INNOVATION IN BUSINESS ENTREPRENEURSHIP MANUAL

MANUAL INNOVACIÓN EN EL EMPRENDIMIENTO EMPRESARIAL

1. BUSINESS MODELS

We could say that innovation is creativity applied to a business model. We have already said that to innovate is to monetise, it is to add value to something that is accepted by our customers. The innovation process crystallises in a business model. Today we talk a lot about "business models", and especially about the search for "new business models" that also have "digital attributes". Successful innovation management requires: a balance between short-term profit and long-term sustainability. 90% of senior managers do not question the business model of their companies. Rethinking how to develop innovative business models or investigating other types of business models for your company is one of the main tasks that anyone with responsibility in Startups, SMEs or established companies should be doing. "Questioning" our business model involves thinking about how our company or entrepreneurial business project provides value to customers and how they pay for the value they receive. In addition, it is important to understand the type of market in which we operate and what other factors influence it. The evolution of society, uncertainty, the speed of change, the Internet, technological advances and the emergence of new needs and therefore new opportunities, has forced companies to generate new innovative business models as alternative ways of generating revenue. If we look back, there are some examples of innovative business projects in Spain, introduced by large global companies, which dared to innovate, to rise from the ashes. Examples of innovation such as IBM or Gillette illustrate this "resurgence" when their market positions were threatened. Others, however, failed to see what was coming to them from their privileged position, such as Kodak. Once one of the most innovative businesses in the world, it collapsed with the advent of digital photography.

A business model requires action and questioning on three levels of action: but is the search for an innovative business model important? ....

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European Open Business School