Sustaining traction on your desired trajectory of profitable growth (and share-price if you are a public company) requires a never ending migration of business model, 1.0 … 2.0 … 3.0 … forever, with the agile-innovation required – see my Vistage Executive Street Blog: The Path to Agile Innovation.
Here’s a great article from this month’s Harvard Business Review: The Transformative Business Model in which the author outlines 6 strategies which capture the emerging trends we see examples of all around us:
- A more personalized product or service.
- A closed-loop process.
- Asset sharing.
- Usage-based pricing
- A more collaborative ecosystem
- An agile and adaptive organization
- “Innovators sometimes use technology to move away from traditional hierarchical models of decision making in order to make decisions that better reflect market needs and allow real-time adaptation to changes in those needs. The result is often greater value for the customer at less cost to the company”.
#6 is the essence of of AGILE and in particular, Agile-Decision-Making.
How AGILE is your decision-making, innovation and business-model migration?