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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). Radical innovations are similar to evolutionary innovations - but the leap of innovation is more comprehensive. And what does the customer value? Johnson, M.W.,

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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

The other side of the opportunity space is shaped by the internal potential of a company, i.e. the innovation culture, the departments’ and employees’ knowledge and information about previous failures or learnings.