In preparation for the In-Residence, watch the four short video clips below (less than 15 minutes total). The first video, "What is a business model" explains the major components of a business model. Whether you plan to develop a start-up that inspires innovation or you want to reinvigorate an already established department or organization, creating a business model might help. As the first video notes, "modern business is a continual re-evaluation" and thus, business model planning is not just for start ups. The second and third videos describe a specific tool for business planning called the Business Model Canvas. Finally, the fourth video, "How do you implementbusiness plan?" is a slightly different style from the business model canvas. You may prefer this approach.

For the discussion this week, consider the concepts and information in the videos. Then, appraise where you already feel confident and predict in which areas you might need more training in order to feel prepared to start your own business (or reinvigorate an existing department or organization). Remember, this is not just any kind of business; your job will be toanalyze culture of innovation in a chosen start up or existing organization. Finally, design a plan to identify resources you might use to develop in these areas.