{"id":2613,"date":"2017-10-30T14:58:12","date_gmt":"2017-10-30T13:58:12","guid":{"rendered":"https:\/\/blog.microtronics.at\/?p=2613"},"modified":"2021-11-22T11:29:49","modified_gmt":"2021-11-22T10:29:49","slug":"importance-business-model-innovation","status":"publish","type":"post","link":"https:\/\/microtronics.com\/en\/blog-en\/importance-business-model-innovation\/","title":{"rendered":"The importance of business model innovation"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Innovation has always been a guarantee for growth and competitiveness for companies. In the past, success has been achieved by the creations of outstanding technical products and solutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The focus on process or products innovation no longer ensures the continuity of a company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Revolutionize industry rules<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Continual developments lead to a situation where existing products and processes are becoming obsolete and the industry rules are being revolutionized in the long term:<sup id=\"ref1\"><a href=\"#zitat1\">[1]<\/a><\/sup><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Unlocking competition from the Far East<\/li><li>Globalization<\/li><li>Increasing competitive pressure<\/li><li>Devaluation of products to mass-produced goods<\/li><li>Change in competition and market conditions<\/li><li>Convergence of industrial borders<\/li><li>Regulatory changes<\/li><li>Implementation of new technologies<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Due to their novel capabilities smart connected products have the potential to revolutionize competition within an industry and redefine the industry itself.<sup id=\"ref2\"><a href=\"#zitat2\">[2]<\/a><\/sup><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><a href=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell.jpg\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell-1024x683.jpg\" alt=\"Business Model Innovation\" class=\"wp-image-2606\" srcset=\"https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell-1024x683.jpg 1024w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell-150x100.jpg 150w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell-300x200.jpg 300w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell-768x512.jpg 768w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell-600x400.jpg 600w, https:\/\/microtronics.com\/wp-content\/uploads\/2017\/10\/innovation-business-model-wicell.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Business model as a competitive advantage<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Designing innovative business models is one of the central prerequisites for companies in today\u2019s age to ensure their long-term competitiveness. Numerous companies, such as Kodak, Quelle, AEG or Grundig, which had achieved a high level of recognition due to their products and processes, disappeared after decades of success. They had failed to adapt their business models to the changing environment.<sup id=\"ref3\"><a href=\"#zitat3\">[3]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Business model innovators achieve an average six-percent higher increase over a five-year period as pure product or process innovators according to a study by \u201cThe Boston Consulting Group\u201d.<sup id=\"ref4\"><a href=\"#zitat4\">[4]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">14 of the 25 most innovative companies in the world are primarily business model innovators.&nbsp; Although the development of good products and process will continue to be important, they will no longer decide on the fate of the companies. The ability to stand out from masses in the industry through innovative business models will make the difference.<sup id=\"ref5\"><a href=\"#zitat5\">[5]<\/a><\/sup><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the future, the products and processes will not determine the competition, but the business models. The current phase of the temporary competitive advantages requires the companies to ask for a certain paranoid mind about the basis of the current success. Even if the current yields do not suggest this, it is recommended to mentally constantly expect the fall.<sup id=\"ref5\"><a href=\"#zitat5\">[5]<\/a><\/sup><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-references-list\">References list<\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li id=\"zitat1\"><a href=\"#ref1\">\u2191<\/a> Gassmann, O., Frankenberger, K., &amp; Csik, M. (2013). Gesch\u00e4ftsmodelle entwickeln: 55 innovative Konzepte mit dem St. Galler Business Model Navigator. M\u00fcnchen: Hanser, S. 4<\/li><li id=\"zitat2\"><a href=\"#ref2\">\u2191<\/a> Porter, M. E., &amp; Heppelmann, J. E. (2014, November). How Smart, Connected Products Are Transforming Competition. Harvard Business Review, S. 75<\/li><li id=\"zitat3\"><a href=\"#ref3\">\u2191<\/a> Gassmann, O., Frankenberger, K., &amp; Csik, M. (2013). Gesch\u00e4ftsmodelle entwickeln: 55 innovative Konzepte mit dem St. Galler Business Model Navigator. M\u00fcnchen: Hanser, S. 3<\/li><li id=\"zitat4\"><a href=\"#ref4\">\u2191<\/a>&nbsp;Lindgardt, Z., Reeves, M., Stalk, G., &amp; Deimler, M. S. (2009). Business Model Innovation When the Game Gets Tough, Change the Game. Abgerufen von<\/li><li id=\"zitat5\"><a href=\"#ref5\">\u2191<\/a> Gassmann, O., Frankenberger, K., &amp; Csik, M. (2013). Gesch\u00e4ftsmodelle entwickeln: 55 innovative Konzepte mit dem St. Galler Business Model Navigator. M\u00fcnchen: Hanser, S. 4-5<\/li><\/ol>\n\n\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<h2 class=\"wp-block-heading\">Series: Moving into a new business era with smart, connected products<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Part 1: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/smart-connected-products-new-business-era\/\">Introduction<\/a><br\/>Part 2: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/importance-business-model-innovation\/\">The importance of business model innovation<\/a><br\/>Part 3: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/laying-foundation-strategic-decisions\/\">Laying the foundation through strategic decisions<\/a><br\/>Part 4: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/break-the-valid-industry-logic-with-smart-connected-products\/\">Breaking the valid industry logic<\/a><br\/>Part 5: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/5-value-creation-layers-for-an-iot-application\/\">5 value stages of an IoT application<\/a><br\/>Part 6: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/transformation-of-the-value-chain\/\">Transforming the value chain<\/a><br\/>Part 7: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/the-value-generation-of-things-in-the-internet-of-things\/\">The value generation of things in the Internet of Things<\/a><br\/>Part 8: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/fundamental-design-of-smart-connected-products\/\">Fundamental design of smart, connected products<\/a><br\/>Part 9: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/requirements-for-the-technological-infrastructure\/\">Requirements for the technological infrastructure in the Internet of Things<\/a><br\/>Part10: <a href=\"https:\/\/microtronics.com\/en\/blog-en\/creating-added-value-by-advancing-to-smart-products\/\">Creating added value by advancing to smart products<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Innovation has always been a guarantee for growth and competitiveness for companies. In the past, success has been achieved by the creations of outstanding technical products and solutions. The focus on process or products innovation no longer ensures the continuity of a company. Revolutionize industry rules Continual developments lead to a situation where existing products [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2606,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[764,767],"tags":[],"class_list":["post-2613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en","category-strategy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.3 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The importance of business model innovation - Microtronics<\/title>\n<meta name=\"description\" content=\"Process and product innovations are no longer a guarantee for long-term success. 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