUTATION

CUSTOMIZED RELATION


V i VGC Di t ib ti


55/82

CSCRVPKAKP

C R

KR CH

Vogica - VGC Distribution

VOGICA

45 stores

SALES OF FURNITURE

Strong margin

INDIVIDUALS

PROFESSIONALS

Castorama

Brico dpt

But

KITCHEN & BATHROOM

FURNITURE KIT

LOGISTIC

Routing orders

SALES OF FURNITURES

Slow margin

NEVELT

Furniture production

MANUEST

NEVELT

Furniture production

PERSONNAL

Delivery within 8 weeks

APPLIANCES

under its brand 1982

AGRESSIVE BUSINESS

PRACTICES

Appliances Supplier

KITCHEN & BATHROOM

CUSTOM ASSEMBY

Source :Le figaro, 8 november 2010 ;

Huffington Post, 27 september 2010 ;

Usine nouvelle, 28 september 2010 ;

Le Point, 9 november 2010.




56/82

10Group BIC



57/82

BIC - Perfumes

Consumer products

1945

Bruno Bitch

France

1988 - 1991

Mass Market

(2010) 1.830 Billion

(Group) 9 200

Several success stories in marketing of disposable products

Financial results of the group

Capitalization on distribution network

Product praised by the public

Increase of perfume price

Growing competitor products

Perfume manufacturing and sales

Low price

Distribution through tobacco shops and bars channel

Focus on simple and practical usage

Mistake in distribution channel selection

Inappropriate value proposition with customer expectations (VP/CS)

Industry

Date of creation

Leadership

Country of Origin

Cases period

Market type

Revenues

Number of Employees


Scenario Highlights

Context Highlights


Reasons of Failure


58/82

Wrong distribution channelThree years after the launch, sales didn't take off

and BIC ceases its perfumer activity. It appears

that the distribution channel was not the right

one. Many tests have been carried out on the

product and on customer ability to buy. But,

conditions and retail environment were not

considered.

Flagrances are often associated to luxury, good

time or even enjoyable olfactoric moments.

Tobacconists do not match with this universe.

Odors, atmosphere, as well as sellers

competences are in total opposition with the

selling experience expected by the customer.

Actually this is not reflecting the real customer

perception.

In view of the customer, a good fragrance is

strongly paired with emotions, and disposablegoods (as the other products from BIC are) do

not match with this image.

Diversity of productsFounded in 1945 by Edouard Buffard and

Marcel Bitch, Bic group launches in its first

years the Bic Crysta ball-point pen. Today

the group operates worldwide and in more

than 160 countries. For almost 60 years, BIC

has shown a real ability to diversify its

activities and products. To date, the French

group produces lighters, razors, and various

water sport articles (windsurfing, kayak...) in

addition to pens.

Since 2008, BIC also sells a mobile phone

manufactured and distributed in partnership

with Alcatel and Orange.

Innovation in productsIn 1988, BIC launched its own range of flagrances.

This perfume is accessible for everyone, used by

everyone at any time. Marketing teams rely on the

practical side by offering small bottles shaped like

lighters that are easily transportable. It also

perfectly fits in a pocket or a handbag. Sold for 25

francs (3.5 ) for about 300 sprays, the product

comes in 4 colors (red and blue for women, black

and green for men).

Each perfume targets a specific customer segment

or a specific context depending of its flavoring

composition.

After many marketing studies, it was decided to

distribute the perfume on a large scale in Europe,

USA and several countries in Africa.

Leveraging on its large ligther distribution

network, the bottles are proposed to the massmarket through existing retail shops. In apparence,

it seems convenient for the customer to combine

the purchase of a lighter with a perfume.

