What do Amazon, Uber, Airbnb and Netflix have in common? These companies did not invent a new technology or a new product. Instead, they built their success on designing an innovative business model by redefining the traditional ways of creating, delivering and capturing value. Business model innovation involves changing the fundamental logic of how the company does business and the value it creates for customers. Finding the right kind of business model is equally relevant for established companies as well as for entrepreneurs. If done sucessfully, the result of business model innovation is often the same: redefining the "rules of the game", which in some cases can disrupt entire industries. But that are the factors that contribute to successful business model innovation? As an entrepreneur, how can you create and deliver social or commercial value for your customers, while making a profit? How can maangers of an established company assess when it is time to change their business model and which direction they should take? In order to answer these questions, we need to develop a good understanding of the nexus between business models, strategy, entrepreneurship and innovation - and how to apply it in practice.