2. Learning Objectives
2
Summarise current business models through
the Business Model Canvas
LO1:
Identify the role and value of innovation in
business modelling
LO2:
Compare and contrast between the 4Ps of
innovation
LO3:
Summarise organisation values into the Value
Proposition Canvas
LO4:
5. 1.2 Innovation Funnel
• The innovation funnel is a graphical representation of the flow
or process of innovation.
• There are 4 parts to the process:
1. Ideas
2. Criteria
3. Finetuning/Testing
4. External Environment
5
6. 1.2 Innovation Funnel
• The funnel shape is easy to use and therefore is also often
used by organisations that specialise in more than one
industry.
• The Innovation Funnel doesn’t help to establish the
requirements for developing a new product or service.
6