The Business Ways

Business model innovation is task one for success in the 21st century. Yet most organizations have a broken process for doing such innovation. This article provides questions that can quickly fix your broken business model innovation process.

Almost every business keeps first-aid kits available to help injured people recover from accidents. It’s only common sense.

Yet few of these businesses know how to treat a broken business (or strategy) model innovation process. With these questions, you’ll have just the first aid you need to recover from broken processes. Then, you can return your business to health and prosperity.

Share This

Business model innovation is most likely to succeed with small, low-cost, low-risk tests precede choosing a new direction.

Starting with tests of business model innovation is always a better idea than simply implementing a new idea. Specify that each test must reasonably provide reliable information about:

(1) how much ultimate consumption and intermediate demand changed as a result of the test

(2) whether these changes in consumption and demand are likely to be permanent to the same degree

(3) operational problems that the test created along with suggested solutions

(4) effects on costs due to the test

Share This