Business Model Innovation is all about finding new and relevant ways to add value to the business in the face of fast-changing circumstances. It must survive the situations for which the environmental, economic, social, political, technological, national, global and even local has to offer. Many people have been into devising any sort of innovative ways of doing their business, years and years. There explosion in the power, scope as well as breadth of communications, as well as with other technologies over the past years. However, with the emergence of the world wide web, it has opened new business model possibilities, which was never imagined to happen. This is definitely not all about the nature of the core business.

Source: sustainability.com/blog – All about business innovation

Moreover, business model innovation is a relevant, yet powerful concept for business at every level, these days. Companies, whether big or small have seen the damage being done to the Profit and Loss by the disruptive technologies, global competition, accelerated convergence, increased commercialization as well as growing customer power.

The only thing is that, a number of business strategies considered business model innovation from a vision-centric standpoint that doesn’t really bring down the details of execution. It is true, that the business model is only a model or a representation of a complex reality, yet every model should express every attribute of the system they purport to represent.

With the business environment, we have these days, it has become clear to the management executives that organizational capability for executing a strategic design should be reflected in the model, during the strategy development.

We will discuss different examples of business models in coming posts in similar category. BRET Consulting has strategic and business advisers on board who had a chance to explore, nurture and experience some of business model innovation of large scale corporations to startups. We intend to add value to our clients using the same strong experience with an approach tailored to your business objectives.