MANUAL CREATIVITY AND BUSINESS INNOVATION

MANUAL CREATIVIDAD, INNOVACIÓN Y EMPRENDIMIENTO

Technology with its different vectors (Internet, Cloud Storage, Internet of Things, Artificial Intelligence, Big Data and Analytics, 3D Printing, Robots and Chatbots, Blockchaim, etc), is radically transforming business models, annihilating old ones and giving rise to "new" business models. Technology and the digital transformation it brings about mean that we have to review certain concepts of traditional strategy, such as "barriers to entry". In some businesses we used to think that for example the capital and investment required were sufficient barriers to entry into the business. This was for example the case in the hotel industry, which required heavy capital investments to enter the business. Suddenly, a San Francisco startup called Airbnb, which did not come from the "head-on competition" of the incumbent operators, develops a business model that "matches" people who want to rent accommodation they own with people who would be willing to rent it for their stay. . It is a completely different business model to the traditional incumbents (e.g. hotels and large established hotel chains), whose innovative development has led it to be the "world's largest hotel chain by rooms" without owning a single room. Something similar could be said of Uber's disruptive business model in relation to the mobility industry. The old paradigms do not serve to protect against the profound transformation imposed by the technological and digital revolution. It is not enough the size of the company, the sector in which it operates, the strong regulation to which it is subject, the digital revolution transforms all business models. Faced with this, people and organisations must launch active and intense programmes of creativity and innovation in search of digital optimisation of their current business models and, above all, the search for new ones that will increase value and wealth for all their stakeholders: employees, customers, shareholders, suppliers and society in general.

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European Open Business School