The Transformative Business Model (Kavadias c.s.) Chloe Xu, Australia, Premium Member A business model represents a plan or recipe for the successful operation of a business, identifying source of revenue, the intended customer base, products, and details of financing. Those features interact in complex ways to determine a company’s overall success. The dominant business model in any given industry tends to evolve over time. Gradually a new one is succeeding in replacing the existing dominant one, typically by leveraging a new technology.
One might say that the business model serves as an interface between technological offerings and market demands. What features can make a business model transformative so that is can be sustained and prosper in our ever-changing world?
THE SIX KEYS TO A TRANSFORMATIVE BUSINESS MODEL
Providing a more personalized product or service offering that is better tailored to customers’ individual and immediate needs by utilizing technology at competitive prices.