Strategic innovation, or how to innovate a company's business model

Strategic innovation encompasses all facets of a company's business model.

To achieve this, we need to rethink the offer delivered by the company through a series of processes that enable a good cost position to hope for a price that satisfies customers in terms of the value they perceive.

How do you develop such a business model? First, management needs to characterize the company's current business model and understand the major forces shaping its environment. Next, it will need to seek to transform this model by reviewing the main possible levers:

• Rethink the offering by improving the value proposition offered to customers and users.

• Re-engineer processes to serve the offer, using digital technology in particular.

• Reinvent the revenue model.