Looking for New Growth through Business Model Innovation. When an organization is looking for new growth, there are generally three streams considered:
- A technological approach, wherein investments are made in new technology
- An organizational approach, where existing infrastructure is used to change the way the organization operates, looking for new efficiencies
- A strategic approach, where the way the company approaches the market changes
In general, a change in strategic approach can result in the best turnaround for the least financial investment (this assumes that existing technology and organizational structure are already operating effectively.) If the organization is underperforming to market, often a strategic overhaul will improve results.
The key is to identify how an offering will provide increased value to customers. Finding such value can come through asking questions such as “how is this product being used?” “how often is the product being used?” “what happens immediately before and after the customer uses the product?”
Answers to these questions may help shape which approach will enable your company to innovate for greater success.
Contact us to discuss a change management plan to transform your organization or for a complimentary presentation on a business problem your team would like to solve.
“Needless to say, there are many firms that provide research and strategy consulting services, but few can deliver the value demonstrated in performing the scope of analysis, strategies, product evaluations and practical recommendations. Your commitment and ease of doing business with your firm ensured that we had a sound basis to address our most challenging business decisions.” – Mr. Peter Flattery, CEO, Healthcare Insurance Reciprocal of Canada