The authors offer a tool to assess the coronavirus’ impact on your business model, as well as to identifying potential opportunities and suitable risk responses. To start, you’ll look at the four core dimensions of your business model: customers, value propositions, value demonstrations, and capabilities. Next, you’ll analyze the connections between these dimensions. Then, you’ll define realistic objectives for your organization during and after the crisis. You may potentially want to consider different objectives for different crisis scenarios (such as fast crisis recovery vs. long lockdown period).
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When a crisis like the coronavirus pandemic hits an organization, its executives need to assess the impact on their business model, both immediately and over the long term. A framework we’ve developed over a decade of teaching can help executives identify the business-model risks and opportunities that the crisis presents.
