what are important factors to consider with initiation?
- understanding the actors - customers, partners, competitors
- analyzing influencing factors - technologies, megatrends, and regulatory changes
applying the 55 identified patterns to your own business model and thereby generating new ideas for your business can be done in two ways:
- similarity principle; starts inside and moves outside, begin with similar and move to dissimilar patterns
- Confrontation principle: specifically wants to face off with extremes, so you compare your current business model with scenarios in completely unrelated industries
the cycle of applying the NABC method consists of four steps:
- development - the most promising idea is developed into a concept
- sharing - each group presents their ideas to other participants in an elevator pitch style
- water-holing - after each presentation, the group receives give-and-take feedback
- redesign - any weaknesses and challenges that have been uncovered are addressed by way of new ideas
not invented here syndrome =
the tendency of people and organizations to avoid things they didn’t create themselves
define:
internal consistency =
external consistency =
internal consistency = may be defined as presenting harmony between the who-what-how-why dimensions
external consistency = refers to the fit between your new business model and the company’s environment
the implementation phase consists of three-step cycle:
- design
- prototype
- test
5 most important ways of managing change from the top:
- show commitment
- involve employees in change management
- established champions and change management leaders
- avoid cognitive biases
- the fat smoker syndrome
define the fat smoker syndrome
being aware of the health risks and have a strategy to solve the problem, but they lack the determination and discipline to keep their promises
what are the various ways of how business model innovation can be put into practice?
- part of existing business
- integrated in new business unit
- as their own independent company
define smart goals
specific, measurable, acceptable, realistic, time-bound
what is the greatest hurdle in business model innovation?
to overcome internal resistance
in what three ways can missing capabilities be remedied?
- develop the capabilities internally
- partner with others
- buy capabilities or businesses
companies that have a strong culture of innovation have specific traits:
employees show initiative, permission to work on unofficial submarine projects, serendipity, employee diversity, communication
link NABC to the corresponding pespective
need - customers perspective
approach - inside perspective
benefits - value perspective
competition - outside perspective
