Designing Business Models in Industry 4.0

The course introduces the concepts, tools and principles of business model design aligned with the concept of Industry 4.0 and offers a hands-on approach to understanding, designing and testing business models.

Upon completion of the course students will be able to: - Explain the importance of business models for creating value and driving successful ventures in the modern economy. - Describe, compare and critically consider different approaches to business models. - Analyze and critically evaluate existing business models. - Design and present business models of innovative and sustainable ventures in I 4.0 - Understand the importance of disruptive innovations in I 4.0 and - Design and improve all elements of business model templates on the basis of market success.

Business model as a concept. Creating value and the success of new business ventures in I 4.0. Elements and types of business models. Business Model Innovation for Industry I 4.0. Issues of patentability and market potential of the invention. Development and refinement of business model generation templates. Creating and evaluating values ​​in a business model generation template. Development of consumer segments and relationships. Lean start-up methodology. Disruptive innovation. Financial indicators of the subsequent models. Intellectual property, key performance indicators and '' Pitch '' (how to impress an investor).

Creating innovative projects and businesses proposed by students divided into groups, containing the following elements and requiring computer tools: Business Development Plan; Issues of patentability and market potential, Assessment of environmental and social effects of the project, Assessment of technological readiness level, Intellectual property rights, Development and refinement of business model generation models - Business Model Canvas / Lean Canvas, Presentation - Pitching, and Financing / Cost Issues.

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Handouts and Tutorials.

Total assigned hours: 90

New material: 25
Elaboration and examples (recapitulation): 20

Auditory exercises: 0
Laboratory exercises: 20
Calculation tasks: 0
Seminar paper: 0
Project: 10
Consultations: 0
Discussion/workshop: 0
Research study work: 0

Review and grading of calculation tasks: 0
Review and grading of lab reports: 3
Review and grading of seminar papers: 0
Review and grading of the project: 2
Test: 5
Test: 0
Final exam: 5

Activity during lectures: 10
Test/test: 20
Laboratory practice: 20
Calculation tasks: 0
Seminar paper: 0
Project: 20
Final exam: 30
Requirement for taking the exam (required number of points): 30

Osterwalder, A., & Pigneur, Y. (2010). Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley & Sons; Vom Brocke, J., & Rosemann, M. (2010). Handbook on business process management. Heidelberg: Springer.; Rakonjac, I., & Spasojević Brkić, V. Identifying and Categorizing Risks of New Product Development in a Small Technology-Driven Company. Technology Entrepreneurship. Springer, Cham, 2018. 71-98.; Mazzarol,T.,Reboud,S.,Limnios,E.M.,Clark,D.(2014).Research handbook on sustainable co-operative enterprise:Case studies of organisational resilience in the co-operative business model.EdwardElgarPubl.; Pokrajac, S. (2010). Preduzetništvo - izazovi i putevi kreativne destrukcije privrede Srbije. Beograd: Mašinski fakultet.