Patterns of Business Model Innovation
Consider the examples of Kodak, Blockbuster, and most recently Toys “R” Us - all went out of business because they became complacent, not innovating their business model in time. We should be grateful to Oliver Gassmann and Karolin Frankenberger who in examining several hundred successful business models found that about 90 percent of innovations were the result of re-inventing previously existing concepts.
Their research led to the creation of 55 business model cards each containing a description of “Who” (target group), “What” (value proposition), “How” (value chain) and “Why” (revenue model and cost structure) and examples of companies that have successfully applied the particular business model pattern.
These 55 cards can generate forward looking discussions beginning with this question, “If we apply this pattern to our company, what would that mean to the way we run our business?”. These discussions are sure to deliver great ideas which can in turn successfully innovate the business model. What’s holding you back?
Business Model Innovation Whitepaper
For further insight into innovative business models and how they can be used to achieve growth for your organization why not download our free new whitepaper? Entitled 'Reaching higher than the Alps', the whitepaper takes an in-depth look at how to create growth through a structured process of challenging and innovating your business model, and it's packed with good advice and practical tools based on some of the smartest people in the world within the field of strategy and business development. Please click below to download your free copy: