Business Model Innovation: Industry’s Latest Fad or a Useful Approach to Strategy?

March 24, 2017 | State of the Market Report

The many highly successful business model innovations (BMIs) recently enabled by digital technology have made BMI a hot topic. In this case, the hype is largely justified: BMI is a major driver of corporate growth and profitability. However, BMI is often defined in a nebulous manner that makes it difficult to use. To overcome this, Lux offers two simple but robust tools to help identify, discuss, and promote BMI. The Lux BMI Framework is based on a formal analysis of traditional product and market innovation, revenue model innovation, and other nontraditional forms of innovation. The Lux Narrow BMI checklist is based on learnings gleaned from digital-enabled BMI. This report also includes expert commentary from the Industrial Research Institute’s New Business Development Network.

Coverage Areas

  • Accelerating Materials Innovation
  • Advanced Materials
  • Agro Innovation
  • Alternative Fuels
  • Autonomous Systems 2.0
  • Bio-based Materials and Chemicals
  • Coatings
  • Consumer Choices in Food, Health, and Wellness
  • Corporate Strategic Intelligence: Chemicals and Materials
  • Digital Health and Wellness
  • Digital Transformation
  • Distributed Generation
  • Electronic User Interfaces
  • Energy Storage
  • Exploration and Production
  • Food and Nutrition
  • Future Grid
  • Future Platforms
  • Industrial Big Data and Analytics
  • Industrial Internet of Things
  • Intelligent Buildings
  • Materials and Manufacturing
  • Materials Design and Manufacturing
  • Nanotechnology
  • Next Generation Power
  • Owning the Energy Transition
  • Sensors
  • Solar
  • Sustainable Building Materials
  • Water
  • Wearable Electronics

Table of Contents

  • Title page

Lead Analyst

Matthew Wagner
Senior Analyst

Contributors

Isaac Brown
Mark Bunger
Brent Giles, Ph.D.
Joice Pranata

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