Mykhailo Merkulov delivered an open lecture "Break Your Business Model" in EBA Management Development Centre
On May 22 upon an initiative of the European Business Association, Mykhailo Merkulov, CEO of Arricano Real Estate Plc, delivered an open lecture “Break your business model: how to make it effective?”
The participants of the lecture, owners and CEO of companies, top managers, project managers, marketing experts, financial experts - all those who are interested in advanced management technologies and in the introduction of business innovations learnt about the reasons why it is necessary to break their business models, got acquainted with the three most important survival rules in the third industrial wave, analyzed the cases demonstrating how innovations allow breaking through in a competitive environment, clarified what can be used as a fundament for building of a business model.
CEO of Arricano emphasized that changes occur in practically all business models and today every industry is threatened – either it is education, tourism, surgery, automotive industry or retail - because modern technologies are being developed not just quickly, but at a breakneck speed. “The secret of survival is simple: you may become technological or die,” - said M.Merkulov.
The speaker gave an example of changing the Arricano business model: Traffic is a traditional parameter of success of shopping malls, but the real indicator of the welfare of a shopping mall is the tenants’ trade turnover. That’s why, the business model has changed in Arricano - the focus of the development of the strategy has shifted to the tenants’ turnover, while work with the quality of traffic is just one of the tools for increasing the turnover. As the result, the company is developing three times faster than the market, the financial parameters in 2017 increased by 19%.
Mykhailo Merkulov believes that in order to survive in the postindustrial world it is necessary to introduce innovations, to use new technologies in the development of companies. He recommends using three rules in the development of a business model: open your eyes and ears, think big and share.
Since May 30 video recording of Mykhailo Merkulov’s lecture “Break your business model: how to do it efficiently?” will be available on youtube channel ARRICANO LIVE.