Summary of Business Model Innovation

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Rating

7 Overall

8 Applicability

5 Innovation

7 Style


Recommendation

Business transformation consultant Stefan Gross-Selbeck examines whether large corporations have the capacity to execute proven business models while also creating new ones, thereby protecting themselves from industry disruptors. The trick, he explains, is to beat start-ups to the punch and dull their competitive edge by adopting a similar mind-set. Leaders at large companies and ambitious entrepreneurs will value this insight into the start-up psyche. 

In this summary, you will learn

  • How Uber, a start-up with few resources, managed to disrupt an established multibillion-dollar industry;
  • What differentiates start-ups from legacy companies; and
  • Which three start-up mind-sets large organizations must adopt to survive and thrive in the digital age.
 

About the Speaker

Stefan Gross-Selbeck is a partner and global managing director of BCG Digital Ventures.

 

Summary

How did Uber, a start-up with little money or resources, beat huge car manufacturers to the idea of ride-sharing and disrupt an entrenched multibillion-dollar industry? One reason is that developing and launching digital products and services is easy and inexpensive in the internet era. Platforms such as Facebook and Google and frameworks such as open-source software facilitate digital innovation, which enables small companies to compete. Moreover, unlike big companies, start-ups initially function without a business model because they’re in the process of forging a new business model. Start-ups are positioned to examine, reshape and redefine one part of the value...


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