We've partnered with Banco Galicia to train their teams in the art of shaping and testing new business models that could add unexpected revenue streams to the company.
Banco Galicia, one of the leading financial institutions in Argentina, has established itself as a cornerstone of the country's banking sector. Founded in 1905, Galicia has a long-standing history of providing comprehensive financial services, including personal banking, corporate banking, and wealth management. The bank is renowned for its commitment to innovation, customer service, and a strong corporate responsibility ethos.
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In a rapidly changing industry marked by technological advancements and evolving consumer expectations, the goal was to help Galicia's team to identify innovative opportunities that would enable the bank to stay ahead of the curve and continue to provide exceptional value to its customers.
To face this challenge, we've trained Galicia's teams in different key concepts that facilitates business designers to come up with innovative approachs for users jobs and pains.
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Types of innovations encompass various approaches to bring new value and improvements to products, services, and businesses. By leveraging these diverse types of innovation, organizations can remain competitive, adapt to changing market conditions, and create sustainable growth.
This is a fundamental concept in business strategy, defining the unique value a product or service offers to its customers. It answers the question, "Why should customers choose this offering over competitors'?" A compelling value proposition helps businesses effectively communicate their unique value to customers, increase market appeal, and drive customer acquisition and retention.
Business Prototyping is a methodology used to rapidly and iteratively test and refine business ideas before implementing them fully. It involves creating low-cost, scaled-down versions of the proposed business model to gather feedback, validate assumptions, and identify potential flaws.
A Portfolio Map is a visual tool used to analyze and manage a company's portfolio of products, services, or projects. It provides a clear overview of the various offerings within the portfolio and helps in making strategic decisions. Portfolio maps help business leaders make informed decisions about resource allocation, prioritization, and strategic direction
A well-defined and innovative business model is crucial for a company's success. It helps organizations understand their market position, differentiate from competitors, and adapt to changing customer demands and market conditions. By continuously refining and adapting the business model, companies can remain competitive and sustain growth in dynamic and challenging business environments.
Types of Fit refers to the alignment and coherence between various elements of a business model. Ensuring different types of fit is essential for a company to create a robust and successful business model. Achieving alignment in these different types of fit is crucial for a business to create a well-integrated and successful business model that can effectively serve its target market and sustain a competitive advantage.
Innovation vs. R&D refers to the distinction between two approaches to drive progress and growth within a company. While they are related, they have distinct characteristics and serve different purposes. While innovation and R&D are distinct concepts, they are not mutually exclusive. In fact, effective innovation often involves a combination of R&D efforts and other innovative approaches to drive growth and success in a competitive market.
Hypotheses play a crucial role in advancing knowledge, driving scientific discovery, and informing evidence-based decision-making. They provide a structured approach to formulating expectations, investigating phenomena, and ultimately contributing to the understanding of various fields of study.
The expected return on an investment is directly proportional to the level of innovation risk taken, as embracing groundbreaking ideas and novel approaches can lead to potentially higher rewards and transformative breakthroughs.
Our primary focus for the workshop was on instilling a mindset of managing an innovation portfolio rather than solely concentrating on innovation return on investment, and we led the participants through a process of fostering innovation through experimentation, enabling them to embrace calculated risks and pursue diverse avenues for optimal growth and success.
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Mastering the art of understanding how to create great and solid value proposition and business models is the key to unlocking sustainable success and staying ahead in today's competitive market
We employed engaging and interactive teaching methods, guiding participants through real-life case studies and practical exercises, to empower them with the expertise in crafting exceptional and robust value propositions and business models for achieving long-term business growth and prosperity.
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