Business Model innovation

Over the past thirty years, work on the business model concept has focused on themes such as value creation (the creation of new activities capable of generating future revenues and creating new jobs), competitive advantages (the offerings made by an organization that differentiate it from its competitors and give it an edge) and corporate performance. This article looks at the business model from another angle, that of innovation. Indeed, business model innovation is a particular form of innovation that goes beyond the development of new products, services or production processes. It involves building or reconfiguring an organization's value creation and capture mechanisms in such a way as to generate a competitive advantage.

Business model innovation has become an almost unavoidable step for organizations. Confronted with the digital transformation of their activities, they are evolving in a less and less predictable environment, conducive to the emergence of unexpected competitors who can become new leaders in a matter of months, thanks to business models that break with the "usual standards".

But while business model innovation has become a major preoccupation for organizations, implementing it is far from easy. And while there are no universally shared methods that can be applied to all situations and guarantee success, a number of tools and approaches have been developed on the basis of early feedback from organizations that have undertaken business model innovation. These tools and approaches will be presented in this article, following a review of what a business model is and how to innovate it.