249 Mobilize Understand Design Implement Manage objective Prepare for a successful business model design project Research and analyze elements needed for the business model design eΩort Generate and test viable business model options, and select the best Implement the business model prototype in the fi eld Adapt and modify the business model in response to market reaction focus Setting the stage Immersion Inquiry Execution Evolution description Assemble all the elements for successful business model design. Create awareness of the need for a new business model, describe the motivation behind the project, and establish a common language to describe, design, and analyze and discuss business models. You and the business model design team immerse yourselves in relevant knowledge: custom- ers, technology, and environment. You collect information, interview experts, study potential cus- tomers, and identify needs and problems. Transform the information and ideas from the previous phase into business model prototypes that can be explored and tested. After an intensive business model inquiry, select the most satisfac- tory business model design. Implement the selected business model design. Set up the management struc- tures to continuously monitor, evaluate, and adapt or transform your business model. book sections • Business Model Canvas (p. 44) • Storytelling (p. 170) • Business Model Canvas (p. 44) • Business Model Patterns (p. 52) • Customer Insights (p. 126) • Visual Thinking (p. 146) • Scenarios (p. 180) • Business Model Environment (p. 200) • Evaluating Business Models (p. 212) • Business Model Canvas (p. 44) • Business Model Patterns (p. 52) • Ideation (p. 134) • Visual Thinking (p. 146) • Prototyping (p. 160) • Scenarios (p. 180) • Evaluating Business Models (p. 212) • Business Model Perspective on Blue Ocean Strategy (p. 226) • Managing Multiple Business Models (p. 232) • Business Model Canvas (p. 44) • Visual Thinking (p. 146) • Storytelling (p. 170) • Managing Multiple Business Models (p. 232) • Business Model Canvas (p. 44) • Visual Thinking (p. 146) • Scenarios (p. 180) • Business Model Environment (p. 200) • Evaluating Business Models (p. 212) bmgen_final.indd 249 6/15/10 5:45 PM