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Business Model Innovation

IT'S NOT JUST TECHNOLOGY THAT'S CHANGED – IT'S THE ENTIRE MODEL FOR YOUR BUSINESS.

Accelerating your brand with a successful business model innovation will improve your brand's combination of revenue, costs, and risks. Icreon helps you navigate challenges and build the foundation to capture a more durable competitive advantage.

Business Model Consulting Services

Gain A Lasting Competitive Advantage

In challenging times, innovation is more critical than ever. Our Acceleration Studio helps clients quickly identify areas of opportunity, validate the opportunity in the market, then charge forward with a clear sense of priority and success. We identify the elements that are critical to your business and outline the risks to further maximize your success.

 

From NYRR to Ultrafabrics, we have helped companies hoping to drive robust growth through business model innovation. We achieved this through our in-depth research analysis, expert backed insights, and distinct approach to business model innovation that has helped hundreds of brands to aggressively expand their business footprint across the globe.

Business Model Innovation Consulting

Our Marquee Clients

Featured Success Story: Unique Sports Management
Improving Business Process Efficiency at Unique Sports Management

Unique Sports Management sports talent agency specializes in bringing top-tier football players to the UK. The agency represents players seeking overseas playing opportunities. Most of their players are generally sourced by the agents, with no system to track them down, resulting in delayed processing times and roadblocks in the sports system.

Our Insights + Action team worked closely with Unique SM to develop a robust framework that reduced process inefficiency and created a consolidated database with all player information to enable a faster process.

Read the full case study here

Featured Success Story: Unique Sports Management

Learn How We Can Accelerate Your Business

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FAQs Around Business Model Innovation

  • What is business model innovation?

    Business model innovation is the process of creating new ways of doing business that can help you stand out from competitors, attract new customers and increase sales. This innovation involves changing your product or service offering, pricing structure, distribution channels, or other aspects of your business model.

    The business model innovation process begins with identifying opportunities for improvement based on rigorous analysis of your firm's performance relative to competitors and industry trends. This allows you to identify gaps in your customer experience or operating procedures that could be improved through better processes or technology investments.

    The goal is to create a more effective and efficient way to reach your target audience with a product or service they want at a price they're willing to pay. Business model innovation is about creating new business models that create value for your customers and for your organization. It's about going beyond incremental improvements in existing products or services to drive real value for both sides of the market.
  • Why is business model innovation important?

    Business Model Innovation is an important part of digital transformation because it helps companies create new products and services that will be needed by customers in the future. By creating new products based on existing technologies, companies can increase their chances of staying relevant as those technologies become more widely adopted by consumers and businesses alike.

    To survive and thrive in today’s fast-changing world, constantly innovating your business model. Here are just a few reasons why:

    To Remain Relevant in an Increasingly Digital World
    Customers today expect more than just products and services — they want integrated experiences that meet their needs across multiple channels. Businesses must evolve to keep up with these expectations or risk becoming obsolete.

    To Compete With New Entrants Into Your Market
    Startups have emerged with new technologies and services threatening established companies' survival. These disruptors often have fewer resources but can make more efficient use of technology and have the agility needed to adapt to changing customer demands quickly.

    To Boost Profitability
    Even if you offer great products at affordable prices, it won’t matter much in the long run if you can't make money doing so. Business model innovation can help you get better value from your supply chain partners and suppliers so that they're more likely to give you preferential treatment when times are tough (which makes them less likely to cut off supplies – or raise prices – during difficult economic times).
  • What are business model design and innovation?

    Business model design and innovation are the two key components of a successful enterprise. However, many companies struggle to create a sustainable business model, especially if they only focus on the first part of this concept: design.

    Business model design is about creating a blueprint for your company’s future success. It starts with understanding what makes your business different from competitors, then developing competitive advantages and finding opportunities to grow those strengths into areas that can become new revenue streams.

    Business model design is about more than just creating a new idea for your business; it’s about using data to decide how to grow your business. Business model design is not just about you but everyone involved in your company — employees and partners. It's about understanding who you serve and how you serve them. And it's about understanding their needs so well that they become your biggest advocates in spreading word-of-mouth marketing through social media channels or simply by telling their friends what they like most about working with you: The products or services they receive from you!

    Innovation is the process of turning these ideas into reality. It involves taking risks and embracing failure as an important part of the learning process. You also need to adapt quickly to changing conditions to keep up with market demands or respond to unexpected challenges from competitors or governments.

    The key to a successful business model design is understanding that the design process is iterative and involves multiple cycles of prototyping and testing. A good business model should be easy to understand and communicate to others. It should also be easy to execute because it should allow you to execute it quickly with limited resources.
  • How do you innovate a business model?

    There's no one-size-fits-all approach to innovation. But there are some common elements that can help you develop a strategy for business model reinvention.

    Business models are the underlying logic of how an organization creates value for its customers, employees, suppliers, and investors. They help determine why customers buy from you rather than your competitors, which resources you need to succeed, where growth opportunities lie and what kind of people you need on your team.

    Identify Your Core Competencies
    The first step in innovating a business model is identifying your core competencies. These are the skills and knowledge that you have, and the resources you have access to, that allow you to compete effectively in the marketplace.

    Once you know what your core competencies are, you can identify which ones are most important for your business. Some businesses might have one core competency, and others might have more than one.

    Research Your Competitors
    The next step is to research your competitors and find out what they’re doing well and where they’re falling short. This helps you determine if there is an opportunity for your business to fill a gap with a new service or product.

    After this, you need to develop a plan for how best to exploit this gap in the market. The plan should be flexible enough so that if things don’t go according to plan, it can be adjusted accordingly without too much disruption to your organization as a whole.
  • What are the characteristics of business model innovation?

    Business model innovation is a process of creating new value for customers in existing markets and industries while disrupting the status quo by applying new technologies, processes, and business models.

    Business models are the basic building blocks of strategy. They determine how you create value, capture that value, and invest it to grow your business. A successful business model can help a company dominate its sector, while an unsuccessful one may cause it to fail miserably.

    Here are some characteristics of business model innovation:

    Disruptive Innovation
    This type of innovation occurs when a new entrant to a market offers an entirely new product or service that is less expensive, simpler, or more convenient than current offerings. The goal is not just to create a new product or service but to change the whole industry.

    Productivity Innovation
    Productivity innovation improves the efficiency of existing resources, including labor, capital, and natural resources (think Toyota’s lean manufacturing).

    Market Creation Innovation
    Market creation innovation adds new consumers or uses for existing products by changing consumer tastes and preferences (think Starbucks).

    Customer Value Proposition
    This type of innovation focuses on using new technologies or processes to improve customer value. For example, Airbnb has created a platform where homeowners can rent out their space for short periods at competitive rates.
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