innovation strategies Archives - InnovationManagement

Fueling the recovery with new, high-octane business models

According to a recent survey of 65 senior executives of global companies, the large majority of firms are looking for innovation to drive growth. But they're not necessarily looking for the next great product or product feature. Instead, companies are putting greater focus on business models that create value for customers in new ways.

Why Business Model Innovation Matters

Managers frequently rely on innovation to drive profitable growth. In many industries new products and services are fundamental. However, although product and service innovations are and have been important to firms for decades, competitive pressures and the search for increased profit have pushed business model innovation higher on the priority list.