Summary of The Business Model Innovation Factory
How to Stay Relevant When the World is Changing
Use business model innovation to avoid being like Blockbuster – “Netflixed” out of business.
Author Saul Kaplan’s fascinating take on business model innovation combines reflections on why such innovation is crucial with advice on how to go about it. He explores the process of business model innovation with illustrations and anecdotes, and sets the stage by presenting Blockbuster’s history as a case study. Kaplan examines the reasons why companies fail at business model innovation. He lays down clear principles managers can adopt profitably to become more innovative. Kaplan engages the reader by going beyond the conventional boundaries of innovation within corporations and examining how nonprofits and individuals can also adopt business model innovation. getAbstract recommends his practical insights to managers in for-profit and nonprofit organizations and to business students.
In this summary, you will learn
- How to apply a functioning definition of business models and business model innovation,
- Why your firm must practice business model innovation, and
- How to follow 15 critical principles to speed your quest for innovation.
Comment on this summary
3 years agoThis summary was valuable to me not for thinking about how to change and adapt (innovate) my business model, but thinking about how to get my organization thinking about innovation in general. If these tips lead to innovative products and services; they get vetted, practiced and proven as the summary suggests; then we can consider the impact on our business model.
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