Hi community,
in my previous blog posts, I described how Business Model Canvas can be applied using ARIS Business Strategy. As competition encourages almost every organization to think of innovation and business model innovation in particular, I am just wondering what makes the implementation of Business Model Innovation successful and what one would need to support a successful implementation.
As the implementation of Business Model Innovation is a complex and challenging task which requires beside a good idea a lot of resources (time, money, manpower), it is worth to ask the question: What do we need to implement Business Model Innovation?
So, I do not only think of having good ideas for successful Business Model Innovation, I rather want to know what makes a good idea successful in terms of its implementation.
So please share your thoughts with me! Let me start with some of my own thoughts and ideas:
- Business Model Innovation needs a clear plan that defines which structures and processes of an organization have to be designed, adapted or phased out
- Business Model Innovation has to create value – meaning that the long-term benefits / values are higher than the costs for designing and implementing innovative business models
- Business Model Innovation needs an approach that identifies all stakeholders of the transformation behind Business Model Innovation. Stakeholders must be included into the transformation process
- Business Model Innovation needs intelligent controlling mechanisms that track the success behind the implementation of Business Model Innovation. Objectives dedicated to Business Model Innovation, a set of relevant KPI and special reporting structures are important elements in that context
- …
Feel free to complement the list or discuss my thoughts above! Looking forward to your contribution.
Kind regards
Dominik
I think the first thing that is needed is that the organization realizes that it has to change. When I look at some examples in other industries (the American auto industry -or rather the American manufacturers- or Nokia for example) it becomes pretty obvious in hindsight that they didn't want to change and have not understood that the customer demand went away from their products.
This is a tough "sale" internally and when you have the pressure to produce quarterly numbers it becomes even harder to take a step back and have a look at your strategic direction. It is funny to see how "the market" and its analysts, who don't contribute/produce anything for a company's customers or the value creation, pushes companies even further into this treadmill.
But this seem to be our times now ...
