the future of business model innovation€¦ · state of business model innovation in norway 0 % 20...
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The Future of Business Model Innovation
Prof. Tina Saebi
Center for Service Innovation
Department and Strategy and Management
NHH
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Agenda
1) Impact of the Fourth Industrial Revolution
2) Need for new business models
3) State of business model innovation in Norway
4) Become a BMI leader
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The Impact of the 4th Industrial Revolution
Customer expectations
Digital enhancements
Collaborative innovations
The 4th Industrial Revolution Key changes
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Need for New Business Models
Sharing economy
Servitization
Open innovation
Sustainability
Emerging trendsRethinking the established
business model
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State of Business Model Innovation in Norway
0 %
20 %
40 %
60 %
80 %
100 %
TargetMarket
ValueProposition
ValueCapture
ValueDelivery
57,4 49,6
84,5
42,3
34,9
25,7
12,0
40,8
7,724,6
3,516,9
BMI By Component
No Change Adaption Innovation
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What drives Business Model Innovation in Norway?
Business Environment
• Competition
• Turbulence
• Stability
Strategic Orientation
• R&D-oriented
• Customer-oriented
• Efficiency-oriented
Organizational Design
• Formalization
• Centralization
• Knowledge flows
Business model innovation?
“Turbulence as the main driver of business model change”
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Why wait for turbulence to hit your industry?
“It’s harder to stay on top than to get there”
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Become a BMI leader
Ambidexterity: exploit and exploreBias of the current business model
Main Challenges of BMI
Leadership gap Assign dedicated team to experiment with
BMI
Organizational resistance Institutionalize innovation culture
Developing key capabilities
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Further reading