There has been a lot of buzz around designing new and innovative business models. But what does it mean to design a new business model? How do you apply design thinking to business model innovation?
The traditional consulting business model is based on two principle ideas: (1) hiring people (top talent if possible) and (2) charging clients a fee per hour or day for gaining access to this talent, its expertise and/or manpower. Depending on the type of consulting or the brand, the pendulum swings more towards focusing on providing, and buying on the customer side, the more sophisticated expertise or the simpler manpower.
The rise of crowdsourcing, crowdfunding, crowdtransporting, crowdletting, etc., has transformed our economy. It has also ushered in the era of the shared economy. Previously marginalized people can now contribute, no matter how small, to all walks of life. It seems to be a fantastic opportunity for the world to access the untapped skill of the crowd. But what about the people whose jobs this makes redundant? Whither the expert?
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.
Where do great ideas come from? Obviously they come from many sources, which means that your systematic innovation process has to support and sustain multiple efforts at ideation in parallel. In the following article we will explore some promising ways that you may be able to find ideas that will take your own business forward.
In this chapter excerpt from The Innovation Formula Langdon Morris explains how to use a map to help you locate your company in the market, to see clearly how it compares with the competition, and then to use this assessment to chart a future path toward success. The goal is to find the very best high reward, low-risk ideas that will change the market, amplify your profits, increase your relevance, and sustain your organization’s viability over the long term.
An increasing number of companies are turning to business model innovation (BMI) as the best option to increase growth and revenues. Since product or process innovation is often expensive and time-consuming with uncertain outcome and ROI, more companies are turning to BMI as the better alternative compared to product or process innovation.
While most companies focus their innovation efforts on new products, others like Amazon and Netflix are disrupting industries with business model innovation –a cheaper, easier and more powerful form of innovation. InnovationManagement.se spoke about business model innovation with professors Netessine and Girotra, authors of the new book “The risk-driven business model”
Seu modelo de negócios deve responder duas questões importantes: (1) Qual é a sua proposta de valor e (2) como você organiza sua empresa e seu ecossistema para criar esse valor. Os oito blocos de construção do formato de modelo de negócios o ajudam a visualizar suas respostas e pensar estrategicamente sobre o seu modelo de negócio.
On May 27th Alexander Osterwalder presented Straegyzer, a new online course to teach you how to design, test, and build business models and value propositions based on the methodology practiced by the world’s leading organizations and ventures.
This article provides a systematic framework for helping executives of large, established organizations identify opportunities for business model innovation and organize themselves to pursue these opportunities. While also applicable to start-ups, this article focuses primarily on how to define, challenge, and revamp the business model of an existing business or organization.
Your business model should answer two important questions: (1) What is your value proposition and (2) how are you organizing your company and your ecosystem to create this value. The 8 building blocks of the business model template help you to visualize your answers and think strategically about your business model.
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.
In 2005, Jim Jannard (founder of Oakley) set up a company called RED Digital Cinema, with the specific aim of creating a ultra-high definition digital camera which would be as good as the 35 mm film cameras. This very successful strategic move that changed the 100 year-old cinematographic cameras industry is analyzed here through the logic of Blue Ocean Strategy – a theory grounded in the concept of value innovation.
Though intensely talked about, open innovation remains a subject matter that both fascinates and creates apprehension among business professionals. In the following interview, Henry Chesbrough, the father of open innovation according to Wikipedia, has sat down with IM.se to discuss a few key aspects of this largely new and challenging innovation model: its evolution, its applicability and most importantly, its essential role in facilitating knowledge creation for the future. He teaches at UC Berkeley’s Haas School of Business, and Esade Business School in Barcelona.