The business model is the intersection of key strategic & tactical components - e.g., customer value, operating structure, tools of growth, & operating conditions. These and other elements provide the fuel for revenues and profits. However, like a product, business models have a finite half-life!
Business models are not easy to change - it takes significant foresight, will, and time to redirect the mix of revenue streams and operations. For example, some companies rely on a strong follower model, others depend on significant R&D expenditures, while others focus in building their channels as a differentiator.
Looking at competitors create a follower strategy - breakthrough comes from industries outside your own.
Vaxa's research helps companies to create options for business model change through intense dialogue with a broad cross-section of industry leaders - to learn what triggered their drivers of changes, how they figured out their business model options, ways they reduced risk, and draw the necessary insights which can lead to innovations for different business model elements.
When Vaxa works with Corporate or Business Unit teams, the client team identifies business model elements that need investigation. Vaxa then works with the team to:
- Identify industries and specific companies who have undergone signifcant change.
- Recruit and engage those target company leaders (CxO) to do a deep dive into business model drivers.
- Analyze the outcomes from these creative interactions to drive new business model insights.
- Develop a portfolio of viable options that can be phased in over time.
To find out more about how Vaxa has helped clients in this area, please contact us at frontend@vaxainc.com. |
