The Magic Triangle: When To Innovate Your Business Model

Posted by Michael Lindberg on Jul 2, 2018 10:50:54 AM

when to innovate your business model

Two Magic Triangles From Switzerland

For chocolate lovers, Toblerone truly is a magic triangle. But there is another magic triangle, also “Made in Switzerland”: The business model innovation tool developed by Oliver Gassmann and Karolin Frankenberger, professors at the University of St. Gallen.

 

What makes this tool so magical? It’s simple and yet comprehensive, but first and foremost it comes with a well-researched list of 55 business model patterns. These patterns ignite great discussions, challenging the current business model, but also providing well-structured thoughts on innovating the business model to surpass your competitors.

 

When is the best time to innovate your business model? Watch for these signs:

  • Your products have been commoditized
  • Your industry faces declining margins
  • Your metric “Sales attributed to new products” is decreasing
  • Your customers are being over-served
  • Your industry is changing faster than your ability to keep up with the competition

Are you watching for these changes? 

 

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: 

 

DOWNLOAD

 

Topics: Change, Business Model Innovation