#4 Assessing the Coronavirus’ Impact on Your Business Model

A business model helps to describe how your business creates, delivers and captures value. Whether you are a start-up or an incumbent, your business model needs to be fluid – your strategy needs to consider how your business model might look over multiple time horizons and how it will need to adapt to external shocks.  In the context of COVID-19, it is crucial to assess the impact on your business model, both immediately and over the longer term. I spoke with Prof Thomas Ritter and Prof Carsten Lund Pedersen (Copenhagen Business School) about their framework for assessing the Coronavirus’s impact on your Business Model. Carsten Lund Pedersen is assistant professor at the Department of Marketing at the Copenhagen Business School. Being an expert in autonomy, business development and strategy, his research interests cover data-enabled business development, frontline employees’ behavior, and the role of projects in strategies. His work is widely published, including Harvard Business Review (hbr.org), MIT Sloan Management Review, Strategic Management Review, Industrial Marketing Management, amongst other outlets. He is a highly appreciated executive educator and involved in several applied research projects. Thomas Ritter is professor of market strategy and business development at the Department of Strategy and Innovation at the Copenhagen Business School. He works with customer insight, value creation, market-driven strategies, data-enabled business models, and business development through strategic projects. Current research projects focus on product, service and data integration and business model analysis. His work is widely published, including Harvard Business Review (hbr.org), Journal of Product Innovation Management, Strategic Management Review, Industrial Marketing Management, amongst other outlets. He is a frequent speaker at industry events and highly appreciated executive educator. Further resources: Preparing Your Business for a Post-Pandemic World (HBR.org): https://hbr.org/2020/04/preparing-your-business-for-a-post-pandemic-world Assessing Coronavirus’s Impact on Your Business Model (HBR.org): https://hbr.org/2020/04/assessing-coronaviruss-impact-on-your-business-model?ab=hero-subleft-2 Workbook: https://research.cbs.dk/en/publications/the-impact-of-the-corona-crisis-on-your-business-model-workbook Video: https://cbs.cloud.panopto.eu/Panopto/Pages/Viewer.aspx?id=5ac06562-7228-40d9-95eb-ab8e00b5960d Alignment Squared book: https://research.cbs.dk/en/publications/alignment-alignment-squared-driving-competitiveness-and-growth-th   IMM first paper by Henry Chesbrough: https://www.sciencedirect.com/science/article/pii/S001985012030300X IMM special issue call: https://www.journals.elsevier.com/industrial-marketing-management/calls-for-papers/managing-through-a-crisis-managerial-implications-for-b2b-fi