The systematic understanding of Business Model Innovation design
Business model innovation is shaping up to be one of the most challenging aspects of leadership of existing businesses and aspiring leaders do need to fully understand how to map out the business value.
The question today being faced by many is how to transform existing business models so as to avoid that race to commoditization and decreasing shareholder value and so to provide improved value.
Equally business model innovation increasingly needs to be able to reduce the threat of new competition that is constantly finding ways to undermine your present business. The Entrepreneur is snapping at your heels like never before.
Leaders need the tools, skills and experience to envision, test and implement new business models more than ever and certainly faster than ever.
The worrying aspect today it seems is that many leaders are still not knowing what it is within their existing business model that ‘combines’ to make the existing profit engine of the business, those ‘value points’ that really provide the innovation opportunity to sustain or challenge their existing business models.
So what is Business Model Innovation?