We Are Open - Solutions for Business Models Amid Crisis

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Many companies throughout all sectors are affected by the current coronavirus pandemic. In order to survive crises such as these, individual adjustments of the business model are often necessary. Experience from past crises, such as the financial crisis, shows that the systematic modification of the business model is a particularly promising strategy in times of crisis. However, adapting their business model is a great challenge for many companies and is accompanied by enormous changes. Some companies have adapted their business model to the current crisis or did so in past crises. Other companies that are still looking for ways to adapt their business model in times of crisis can learn from these companies today!

The Institute for Technology and Innovation Management of RWTH Aachen University, RWTH TIM for short, has collected adaptations of business models, so-called business model patterns, from current and past economic crises, analyzed them from a scientific point of view and refined them for companies. This is an excellent resource for companies to specifically search for existing options to solve their current problems or to be inspired to come up with their own solutions. The refined business model patterns assist companies with concrete examples as well as tips and tricks for implementation. Our website also acts as a platform for affected companies to exchange experiences and ideas. All business model patterns are available on the We Are Open website.

With the generous support of Hyvee, we are currently holding a Crowdsourcing Competition to gather further business model patterns. Please help us to support companies during the pandemic and share with us any adjustments to business models that you have observed or implemented yourself.