From The Wall Street Journal
To survive in today’s fast changing marketplace, every business–large or small, startup or long established–must be capable of a continual process of transformation and renewal. Surveys show that most executives agree, and in fact, many believe that business model innovation is even more important to their company’s success than product or service innovation. But other studies have determined that no more than 10% of innovation investments at established companies are focused on creating transformative business models.
This is not surprising. Most successful new business models come from startups. Despite the talent and resources at their disposal, business model success stories from well-established companies are relatively rare.
“Building a great business and operating it well no longer guarantees you’ll be around in a hundred years, or even twenty,” notes business model expert Mark Johnson in his new book, “Reinvent Your Business Model.”