Dr. Evans Baiya, InnovationManagement.com, March 2021
The pandemic has given us all an opportunity to build a new business future. Market disruption equals opportunity for those willing to look and work for it. This is the time to adjust and innovate your business model to market conditions.
During COVID and the VUCA season it has created, we have seen ample reason for companies to adjust their business models. There are three main catalysts for business model innovation: market contraction or expansion, introducing a new product or service, and/or trying to attract new customers. These three factors have been increasingly present over the past year. Read more.