A pattern is a combination of qualities, acts, or characteristics forming a consistent arrangement.
A system is a set of things—people, cells, molecules—interconnected in such a way that they produce their own pattern of behavior over time. It’s an interconnected set of elements that is coherently organized in a way that achieves something.
An Activity System Map provides an elevated view of the business by capturing the strategy and tactics, and the relationships between the two, on a single page.
A platform is a foundation comprised of a product, service, technology, or system on which other complementary offerings can be built.
A business model is a structural description of how the organization creates, delivers, and captures value. The three phases of the business model and their components include:
Phase 1: Value Creation
Core competency: Primary area of expertise (what you know) Capabilities: Activities performed with key resources (what you do)
Value proposition: Rationale for the offering (customer, need/ job, approach, benefit)
Phase 11: Value Delivery
Value chain: Configuration of capabilities to provide value (how you do it)
Channels: Customer access points for offerings (where you offer it)
Phase III: Value Capture
Price: Amount customers pay for the offering
Revenue: Price multiplied by volume sold
Cost: Expenditure of resources to provide offering
Profit: Revenues minus costs
A Strategy Spectrum is comprised of six levers:
- 1. What: Offerings (products/services)
- 2. Who: Potential target customers
- 3. Why: Customer need or job fulfilled
- 4. Where: Channels to access offerings
- 5. When: Time of access to offerings
- 6. How: Activities
The Value Mining Matrix considers both customers and jobs to catalyze thinking on methods for creating new value.
Innovation is creating new value for customers.
There are 14 different types of innovation used strategically depending on the stage of market maturity the business is in.