Revolutionizing the business model

Abstract

In the future, the race for comparative competitive advantages will take place between business models, and not just between products, services, and technologies. Considering that a firm's business model is a complex system characterized by interdependencies and secondary effects, it can be assumed there are many barriers that prevent companies from developing a new business model and moving into a 'blue ocean'. The Business Model Innovation Map provides a process for business model innovation structured in three steps. After one's starting point has been defined by describing the current business model as a first step, the next step is the process of ideation with the help of various tools, such as the business pattern cards. These contain 55 main patterns of business models to encourage outside-the-box thinking and help to start analyzing how existing patterns of business models could be adapted to one's own particular situation. A set of checklists and tools ease the third step of quickly developing the business model around a promising idea and integrating it successfully.