Crafting Business Models and Strategy: The Balancing Act Must Be Perfect

Hosted by UMass Lowell Innovation Hub

This session will help managers and entrepreneurs understand the difference between a business model and strategy.About this Event

Strategy and business models are two distinct, but interrelated constructs, yet managers and entrepreneurs continuously confuse the two, use the two ideas interchangeably, and often fail to understand the simple relationship between these two complex dynamics.

However, one thing is certain - organizations that want to succeed need to develop both a well-defined business model and a robust strategy. What is also notable is that this balancing of business model and strategy is not the purview of just mature organizations or start-ups – it is a consideration that all organizations need to address.

By using well-known companies, from across a wide range of industries, this session will help managers and entrepreneurs in several regards: First, it will offer a clear distinction between a business model and strategy. Second, it will provide a framework for understanding the interplay between the two ideas.

Finally, it will help session attendees extend these ideas into their context to help their organization better define these critical strategic ideas.

Presented by Scott Latham, Ph.D., Business Policy and StrategyAssociate Professor, Strategy, Manning School of Business , University of Massachusetts Lowell.