Business model innovation is job one for organizational leaders. But what is that job?
Let's consider first how learning and improvement optimally take place.
In the last several years, Russian athletic coaches and trainers learned something very profound. Athletes could dramatically improve their performances by spending half their time thinking about perfect performance and half their...
What's involved in business model innovation? You simply need to focus on opportunities that usually pay off.
Let's imagine that your children operate a lemonade stand in front of your house one day. You provide the supplies and help with the preparations.
Let's assume that you want to help your children offer a better value at the current price. You could improve the quality or...
You need to know what a business model is. Let's consider a child's lemonade stand to help with your understanding.
Assume you are a parent of two children who set up and operate a lemonade stand in front of your house one day. You provide the supplies and help with the preparations.
Business models contain seven dimensions that define how well your organization is positioned to serve...
Business models contain seven dimensions that define how well your organization is positioned to serve customers and defeat the competition. Here is the list:
1. "Who?" defines all the stakeholders you are serving or affecting.
2. "What?" describes the offerings and their benefits and negative influences that affect each stakeholder.
3. "When?" captures the timing of offerings' effects...
For new products, becoming just good enough can be the enemy of greatness. The pressure to get to market will often cause a new product to provide fewer benefits than it might have. If getting to market is the key issue, providing fewer initial benefits is a good decision.
You can always put more benefits into a "new, improved" version down the road. But, if you lose sight of what should be...
Let me caution you that, of course, no one knows what will happen next week, much less in 2035. If we add the uncertainty of estimating four centuries worth of progress, clearly we are in the land of make-believe. But make-believe can be fun (and instructive too)! Let's take a look.
If longevity were to improve by half a percent a year for 400 years, someone with a life expectancy now of 75...
Let me ask you an unexpected question: How would you like your life to be in 2035?
The happy ending is our national belief.
-Mary McCarthy
This is a very interesting question. Why? By setting some goals for what you want from life, you can begin to take actions that will improve your circumstances, even if circumstances are very challenging. For instance, you might:
-Keep track of...
A good business model provides benefits to all of its stakeholders more effectively than existing competitors or new entrants can. Here are six common ways to provide a greater array and volume of stakeholder benefits:
1. Help your customers add customers for themselves faster than their competitors.
2. Stimulate industry growth through providing more benefits and fewer drawbacks at the...
When Gundolf Schmidt was born in 1969, his parents and older brother lived with his maternal grandmother in Germany. Until Mr. Schmidt was six that family closeness continued: His father was busy building a home in his nearby hometown, and that's a slow process . . . but a rewarding one.
Emulating this parental example, Mr. Schmidt also built his own home after he was grown. Naturally, he...
Blinded by misleadingly reassuring memories of past successes that are buttressed by spreadsheet promises of prosperity, company leaders often grope their way into unseen danger and disaster. At best, they just waste their time and some money. Meanwhile, the company executives overlook vast, reliable paths to future success all around them.
One secret of advancing toward the ultimate...
