Conclusion

Business model innovation changes traditional standards and practices. It proposes a new value-creating offering to existing, expanded or new customers, with whom new relationships are established through appropriate channels. Innovation also translates into the development of resources and skills, enabling new activities to be explored. Finally, innovation can lead to a redefined cost structure and a new revenue model. Business model innovation is no easy matter, and organizations that embark on this path, which is the expression of a break with one or more components of their business, have no guarantee of success. This break with the past may result in a new value proposition, and therefore a reconfiguration of the offering system (customer segments, customer relations and distribution policy), mobilizing new resources and skills, and ultimately modifying the financial structure. Even...