Key Activities your Business Engages in

Business Model Innovation

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Course Modules

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Module 1	Business Model Innovation
Unit 1	Business Model Innovation Pretest
Unit 2	Define your Customer Segments
Unit 3	Define your Value Proposition
Unit 4	Channel Strategies
Unit 5	Customer Relationship Types
Unit 6	Key Revenue Streams
Unit 7	Key Resource Types
Unit 8	Key Activities your Business Engages in
Unit 9	Key Partnerships
Unit 10	Important Cost Structures
Unit 11	Business Model Innovation Posttest

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Unit Video

Unit Summary

The 3 key activities that your business engages in:

Production Activities
Problem Solving
Platforms

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Transcript

Hi, in this video you will know how to summarize the key activities in your business.

There are many daily tasks that are done within the business, but it is always important to be clear about what are the key activities that need to be conducted within the business to deliver on the value proposition that you are promising your clients. By identifying these activities, it would help you to prioritise the efforts taking place in your business.

Some of the common activities in a business include:

Production activities which focus on the design, manufacturing and delivery of a product or service – common in manufacturing
Problem solving which cover a lot of services businesses that work on addressing customer problems
Platforms bring together users and clients on a common space for them to interact – Credit card companies, Software platforms, and online merchants are examples that have platforms as a key activity

Reviewing your key activities and improving the performance is an essential part of innovating a better product or service to your clients.

Case Study

Julie knows that her most important activity over the coming period is great marketing and branding of her app and great customer service to the schools that are buying the app. She knows that she would need to organize a roadshow to explain the system and train administrators in the school on how to use the system.

Quotes

Never mistake activity for achievement. John Wooden