Startups Innovate to Challenge Existing Top Players
The International News website noted that business model innovation was now the priority of the established industries, as they were being regularly challenged by mobile apps. The companies now need to reinvent their business model ahead of the technology driven upstarts. Generally established companies are reluctant to risk tampering with their core business model until it’s visibly under threat. This risk might prove very costly if the upstart enters earlier, the damage caused would be irreparable.The innovation team should be given full autonomy within the budget parameters.
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