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Osterwalder: Innovating business models

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You don't necessarily have to innovate your business model, but I think there's a big risk today that you get disrupted by others, by newcomers, by new companies at the periphery, so you're better off if you start looking at your business model and innovate your business model early, before it’s too late, before you don't have another choice. So a lot of industries, companies in the music industry, in the news industry, they're starting to look at their business model now that it's almost too late, because technology has disrupted them or newcomers are on the scene. But you want to do that early, you want to be proactive, because you don't want to be in a situation where you risk disappearing and going bankrupt, you want to be proactive. And I think the difference to ten, twenty years ago is that there are more and more new business models of new players that are disrupting entire industries. So the urgency to look at your business model is getting bigger. But I wouldn't say you have to, but it would be wise in many many cases to start at least understanding how business models are playing out and new ones are coming up

Added on 29 Apr 2017
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