The Strategic Innovation Blog » innovation business model http://www.strategicinnovation.org Strategic Innovation Advantage Thu, 24 Nov 2011 14:24:06 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Modern strategic innovation includes innovation in business model http://www.strategicinnovation.org/strategic-innovation/modern-strategic-innovation-includes-innovation-in-business-model http://www.strategicinnovation.org/strategic-innovation/modern-strategic-innovation-includes-innovation-in-business-model#comments Wed, 16 Sep 2009 17:11:59 +0000 Helge Sovde http://www.strategicinnovation.org/innovation-management/strategic-innovation-includes-innovation-in-business-model In an ever-changing economy, just relying on product innovation is simply  not enough.  Innovation is a wide field, including process innovation, social innovation, environmental innovation – but also very important organizational and business innovation. Companies focusing on growth by product innovation can easily become locked into their current business model. Investment based on current business model reinvents the current model, which can later be outcompeted due to disruptive technology and cycles of technological development. Institutions and value chains can serve as major reasons for inertia in your organization.

According to business strategist, Rowan Gibson, “perpetual growth requires perpetual renewal. It’s the only way to maintain continuity in a discontinuous world. And the fuel for renewal is innovation. Not merely innovation at the margins but deep, strategic innovation at the level of the core business model.” I certainly agree with him on this one, check out his article on http://www.business-strategy-innovation.com/2009/09/innovation-goal-growth-or-strategic.html

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