BIC - Perfumes



59/82

SCENARIOCONTEXT

BUSINESS MODEL

FRAGRANCE

SMALL AND PRACTICAL FORMAT

EASY TO USE

LOW PRICE

DISTRIBUTION THROUGH TOBACCONISTS

CAPITALIZATION ON THE

DISTRIBUTION NETWORK

SUCCESS STORY ON LOW PRICE

AND PRACTICAL PRODUCTS

FINANCIAL RESULTS

OF THE GROUP

COMPETITIVE PRODUCTS

EAU DE TOILETTE

Perfume for

20 Francs

STAGNANT TURNOVER

2,2% DECREASE IN 1987

GROWING

INCREASE OF PERFUME

PRICE

PRICE INCREASED 66%

BETWEEN 1981 AND 1988

NEED TO RENEW

BIC - Perfumes



60/82

CSCRVPKAKP

C R

KR CH

DISTRIBUTORS

TOBACCO BARS

LOW PRICE

MASS MARKET

Male / Female

WORLWIDE

MANUFACTURING

PARTNERS

DISTRIBUTORS

TOBACCONISTS

MANUFACTURING

STRONG BRAND

MANUFACTURING

ADVERTISING

PERFUME: HIGH END

PRODUCTADVERTISING

ASSISTANCE IN SALES IN

TOBACCO BARS AREAS

PROMOTION

DISTRIBUTION NETWORK

PRODUCT EXPERIENCE

DREAMS

SMALL AND PRACTICAL

FORMAT BASED ON ITS

FUNCTIONALITY

PERFUMER EXPERT

Source :Bicworld.com, 6 dcembre 2012 ;

LObs conomie, Le bide de bic, 17 novembre 1988.

BIC - Perfumes




61/82

5 reasons of failureWhy do

Business Models Fail ?

Part 2



62/82

Alignment between Value Proposition

and Customer Segment1Missmatchbetween the Value Proposition and

the Customer Segments.

The value proposition doesnt

answer a real need or doesnt

address a real problem of the

customer.



63/82


CONTEXT

BUSINESS MODEL

1 Conflict within theBusiness Model:Inadequate fit betweenValue Proposition and

Customer Segment

The Business Model is

disconnected from the

Context

Value proposition


and Customer Segment



64/82

SCRCPVACPC

C R

RC CX

1Value

proposition Customer

segment

Fight!


and Customer Segment




65/82

Business Model

financial viability2The costs exceed the revenues

generated making the business non-

profitable.

Dont confuse impossible profitability

with slow return.

Example : customer acquisition cost or

production cost too high etc.



66/82


CONTEXT

BUSINESS MODEL

2 Conflict within theBusiness Model : Noprofitability

Value proposition

Costs > revenues

Business Model

financial viability



67/82

CSCRVPKAKP

C R

KR CH

Costs Revenues

Costs

Revenues

Losses!!!!!

2

Business Model

financial viability




68/82

Environmental constraints are not fully

integrated with the design of the

Business Model3Poor analysis of the

environment : competition,

technological trends, regulation

and economics forces are

poorly evaluated.

Main environmental changesmust be challenged prior to

developping new business

models.




69/82


CONTEXT

BUSINESS MODEL

3

Key elements

NOT

integrated

Value proposition

Costs > revenues

Environment



Business Model




70/82


TechnologytrendsSCRCPVACPC

C R

RC CX

Financialmarkets

Globalization

Regulation

Competition

NewEntrants

Newcustomerbehaviors

...*

* Non exhaustive list

3



Business Model



71/82

Business Model

Execution4Management team did not focus

enough on execution by lack of

competencies, poor governance, or

low transformation support.



72/82


CONTEXT

BUSINESS MODEL

4Value propositionCosts > revenues

Environment

Management

Conflict & absence of key

competencies within the

management team

Business Model

Execution



73/82

AnalysisoftheEnvironment

4ExecutionIdentificationof

opportunities

ManagementFailure

BusinessModel

Generation

Business Model

Execution

CSCRVPKAKP

C R

KR CH




74/82

5It is difficult for companies to

break old patterns that made

them successful in the past. And

the temptation is strong to pursue

what has worked before. The risk

is to look at new opportunities

thru the lens of current profits

and performance yields.

The management does not take

into account the necessity toadapt its business model. It stays

unbalanced between a radical shift

and incremental improvements.

The goose that

lays the golden egg



75/82


CONTEXT

BUSINESS MODEL

5Organizational cultureand past successes

doesnt encourage the

management to question

the real foundation of its

current Business Model

and new opprtunities for

growth.

The goose that

lays the golden egg

Value proposition

Costs > revenues

EnvironmentManagement

Organizational

culture



76/82

CSCRVPKAKP

C R

KR CH

CSCRVPKAKP

C R

KR CH

5 Actualprofits Potentialprofits

Actual model Future model

Very profitable Lessprofitable

The goose that

lays the golden egg


www.businessmodelgeneration.com www.businessmodelgeneration.com


77/82

"Elton-Pickford is a facilitator and helps industry leaders to

reinvent their business and explore opportunities for growth and

new performance".

