Business model innovation paths

Abstract

AbstractThis chapter explains the business model concept and explores the reasons why “innovation” and “innovation in services” are no longer exclusively a technological issue. Rather, we highlight that business models are critical components at the centre of business innovation processes. We also attempt to describe the characteristics of a business model and what a “good model” should achieve. Moreover, we discuss why firms in the service sector too often fail to innovate their business models as required by market situations. In the second part of this chapter, starting with the description of a problem or a new opportunity, we present a framework to help innovation teams develop a structured brainstorming path in order to create a new business model.KeywordsBusiness ProcessBusiness ModelOpen InnovationPayment MethodAcademic SpinoffThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.