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Business Model Innovation Basics Series - Part 1: What is a Business Model?

The BMI Lab Blog

Magretta, 2002). WHO – Every business model serves a certain customer group (Chesbrough and Rosenbloom 2002; Hamel 2000). Magretta 2002). Moreover, emerging technologies or trends may change the market environment - a company may be forced to act reactively or may want to act proactively by adapting the existing business model.

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Customer Orientation Effects on Innovation

Integrative Innovation

For example, cordless telephones were a radical innovation relative to wired phones because they were based on a substantially new technology; however, their customer base was essentially the same. Disruptive innovation does not necessarily involve cutting-edge new technology, as radical innovation does.

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Spotting Innovation Opportunities

ITONICS

When searching for new opportunities, it basically means being able to simultaneously create ideas as part of the innovation management on the one hand and to foresee markets and potentials, called corporate foresight, on the other hand.