Mission

Elton-Pickford is a leading consulting firm specialized in Business Model Innovation. Our customers are

large corporations recognizing the necessary investment in Business Model Innovation.

We provide premium consulting services and unique experience workshops with a sole objective of

improving clients condition.

Today, reinventing its business models is not an option anymore. It is a path for a sustainable growth and

new performance.



78/82

Industry

watch

We provide organizations with critical insightson innovative business models used in key

industries (Industry cases, Industry trends,

Spot news)

Corporate

Education

Building leadership in Business Modelinnovation starts with Education. So,

change the rules of the game:

Experience a full immersion in design

thinking & corporate entrepreneurship

and start looking at your business

differently.

Business

Experiment

Engaging in Business Model Innovationinitiative can be challenging for any

organization. We believe that the best

way to achieve rapid results is to

design practical experiences around

company strategic concerns. We call

them Business Experiments.



79/82

Customer voice

You have questions, remarks or suggestions ?

Your feedback is important to us, contact us !

You wish to have a live presentation of this document ?

Lets meet and discuss !

You wish to access others studies ?

Please visit our website

and register to our newsletter

You wish to know more on how Elton-Pickford can assist you ?

Contact us and plan a meeting

mailto:[email protected]?subject=Demande%20d%27informations%20sur%20vos%20activit%C3%A9shttp://www.elton-pickford.com/?cat=11mailto:[email protected]?subject=Demande%20de%20pr%C3%A9sentation%20de%20l%27%C3%A9tude%20Echec%20de%20Business%20Modelmailto:[email protected]?subject=Votre%20publication%20sur%20l%27%C3%A9chec%20de%20business%20modelhttp://www.elton-pickford.com/http://www.elton-pickford.com/mailto:[email protected]?subject=Demande%20d%27informations%20sur%20vos%20activit%C3%A9smailto:[email protected]?subject=Demande%20d%27informations%20sur%20vos%20activit%C3%A9shttp://www.elton-pickford.com/abonnement-a-nos-etudes-business-model/http://www.elton-pickford.com/abonnement-a-nos-etudes-business-model/http://www.elton-pickford.com/?cat=11http://www.elton-pickford.com/?cat=11mailto:[email protected]?subject=Demande%20de%20pr%C3%A9sentation%20de%20l%27%C3%A9tude%20Echec%20de%20Business%20Modelmailto:[email protected]?subject=Demande%20de%20pr%C3%A9sentation%20de%20l%27%C3%A9tude%20Echec%20de%20Business%20Modelmailto:[email protected]?subject=Votre%20publication%20sur%20l%27%C3%A9chec%20de%20business%20modelmailto:[email protected]?subject=Votre%20publication%20sur%20l%27%C3%A9chec%20de%20business%20model


80/82

Paris Office

Elton-Pickford

3 rue Chauveau-Lagarde

75008 Paris

FRANCE

+33(0)9 50 699 646


Zurich Office

Elton-Pickford DACH Markets

Wolleraustrasse 41b

8807 Freienbach

SUISSE

+41 55 410 14 14

www.elton-pickford.de

http://www.elton-pickford.com/http://www.elton-pickford.com/http://www.elton-pickford.de/http://www.elton-pickford.de/http://www.elton-pickford.com/http://www.elton-pickford.com/


81/82

About the author

Antoine Dumont is associate at Elton-Pickford. He actively participates in the elaboration

of the global strategy and development of the business activities.

He is an expert in economic intelligence and conducts regulary missions on this subjects

for french Ministries of the Interior and the Defense.

Antoine started his career as M&A consultant. He moved as Sales Director in the IT

industry where he worked for large industrial and financial clients (BNP Paribas, Oseo,

Saint Gobain, Rieter Automotive).

He conducts, on a regular basis, speaking engagements on Business Model Innovation. He

contributed to the Blackbook - 10 Innovative Business Models, and wrote several case

studies on disruptive Business Models.

He followed the Executive Program in Management and Strategy to the ESCP Europe.

Acknowledgements

Peter Keates, Yannick Mer iguet, Olivier Gemoets, Franck Louesdon.

Contact :

[email protected]

+33 (0)6 25 55 09 88

@AntoineDmt

Crditphoto(c)201

2KarinePaoli

http://www.elton-pickford.com/http://www.elton-pickford.com/mailto:[email protected]:[email protected]


82/82


businessmodeldofail-10examples-5reasonsen(v2.2).pdf

Documents