New Age Business Models

Welcome to the course on New Age Business Models!Let's begin by answering this question: Why study New Age Business Models?The need for this course is driven by the rapid pace of change and innovation in the business world. Traditional business models and strategies that may have worked in the past are no longer as effective, and new technologies and emerging trends are constantly disrupting the industry. In order to stay ahead of the curve and remain competitive in the modern business world, it is critical to gain a deep understanding of new business models and strategies that can help businesses succeed.Additionally, with the COVID-19 pandemic and its far-reaching impact on the economy and business, the need for innovative and adaptable strategies is more important than ever before. Every working professional is facing unprecedented challenges and uncertainty in their work, making it essential for them to learn new skills and approaches to succeed in the current climate.Overall, it is driven by the need to stay up-to-date with the latest trends and best practices in management and business, and to adapt to the rapidly changing landscape of the industryKey Takeaways:New age business models change the way businesses operate, challenge the basic measurement and tracking of business, and alter the main levers for performance of businesses. We can create large successful businesses across all sectors using the concepts underlying new age businesses such as network effects, virality coefficient, flywheel effects, demand-side economies of scale, and the use of data on consumer behaviour and deep personalization of offerings. Existing pipeline businesses can benefit from adopting new age business model strategies to compete better, defend their turf, and exploit new opportunities by combining their strengths as strong incumbent companies and learning to leverage newer methods of working. Learning these concepts will benefit everyone, be it the working professional, business owner, budding entrepreneur, those wanting to explore new business ideas, management students, or the retail investor looking into investing in such companies.