How To Reinvent Your Business Model
The Forbes website posted an article which stresses the importance of reinventing your business model. The article quotes Alex Osterwalder: “Every organization has a business model, but it’s relatively new that people need to make it explicit. It used to be that in one industry, you’d have a dominant business model over decades that wouldn’t change much. But in the last 1-2 decades, we see different business models emerging in the same space, and also, a lot of business models expiring.” Nowadays, if you don’t think explicitly about how your company will make money and offer value to consumers, you’re likely to be overtaken quickly.
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