The Growing Trend of Business Model Innovation
Creating value through Business Model Innovation
In today’s highly competitive and fast-moving technology advanced market space, much of the innovations and cost savings that could be achieved have already been achieved. As our economy continues to put companies under resource scarcity, managers are hesitant to make any big changes where the potential value is accompanied by a degree of risk. A recent piece of research by Raphael Amit and Christoph Zott (Sloan Review, March 2012) uncovered how companies are focusing more on complementing their product or process innovations through business model innovation.