Business Model Innovation: Playing Your Cards Right
Business Model Innovation is currently the fastest growing innovation space. In this Profit through Process Interactive virtual case study Genna Weiss speaks with Bart Huthwaite—world-renowned expert in innovation leadership, thought leader in Business Model Innovation and Online Innovation Learning, and Founder of the Huthwaite Innovation Institute—who discusses how Business Model Innovation will allow your organization to more effectively organize its resources to deliver customer value and grow across the entire value chain.
Huthwaite introduces the four domains of Business Model Innovation—customer, design, supply chain, and operations—that must be fully integrated with one another in order. He also highlight the rules of Business Model Innovation by providing key examples from his InnovationCUBE deck of cards. Some of these Business Model Innovation rules include:
- • Seek "green bananas" or the "unspoken voice of the customer"—avoid what everyone has already
- • Don’t design a mousetrap—tap into unmet wants
- • Involve all stakeholders—make sure they are part of the solution and not the problem
- • Beware of your customer’s voice—seek out "blue oceans" rather than "red oceans"
- • Go problem seeking before problem solving—understand the problem from the start to avoid wasted efforts solving the wrong problem