Course 2024-2025 a.y.

Key topics covered in the course include:

1. Pillars of Business Models in Fashion:
   A deep dive into the foundational elements of fashion business models, including value creation, distribution channels, revenue streams, and cost structures unique to the industry. 

2. Entrepreneurship in Fashion:
   Insights into the entrepreneurial mindset and tools required to succeed in the dynamic fashion industry. 

3. Drivers of Strategic and Business Model Innovation:

   • Sustainability.
   • Technologies
   • Customers
   • Product Offerings

4. Business Planning:
   Comprehensive training in creating business plans that align creative vision with financial and operational goals. Students will learn how to craft strategies that integrate market research, competitive analysis, and risk assessment to ensure feasibility and scalability.

• Identify Key Pillars of a Business Model in Fashion: Understand the core components of fashion business models, such as the value proposition, value chain design, revenue model, and governance structure. Examine how these pillars interact and adapt to drive strategic and business model innovation.

• Analyze Drivers for Growth in Fashion: Evaluate the strategies that enable growth in the fashion industry, including brand and line extensions, vertical integration, international expansion, and the increasing importance of sustainability as a competitive advantage.

• Understand the Importance of Intellectual Property (IP) Protection in Innovation Management: Learn how IP protection supports innovation in fashion 

• Recognize the Impact of Strategic Choices on Economic and Financial Success: Assess how decisions in product design, marketing, go-to-market strategies, and value chain design influence a brand’s economic performance and financial sustainability, emphasizing the interconnectedness of strategy and execution.

• Evaluate Entrepreneurial Potential: Reflect on and assess their personal strengths, skills, and mindset to determine their readiness and potential to succeed as entrepreneurs.

• Assess Strategic Options for Long-Term Competitive Advantage and Growth: Analyze and evaluate strategies that leverage branding, retail development, operations to sustain competitive advantage and economic/financial performance.

• Design and Develop Business Plans: Learn to create detailed business plans that integrate creative idea, market analysis, operational strategies, and financial projections.

• Present and Defend Business Concepts and Plans: Effectively articulate and justify their business concepts and plans to a professional audience, receiving constructive feedback and demonstrating their ability to address questions and challenges.

• Lectures
• Guest speaker's talks (in class or in distance)
• Practical Exercises
• Collaborative Works / Assignments
• Interaction/Gamification

The course begins with introductory sessions (face to face) covering entrepreneurship, business models in fashion, sustainability and business planning techniques, enriched by insights from guest speakers (approximately 30% of the course).

The core of the learning experience involves action learning online through the FAST Business Game Simulation. After the submission of their start up idea, students work in groups, supported by professors in dedicated sessions, to formulate and implement their strategy (60%). The FAST Business Game Simulation offers a unique focus on the fashion industry, enabling participants to experience the impact of key managerial decisions. These include:

• Developing their brand and logo taking care of the trademark registration issues
• Making critical supply chain decisions such as "make or buy."
• Managing the size and scope of seasonal product offerings.
• Allocating advertising budgets.
• Strategizing store openings.
• Evaluating and incorporating sustainability into overall strategy and business processes.

The course concludes with final plenary sessions to dedicated to each group elevator pitch and a competition for the best business idea (10%).

The evaluation for attending students is structured as follows: 70% group-based (the outcome of the FAST business plan simulation) and 30% individual, assessed through a written test.

Students are evaluated on the following criteria:

• Individual Test (30%):

  • Demonstration of knowledge about various business models in the fashion industry.
  • Understanding of growth strategies (brand extension, internationalisation, vertical intergration) and case studies.
  • Insight into the key drivers of sustainability and innovation within the fashion sector.

• Group Assignment (70%):

  • The ability to conceptualize and define an innovative entrepreneurial idea with appropriate protection strategies.
  • The ability to design a coherent and profitable business model tailored to the entrepreneurial idea.
  • Strategic decision-making skills for global expansion and ensuring business economic and environmental/social sustainability.

The evaluation is entirely based on a written individual test (100%), comprising a mix of multiple-choice/answer formats. The test is designed to assess the following:

• Understanding of Business Model Innovation: Knowledge of the concept, supported by relevant examples from the fashion industry.
• Insight into the Creative Process: Familiarity with creative processes in symbol-intensive companies and approaches to intellectual property (IP) protection in innovation.
• Digital Transformation Impact: Ability to evaluate how digital transformation influences business models in the fashion sector.
• Fashion Supply Chain Dynamics: Understanding of how supply chains operate in the fashion industry.
• Sustainability and Investment Evaluation: Awareness of how investors assess the viability and profitability of sustainable business models.

Course handouts and supporting materials communicated as the course starts and uploaded on Blackboard

• Course materials for non attending students available or indicated on Blackboard at the course start

• S.Saviolo, Borney G.M. "The branded supply chain", Bocconi University Press, 2021 (selected chapters: 1-4-5-6-8-9)