AFM433 Lecture Notes - Lecture 8: Statism, Disruptive Innovation
27 Dec 2019
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Document Summary
New products: a radically new product usually needs a new business model. Difficulty in achieving business model innovation growth: is due to two major problems: a lack of definition of the dynamics of business model development, few understand their existing business model well enough. Transcending the problem: understand your existing model at a granular level, so that you in position to reinvent it, come up with a great way to help people get an important job done. Four elements: compare with your existing model. Both what and how its sold: profit formula: the blueprint that defines how the company cr eates value for itself while providing value to the customer. Focus: companies trying to create the new often neglect to focus on one job; they dilute their efforts by attempting to do lots of things and end up doing nothing really well. Four barriers of getting jobs done: insufficient wealth, access, skill, time.
