The progress of globalisation, the intensity of technological change, and shifts in industry borders have all created opportunities for new business models. Indeed, business model innovation can create huge opportunities while threatening traditional means of generating revenue. Such innovations can, consequently, make the fortunes of some firms while killing the market positions of others.
A two-day course, ‘Business model innovation: Changing the game’, takes place at the Institute for Manufacturing in Cambridge on 15 and 16 March. Dr Chander Velu, University Lecturer in Economics of Industrial Systems, will cover what business model innovation is and how new business models can help to create sustainable competitive advantage.
Through attending the course, delegates will:
• See how business model innovation differs conceptually from other forms of innovation
• Cover the strategic challenges for incumbent firms and new firms in responding to opportunities for business model innovation
• Think systematically about digital technologies and their implication for business model innovation
• Consider the key principles of organisational design and leadership issues for implementing new business models
In a recent article published in the IfM Review, Dr Chander Velu considers some of the reasons productivity has been slowing over the past 10 years, and whether business model development should be institutionalised alongside technological development in order to improve productivity.