Why business model innovation is so compelling

Gone are the days when size and scale were the predominant factors for corporate success. Today's market demands speed, agility, and innovation - forcing companies to constantly experiment with their business models. While business model innovation is crucial, established companies cannot suddenly change their models and lose good, faithful customers. Companies must strike a balance between the efficiencies gained from existing models and the ability to constantly evolve their models to new competitive realities. Business model innovation is difficult, but companies must examine their models, understand potential weaknesses, and experiment with new technologies and platforms.