A new course on innovation is being launched at Ashridge Business School.
The Berkhamsted-based centre of excellence says Ashridge is the first UK school to focus a course specifically on business model innovation.
Managers will be helped to create new businesses and transform existing ones. The business school reckons this task is vital in a low growth economy.
Andrew Campbell, course director and director of the Ashridge Strategic Management Centre, said: “Business model innovation is a new frontier in management. While many companies have processes and skills for developing new products and new markets, few have a well-honed capability for developing new business models.
“The problem is often over commitment to the existing business model. I cannot recall a single business review meeting or a strategic plan review I have attended where the business model was laid out for examination and challenged to see if there is a better way.
“Adapt or die is a trite statement. But many managers fail to adapt because they do not know how to create a new model to fit the new circumstances: they are held back by operating practices they do not know how to challenge. Woolworths failed because it was caught in the middle between small focused retailers and large grocers.”
Participants will learn to challenge models and create new businesses. The course focuses on five aspectsl and asks if they can be changed, automated, outsourced or decentralised.
The course runs from November 19-20 and is for innovation and development specialists, finance, marketing and operations managers, consultants and those responsible for growth, innovation or new business development.