10 Reasons Companies Fail at Business Model Innovation
The Innovation Excellence website noted that companies fail at business model innovation because they’re so busy pedalling the bicycle of current business models they leave no time or resource to design new ones. Most companies focus innovation efforts on new products and on driving efficiencies into current models. These are important activities, but not sufficient in the 21st century when business models don’t last as long and face disruption. This means business model innovation is the new strategic imperative. This post outlines the top 10 reasons why businesses fail to innovate.
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