article thumbnail

Business Model Innovation Basics Series - Part 2: Why Business Model Innovation Matters

The BMI Lab Blog

Learnings from sports competitions Competition in business is similar to sports competitions – there are winners and losers. It also explains why prominent firms, which have been known for their innovative products for years, suddenly lose their competitive advantage?

article thumbnail

How to Think Outside of the Box in Business Marketing

The Human Factor

And standing out from the crowd can sometimes seem difficult, with the amount of competition there is out there. How enticing marketing campaigns can boost a business’s sales and its notoriety. Marketing is the key to business success. Conduct market research and ask customers what they are looking for or missing out on.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The New Game Or Is It? Asset Orchestration

Paul Hobcraft

They might be operating at the two ends of the current internet trading spectrum and are coming from different market maturity positions but it is the asset management that is becoming critical for delivering the profit or dragging performance. I quote “I’d say Amazon are “ asset heavy ” whereas Alibaba remains “asset light”.

Resources 157
article thumbnail

How to Keep Innovating in an Economic Downturn

Innov8rs

Competitive Advantage In all circumstances, leaders will and should have strategic priorities on top of their minds. Usually, you need innovation for that, which means that you either adapt to current challenges or lag behind the competition. Why shouldn’t you just give up on innovation when times are tough?

How To 105
article thumbnail

Treating Discovery Like Execution Will Kill Innovation

Tim Kastelle

“Why aren’t they market entry problems?” The program was originally designed as part of Wharton’s marketing program – so the projects were conceived as market entry problems, exactly as Steve said. ” he replied. I was stumped by his question for a couple of days. What causes the difference?

LEAN 100
article thumbnail

Understand Trends, Identify Strategic Fields of Innovation and Create something entirely New

ITONICS

Evolving markets, new demands, standards, and values, as well as ever shorter product life cycles, require a high level of adaptability on the part of the companies. However, given the complexity and the fast pace of their market environment, companies are in many cases no longer able to understand it in sufficient detail. Literature.

Trends 48
article thumbnail

The Role of Innovation in New Product Development: Three Approaches for Success

Qmarkets

Crowdsourcing allows businesses to target internal and external participants to share their ideas and suggestions via questionnaires, competitions, promotions, and other methods. Had these manufacturers taken on Dyson’s prototype they would have had a breakthrough product in their market. Dyson engineers are never satisfied.