Improving Business Models
Business models form the core of a business. Business models should be revisited regularly to reflect the prevailing environment. Businesses that fail to adapt may rapidly lose market share, for example the 1970’s case of Xerox and more recently with Nokia.
However, improving or changing a business model usually involves large amounts of resources, particularly when legacy systems are embedded into existing processes.
Lengthy presentation of business cases prior to procurement and processes can also impede the swift integration of innovative products and processes in competitive industries. This might explain why innovative products have low penetration in the industry. How should organisations circumvent this issue?
Participants undertaking this project may choose to examine strategies to increase penetration of innovative products and processes into business models, or explore the ways organisations can choose to reduce lag time when pushing out innovative products and processes.