Finding Opportunities in Business Model Innovation
An article in the European Business Review reports that even as incumbents cling to business models that are under pressure, rapid growth is captured by organizations which develop new models . It is a truism in organizations that it is often easier to punish sins of commission than of omission. Proactive actions that lead to disappointment are punished, while simply doing nothing and keeping the wheels of business turning is in many organizations a safer route to success. One unfortunate consequence is that people in companies cling to existing business models when the conditions that made them successful have changed. Failing to shift resources into new models quickly has been many a firm’s undoing.
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