Business Model Innovation
Business Model Innovation
When it comes to sustaining a business that is thriving, one key tactic which an overwhelming number of enterprises ignore is to identify the moment when an organization needs an essential change. CrowdBridge employs thorough strategies to devise and launch such innovations that are capable of changing the whole corporate game and take your venture to the next level of success.
Business model innovation has remolded entire sectors and redistributed value that goes beyond millions and billions of dollars. However, there are still very rare examples that depict the adoption of these innovation models by globally renowned companies, such as Apple. Primary innovations that came up over the period of last ten years show that only a few of them have been related to the business models.
Recently a study conducted by AMA found out that only ten percent of investments pertinent to innovation at global corporations are devoted to the development and implementation of new and modern business models. Furthermore, in 1975 Kodak originated digital photography and revolutionized the whole industry but could not make the most out of it. Xerox invested laser printer and mouse but failed when it came to commercializing their groundbreaking inventions.
Exactly what makes these wonderful opportunities so hard to clench? Answer to this critical question is that in most of the cases, these prospects require corporations to leave their core business strategies and go into an unexplored territory that is known as white space.
The reason why it so difficult to navigate through white space isn’t that it has never been explored before, but because a lot of business enterprises strive to kick off this expedition by following the wrong map, which is actually their current business model. This is where the role of CrowdBridge comes into play. We can assist your business in successfully stepping into and navigating the white space by devising fantastic open innovation business model.
What is Business Model Innovation?
Innovations in services and products are beyond any doubt extremely significant. However, an innovated business model can help your company achieve a competitive edge that can last for decades, especially when the times and corporate environment are disruptive. In the last fifty years, on average, the lifespan of business models has descended from around fifteen years to under five. Consequently, innovation in business models has become so critical if your company is seeking to guard against industry disruption or to grow exponentially.
Business model innovation designed and executed by our experts at CrowdBridge is basically the subtle art to enhance value creation and advantage. Our professionals do it by simultaneously making changes that are mutually supporting to your company’s value proposition offered to your clientele as well as to its core operating model.
Changes made at the level of value proposition can address facets like service or product offering, revenue model, and target segment. At the level of operating model, the main focus is upon how your organization is going to drive elements like profitability, value creation and competitive advantage.
Decisions regarding how to create and impart value creation might include questions, such as what organizational capabilities and structures are indispensable to ensure success and which cost models are required to attain attractive returns.
Our Business Model Innovation Solution Will Help You:
Revaluate each and every element that is part of your existing value proposition and business model.
Obtain open innovation business model skills with the hands-on approach developed by our qualified experts at CrowdBridge.
Figure out the most pressing external and internal challenges being faced by your organization
Pile up evidence in order to grab the attention of probable strategic partners.
Explore diverse alternative models of business to capture the latest market opportunities, such as service, product or new technology, or resolve critical issues like disruptive technology, unanticipated competition, and constant loss of your market share.
Analyze the potential efficiency of substitute business models by getting in touch with genuine customers, inexpensively, and swiftly.
Devise an effective and validated model for your business that will facilitate your organization to produce maximum benefits.
In addition to it, we at CrowdBridge are well aware of the power and capability of business model innovation to totally transform your business, generate new markets as well as target clients, and pave your company’s way to considerable growth. By employing our framework, CrowdBridge can assist your organization’s innovation procedure by enabling it to:
Timely Identify Growth Opportunities (White Space) : It involves tapping into a completely new market and customer opportunities by utilizing an innovative business model.
Formulate New Metrics, Rules, and Systems: They can allow your company to get organized for successfully executing new business models.
Enter Emerging Sectors and Markets Successfully: Rethinking and developing the business models which can identify unique, hidden unfulfilled needs of clients, efficiently and profitably.
Come up With Valuable Innovative Ideas: Our business specialists at CrowdBridge can generate new, helpful ideas to engage with your target customers and devise a transformed or brand new open innovation business model.