Why business model innovation is so compelling

Why business model innovation is so compelling

Gone are the days when size and scale were the predominant factors for corporate success. Today's market demands speed, agility, and innovation - forcing companies to constantly experiment with their business models. While business model innovation is crucial, established companies cannot suddenly change their models and lose good, faithful customers. Companies must strike a balance between the efficiencies gained from existing models and the ability to constantly evolve their models to new competitive realities. Business model innovation is difficult, but companies must examine their models, understand potential weaknesses, and experiment with new technologies and platforms.

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More Innovation Resources:

What You Can Learn From Disgruntled Employees

Empowering employees to collect ideas and contribute to the organization can alleviate disgruntlement and increase satisfaction. Framing the idea collection around specific challenges, setting achievable goals, putting ideas into action, and communicating the successes can improve the sorting and selection of new ideas.

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The advantages of small wins innovation

The Little Bets Book by Peter Sims describes how the small wins approach can help with innovation by taking action, validating and adapting ideas, and building confidence.

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Career Challenges – 6 Ideas when Losing the Love for What You Do

When you start losing interest in your job, try these 6 ideas to regain your passion for your work: partner with someone who loves what you do, add something else you love into your job, do something else entirely, don’t worry about it, keep going out of duty or make a break.

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