Abstract
This teaching case studies the remarkable history of GVT, former Brazilian telecom company acquired by Telefónica Vivo after revolutionized the telecom industry in Brazil throughout its 15 years of operation. Telecommunications is an industry sector that faces constant turbulence, due to the fast-paced technological innovation and fierce competition, that forces the reinvention of business models in order to make companies thrive. Aimed at students from Masters and Doctorate programs in Administration, this case is useful for helping the professor to discuss in class about business models in a dynamic environment, as is the case of telecom industry. The learning objectives are to make participants able to comprehend features and limitations of traditional concepts of business models, guiding to the discussion of an alternative framework suitable to a dynamic environment context. The professor should cover the aspects of strategy of differentiation, consistent execution, process management and learning capabilities.