Business models
Here you will learn about two companies and their business models.Then you will brainstorm ideas to create an environmentaly friendly business.
LET'S START!
The buisiness model
Índice
A Colombian business
Learn about IKEA
Take a quiz
Other businesses
Your idea!
NEXT
WATCH THE VIDEO
QUIZ
QUESTION 1/5
What is the primary reason for IKEA’s winding store layout?
To encourage customers to spend more time in the store
To create an efficient exit route for customers
To make the store appear larger
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 2/5
Why does IKEA ask customers to build their own furniture?
To give a sense of accomplishment and attachment to the product
To reduce the cost of manufacturing and shipping
To discourage returns and promote people's creativity
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 3/5
What is the “IKEA effect” as described in the video?
Customers believe their self-assembled products are more valuable
Customers prefer to buy pre-assembled products
Customers prefer IKEA products because of the DIY aspect
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 4/5
How does IKEA determine the price of some of its products, like the $1 LED light bulb?
By setting a price and then designing the product to meet that price
By surveying customers on what they are willing to pay
By comparing prices with other brands and competitors
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 5/5
What was one of IKEA’s key innovations that contributed to its global success?
Opening stores in high-traffic urban areas where many people can access
Inventing flat-packing to reduce shipping and transportation costs
Developing a modular furniture system
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
Big companies are built on successful business models that include a clear vision of the product or service offered, a strong value proposition, a well-defined target customer, and a well-structured plan to manage costs and generate revenue. In addition, an effective business model considers key elements such as distribution channels, customer relationships, key resources, and strategic partnerships. It also requires continuous innovation and adaptation to respond to market changes and customer needs. A solid business model not only explains how a company creates value, but also how it delivers and captures that value in a sustainable way. Read the following information about how IKEA’s business model is designed.
NEXT
NEXT
Watch the video and share your answers with your group:
- What item are they reusing-repurposing?
- What is the new item they are producing?
- Was it a very innovative idea?
- Is the new item a single-use one?
- Would you buy the item they sell?
NEXT
Which companies similar to Sajú can you think of?
- What product do they reuse-repurpose?
- What product or service do they sell?
- Who are the usual customers?
- How do they sell their product?
YOUR OWN PRODUCT
Now, you're ready to start thinking about your own business
Imagine you are a group of entrepreneurs. You need to develop a business idea that contributes to sustainability. You will do that by reusing or repurposing some items.
NEXT
YOUR OWN PRODUCT
BRAINSTORMING
- What new product could you create by reusing or repurposing other things?
Make a decision, choose only one idea and start creating your business model. To do so, include similar information to the one about IKEA (product, value proposition, customer segment, costs, and revenues).
NEXT
You may also include this information about your product:
- How would it be built?
- who would use it?
- what benefits will it bring to the customers?
- How can it be sold?
- Where and when will it be available?
- Why is your idea sustainable?
WE'RE DONE!
ENVIRONMENTAL BUSINESS MODELS
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Transcript
Business models
Here you will learn about two companies and their business models.Then you will brainstorm ideas to create an environmentaly friendly business.
LET'S START!
The buisiness model
Índice
A Colombian business
Learn about IKEA
Take a quiz
Other businesses
Your idea!
NEXT
WATCH THE VIDEO
QUIZ
QUESTION 1/5
What is the primary reason for IKEA’s winding store layout?
To encourage customers to spend more time in the store
To create an efficient exit route for customers
To make the store appear larger
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 2/5
Why does IKEA ask customers to build their own furniture?
To give a sense of accomplishment and attachment to the product
To reduce the cost of manufacturing and shipping
To discourage returns and promote people's creativity
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 3/5
What is the “IKEA effect” as described in the video?
Customers believe their self-assembled products are more valuable
Customers prefer to buy pre-assembled products
Customers prefer IKEA products because of the DIY aspect
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 4/5
How does IKEA determine the price of some of its products, like the $1 LED light bulb?
By setting a price and then designing the product to meet that price
By surveying customers on what they are willing to pay
By comparing prices with other brands and competitors
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
QUIZ
QUESTION 5/5
What was one of IKEA’s key innovations that contributed to its global success?
Opening stores in high-traffic urban areas where many people can access
Inventing flat-packing to reduce shipping and transportation costs
Developing a modular furniture system
QUIZ
¡you are right!
NEXT
QUIZ
THAT'S WRONG!
TRY AGAIN
Big companies are built on successful business models that include a clear vision of the product or service offered, a strong value proposition, a well-defined target customer, and a well-structured plan to manage costs and generate revenue. In addition, an effective business model considers key elements such as distribution channels, customer relationships, key resources, and strategic partnerships. It also requires continuous innovation and adaptation to respond to market changes and customer needs. A solid business model not only explains how a company creates value, but also how it delivers and captures that value in a sustainable way. Read the following information about how IKEA’s business model is designed.
NEXT
NEXT
Watch the video and share your answers with your group:
NEXT
Which companies similar to Sajú can you think of?
YOUR OWN PRODUCT
Now, you're ready to start thinking about your own business
Imagine you are a group of entrepreneurs. You need to develop a business idea that contributes to sustainability. You will do that by reusing or repurposing some items.
NEXT
YOUR OWN PRODUCT
BRAINSTORMING
- What new product could you create by reusing or repurposing other things?
Make a decision, choose only one idea and start creating your business model. To do so, include similar information to the one about IKEA (product, value proposition, customer segment, costs, and revenues).NEXT
You may also include this information about your product:
WE'RE DONE!