Reference no: EM131010074

1. Visit the following webpage and register using your email address to gain permission to download the +30 Business and Revenue Model Examples. https://www.boardofinnovation.com/business-revenue-model-examples/

2a. Using the approach that Board of Innovation uses to design revenue models (the charts connecting the business with delivery of various products or services in exchange for revenue or other value), draw a revenue model for a well known local business. The can be located in your hometown or anywhere else, but you will need to know enough about the business to understand its revenue model. Use any tool you wish (even pen or pencil) to sketch up the business's current revenue model. Be sure to label it similarly to the Board of Innovation examples.

2b. Using examples of innovation revenue models you found in articles or on Board of Innovation website, sketch up an entirely new revenue model that fundamentally changes the way the business generates revenue. The key is to think strategically - how can you change the revenue model to give the business a competitive advantage? As you will see with the example models, there are model patterns that create several sources of revenue, along with other exchanges that do not involve currency but access to customers or partners, that take create diverse and expansive sources of revenue that can lead to amazing profit potential.