Business Model Innovation: From Understanding the Process to Tracking the Change
Business Model Innovation: From Understanding the Process to Tracking the Change
The Framework of Business Model in the Context of Industrial Internet of Things
The purpose of this article is an attempt to develop the concept of a business model dedicated to companies implementing technologies of the Industrial Internet of Things. The proposed concept has been developed to support traditional companies in the transition to the digital market. The study was based on the available literature on the impact the Industrial Internet of Things has on the economy and business models.
The Cambridge Business Model Innovation Process
Organisations increasingly understand that meeting their sustainability ambitions does not only require new technologies, but innovation on the business model level. To facilitate the design of more sustainable business models, a range of new tools and techniques have been developed. While this resulted in the design of a wide range of promising business models, only very few are successfully implemented. The Cambridge Business Model Innovation Process is a framework developed to guide organisations’ business model innovation efforts and map the necessary activities and potential challenges. In this paper, we introduce the framework and present an exploratory attempt of applying it to a social start-up. The preliminary result of this experience led us to build a comprehensive research agenda that aims at developing tools and processes to help organisations in bridging the design-implementation gap in sustainable business model innovation.
Business model stress testing: A practical approach to test the robustness of a business model
Business models and business model innovation are increasingly gaining attention in practice as well as in academic literature. However, the robustness of business models (BM) is seldom tested vis-à-vis the fast and unpredictable changes in digital technologies, regulation and markets. The evaluation of the robustness of a BM raises several issues, such as how to describe the business model in a structured way, how to determine a relevant set of changes to test against, how to assess their impact on business model components, and how to use the results of the assessment to strengthen the business model. In this paper, we propose business model stress testing as a practical approach to evaluate the robustness of business model components. The method builds upon concepts from business model innovation and scenario planning. We illustrate our approach using a case example. Our approach enables testing individual business model components as well as the interrelation between components. The approach visualizes challenges and suggests ways to increase the robustness of BM. The stress testing approach is particularly useful in a stage of business model experimentation, i.e. if a company has to choose between alternative business models or still has to implement the business model. The underlying software tool is openly available for reuse and further development. The paper contributes to futures research literature by delivering the first method that allows to test the robustness of business models against future uncertainties.
Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers
Business Model Generation is a handbook for visionaries, game changers, and challengers striving to defy outmoded business models and design tomorrow’s enterprises. If your organization needs to adapt to harsh new realities, but you don′t yet have a strategy that will get you out in front of your competitors, you need Business Model Generation. Co–created by 470 Business Model Canvas practitioners from 45 countries, the book features a beautiful, highly visual, 4–color design that takes powerful strategic ideas and tools, and makes them easy to implement in your organization. It explains the most common Business Model patterns, based on concepts from leading business thinkers, and helps you reinterpret them for your own context. You will learn how to systematically understand, design, and implement a game–changing business model––or analyze and renovate an old one.