Sustainable business model innovation is the most valuable process carried out by any company. But building such a process is difficult for most leaders. Why? They have never seen anyone do it, and they have no personal experience.
Here are four elements in continuing to innovate business models:
1. Understand and follow the current business model well. – Use the optimal way for your goods and services to be supplied now, by telling all stakeholders what needs to be done to provide the greatest benefit.
2. Understand and implement further improvements to the business model. – Determine further innovations to provide more benefits to stakeholders through goods and services and how the transition will occur.
3. Understand and use the vision of business model innovation. – Ideal benefits to give to stakeholders in your industry, which are used to test the accuracy of the development of potential generations of business innovation models.
4. Design and continuous testing of potential business model innovations. – Probes and tests are determined by the vision to get a reaction to provide new benefits and various ways to supply it. To find out more about business model innovation, you can click on this site https://innovation360.com/services/innovation-analytics/.
For each of the first three elements of sustainable business model innovation, you need to identify seven key elements – who, what, when, where, why, how and how much – viewed from the perspective of all direct and indirect stakeholders.