Article
Reinvent Your Business Model: How to Seize the White Space for Transformative Growth
Choice Reviews for Academic Libraries
(2018)
Abstract
Johnson, strategy and innovation management consultant, shows how business model innovation can be achieved to provide transformational growth. Business models consider the value of the product or service for customers at a certain price, the profit formula (slim or high margins needed), and the resources and processes required to profitably serve customers. Johnson uses examples from Whole Foods, Amazon, General Electric, Netflix, Microsoft, and Dow Corning to not only describe company business models but also show how changes in market and technology conditions can lead to new ways to solve problems for customers. Almost half the book covers designing and implementing new models while overcoming challenges from naysayers. Some design processes include brainstorming new models, identifying assumptions critical to model success, and challenging those assumptions by testing them. Clayton Christensen and Michael Raynor’s The Innovator’s Solution: Creating and Sustaining Successful Growth (CH, May'14, 51-5108) provides similar content. The book contains easy-to-read charts summarizing the elements of business models, describing changes in how established and new businesses compete, and comparing new business models.
Disciplines
Publication Date
November, 2018
Citation Information
G. E. Kaupins. "Reinvent Your Business Model: How to Seize the White Space for Transformative Growth" Choice Reviews for Academic Libraries Vol. 56 Iss. 3 (2018) Available at: http://works.bepress.com/gundars_kaupins/112/