Leading CEOs worldwide expect major changes to their company’s business model until 2020. As a consequence, organizations are currently about to realize that, today, business model innovation has become as important as technological innovation. However, developing new and viable business models still represents a serious challenge for large incumbent firms despite their resources, know-how, and key technologies. This article provides 10 guidelines for mastering business model innovation challenges in established companies.
In this article Dr. Stephen Sweid is sharing a few secrets of the analogy method that has been refined throughout the years. Suggested techniques render this method more user friendly, but also allow it to generate WOW type new ideas that are more compatible (for integration) and that work in the real world, e.g. in the market.
Most “new” business models are not really “new”. Very frequently they are based on replications or re-combinations of existing business model patterns. Consequently, learning from business models from other companies and industries is a very important source of inspiration for business model innovation.