- Hoorcollege 1: Introductie
● Future of corporations and economics of purpose (Mayer)
● Lean start-up method (Leatherbee)
- Hoorcollege 2: Context
● Consequences of participating in sharing economy (Köbis)
● Impact entrepreneurship: solution to grand challenges (Markman)
● Introducing a sharing economy (Esposito)
● Create shared value (Porter)
● Become a better corporate citizen (Nooyi)
● Corporate sustainability and Corporate responsibility (Bansal)
- Hoorcollege 3: Business Models
● Difficulties of hybrid business model CaféDirect (Davies)
● Evolution of platform business models (Zao)
● Circular economy business model (Hopkinson)
● Business model strategy and innovation (Teece)
- Hoorcollege 4: Waardecreatie en verdienmodellen
● Stakeholder theory perspective (Freudenreich)
● Research framework for business models (Cachon)
- Hoorcollege 5: Impact en meting
● Net positive manifesto (Polman)
● Overselling sustainability reporting (Pucker)
● Balanced scorecard and strategy (Kaplan & Norton)
- Gastcollege 6: Financing
- Boek: BMT (Jonker & Faber)
● H1 Triple Transition
○ Definition-, Design- and Result stage
● H2 Business modelling
● BMT Definition stage
○ H3 Motive and context
○ H4 Dream
○ H5 Value proposition
,HC1: Introduction
Societal transitions
1) climate change
2) energy
3) circularity
- inclusivity as social dimension of 3 transitions
Planning
Lean-startup method
- problem: not enough information for optimal business idea
- solution: help early-stage teams iterate business ideas
1) formulate hypotheses: in nine areas of the business model canvas
2) probe each hypothesis: interviewing stakeholders
3) iterate business ideas: in response to external feedback
4) converge on a business idea: feasible and viable
Gastcollege Sustainables
Wegwerpplastic van laboratoria verzamelen, schoonmaken, herverpakken en
terugleveren; hergebruik i.p.v. nieuwe materialen; circulariteit → minder afval;
service/dienst
Gastcollege Ondernemen
1) Golden Circle: What, How and Why
2) Team journey: innovative idea → problem/solution fit → product/market fit
3) Risk reduction: idea must be feasible, desirable and viable
4) Iteration is key: business design and testing
5) Understand the problem
- customer segment: gains, pains and customer jobs
- value proposition: gain creators, pain relievers → product/service
6) Business Model
Future of corporation and Economics of purpose (Mayer)
Introduction
- future concern around 3 issues: environmental degradation, inequality and mistrust
● exacerbated by coronavirus pandemic
● reconsideration of capitalist system and role of business
- start from fundamental question why business exists and is created and after that consider
changes and future of corporations
- Friedman: only social purpose of business to increase profits → discarded
- stakeholder-shareholder debate: stakeholder theories part of a win-win in which promoting
stakeholder interests contribute to company success of all its parties, including shareholders
● wrong framing; first define corporate goals and then the contribution of parties
Purpose
- efficiency management engages in a zero sum game: static efficiency in which profits come
at expense of employees and wider society
● promote collective action coordinated by corporate purpose as value creation
- purpose: goal for firm that reaches beyond profit maximisation; way of solving problems
with profits only as means for a greater end
● enhances well-being and profits only legitimate if it doesn’t disadvantage any party
- Novo Nordisk: manufactures insulin to treat diabetes type 2
● sell insulin, but also work with doctors and universities to identify the best treatment;
from curing diabetes to preventing as purpose
○ prevention undermines business model and profits? no, the exact opposite,
because it made the company a trusted and committed supplier
1) clarity about a company’s purpose
2) commitment to purpose is beneficial for company and customers
Governance
- pharmaceutical industry high development investments, but minimal marginal costs
● optimal price close to zero, but in practice high prices because of monopoly positions
making medicines unaffordable
- public good provision (pharmacies) closely associated with infrastructure provision
● public ownership or private ownership with strict regulation → lower
performance
- void between market efficiency and regulatory effectiveness
● regulators are less well informed than the companies that are regulating; privatisation
as barrier for more efficient firms to enter the market
● companies became intangible in the form of brands/reputation/knowledge
→ traditional regulation unreliable and irrelevant
, ● companies dependence on supply chains, society and environment
increased → market protection towards incorporation of
social/environmental concerns
● economies of scale with large multinationals made regulatory systems less powerful
to cope with markets they are regulating
→ result of the void: governments and regulation become increasingly incapable
of correcting growing market failures
Ownership
- one reason of business failure is the way in which we conceive its ownership
- outdated ownership: corporate ownership and personal property of shareholders
1) shareholder investment diminishing role, because companies depend more and more
on third parties (human/intellectual/social assets) that are not financed by investors
2) dependence of-, but also impact of third parties increases; Amazon’s supply chain,
Google on society and energy companies on their environments
- from shareholder investments towards upholding interest of external parties on which
companies depend and impact
● from ownership that excludes others towards ownership of responsibility that includes
others by having impact on local/regional/global community
● market failure reflects failure to identify the nature of ownership
- more market activity because of corporate responsibility also increaces chance of market
failures
● need to forge partnerships with these other parties, but most
relationships, like social and environmental promises, are intangible in
nature → commercial interest, but lack of control
○ intensified by competition in goods/services, but also competed
ownership and control → hard to commit to corporate responsibility
- lack of control
● hostile takeover: acquire companies in their entirety to get control
● hedge fund activism: investors exert control over firms by buying blocks of share
● both undermine the ability of board and go beyond them to reach other parties
- personal → corporate ownership brings greater responsibilities and rights of
ownership that impacts business performance as well as society
Reform
- how to reform companies to internalise externalities and market failures of future
companies that take responsibility of its customers
● company is a product of law, so law can define the future corporation → 8
principes to reform businesses
1) company law: to make purpose of firm’s objectives and duties of directors
2) regulation: align purpose with social licenses to operate in regulated sectors
3) ownership: to be responsible for the enactment of purpose
4) corporate governance: to make the board accountable for delivering it
5) measurement: evaluate the resources required by the firm’s purpose
6) performance: report profits in relation to a company’s purpose
7) finance: provide funding based on scale, duration and risk of purpose
8) investments: to be made in partnerships to deliver the purpose
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