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A discussion on business model innovation with Bill Fischer and Alexander Osterwalder

How the Business Model Canvas went from a PhD dissertation to boardrooms

By William A. Fischer

22 min.

February 2019

IMD Professor of Innovation Management, Bill Fischer caught up with frequent IMD collaborator and CEO of Strategyzer, Alex Osterwalder, to discuss the Business Model Canvas, a tool Osterwalder invented to help companies innovate.

In the interview, the experts discuss how the Business Model Canvas began as Osterwalder’s PhD dissertation with Yves Pigneur and grew into a tool that is now being used by companies around the world like MasterCard, Nintendo, and many more.

Learn how a simple but not simplistic framework has helped companies large and small and how Bill Fischer contributed, or not, to its inception.

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Bill Fischer is a Professor of Innovation Management at IMD. He co-founded and co-directs the IMD program on Driving Strategic Innovation, in cooperation with the Sloan School of Management at MIT.

Find out more about Alex Osterwalder, who has spoken at IMD programs like Orchestrating Winning Performance (OWP)

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Research Information & Knowledge Hub for additional information on IMD publications

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MedTech Diagnostics' transformation crossroads

By Michael D. Watkins
Case reference: IMD-2726 ©2025

Summary

The case study examines the organizational transformation challenges faced by MedTech Diagnostics, an 850 million medical diagnostics company attempting to balance innovation speed with regulatory compliance and quality standards. CEO Patricia Chen must navigate the tension between traditional, reliability-focused operations and agile innovation pods, while facing a critical contract renewal worth 187 million that represents 22 of the company's revenue. The case illustrates the complexities of dual operating models in regulated industries. MedTech's traditional divisions generate 120M in EBITDA and are FDA-compliant but are declining at 8 annually. Innovation pods achieve 120 growth and high customer satisfaction but face higher post-market issues and lower FDA approval rates. Hybrid teams intended as a compromise satisfy neither approach, demonstrating the difficulties of organizational ambidexterity. Chen faces three strategic options: controlled evolution over 24 months, creating a separate subsidiary for innovation, or transforming into a platform company. Each option carries significant costs, risks, and uncertain outcomes. The case explores critical organizational design questions, including culture change, stakeholder management, resource allocation, regulatory navigation, and leadership alignment in transformation contexts. Key themes include managing organizational culture during transformation, balancing innovation with quality in regulated environments, addressing internal resistance and political dynamics, developing effective dual operating systems, and making high-stakes strategic decisions under uncertainty. The case is designed for classroom discussion on organizational change, innovation management, and strategic decision-making in complex operating environments.

Reference IMD-2726

Organization MedTech Diagnostics (Fictionalized)

Available Languages English

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