By Saul Kaplan
Business version innovation is the hot strategic relevant for all leaders
Blockbuster's executives observed Netflix coming. but they caught with their bricks and mortar enterprise version, wasting billions in shareholder price. They have been "netflixed." enterprise versions do not last up to they used to. traditionally CEO's have controlled a unmarried company version over their whole careers. at the present time, all companies needs to be able to designing, prototyping, and experimenting with new enterprise versions. The enterprise version Innovation Factory offers leaders with the survival talents to create a pipeline of recent enterprise types within the face of disruptive markets and competition.
Avoid being netflixed. your company has to be a company version innovator to stick aggressive in modern day turbulent global.
- Author Saul Kaplan is the founder and leader catalyst of the enterprise Innovation manufacturing unit (BIF), a true global laboratory for exploring and trying out new company versions and social platforms. BIF has attracted an international neighborhood of over 5 thousand innovators and organizes the across the world popular BIF Collaborative Innovation Summit
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Additional resources for The Business Model Innovation Factory: How to Stay Relevant When The World is Changing
Marketing guru and Harvard Business School (HBS) professor Theodore Levitt first introduced us to the jobs-to-be-done approach to define a company's value proposition. ” Levitt taught us value is in the eye of the customer and companies should define how they create value in the context of customer needs and problem solving. Innovation expert and HBS professor Clayton Christensen has been a consistent advocate for using a jobs-to-be-done approach to initiate any innovation process. Christensen and the consulting team at the firm he founded, Innosight, kick off innovation engagements by having clients answer the basic question, what fundamental problem is your customer trying to solve?
The restaurant chain did extensive market research and segmented the milkshake market every imaginable way. They tried segmenting the market by product characteristic and by customer demographic with no success. They then began to look at the milkshake market not through the lens of the company but through the lens of the customer. The key question was, what job were customers hiring a milkshake to do? The answer surprised the company. It turned out 40 percent of the milkshakes were bought to-go by commuters first thing in the morning.
How does your organization capture value? Let's examine each of the three business model story elements. How Does Your Company Create Value? Business models are designed to create value for a customer or end-user. The logical place to start in telling any business model story is to clearly articulate how the model creates value and for whom. What problem does the business model solve? What unmet market need does it fill? What compelling customer experience does it create? What promise of value do you make to your customers?