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
Consumer Choices in Food, Health, and Wellness
Corporate Strategic Intelligence: Chemicals and Materials
Digital Health and Wellness
Digital Transformation
Electronic User Interfaces
Energy Storage
Exploration and Production
Food and Nutrition
Future Grid
Future Platforms
Industrial Big Data and Analytics
Industrial Internet of Things
Materials Design and Manufacturing
Nanotechnology
Next Generation Power
Owning the Energy Transition
Sensors
Water
Wearable Electronics

Title page

Lead Analyst

Matthew Wagner, Ph.D.

Senior Analyst

matthew.wagner@luxresearchinc.com

Contributors

Isaac Brown

Mark Bunger

Brent Giles, Ph.D.

Joice Pranata

Related companies	Nestlé, Ashland, IBM, KMG Chemicals, Kaeser, Ocean Spray

About Lux Research

Lux Research is a leading provider of tech-enabled research and advisory solutions, helping clients drive growth through technology innovation. A pioneer in the research industry, Lux uniquely combines technical expertise and business insights with a proprietary intelligence platform, using advanced analytics and data science to surface true leading indicators. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make more informed decisions today to ensure future success.

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