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

Business model innovation (BMI) is a hot topic for those interested in corporate innovation. As with any trendy business management concept, one must wonder whether it lives up to the hype. In one sense, BMI does live up to its hype: it is a major driver of corporate growth and profitability. However, it is also nothing new. Rather, it is what firms have always done in order to survive and thrive. Unfortunately, BMI is often defined in a vague and nebulous manner that makes it difficult to use the concept to guide your actions.

This webinar will:

• Develop a concrete, two-part definition of BMI
• Present the Lux BMI Framework, a comprehensive tool to help firms identify, discuss, and promote BMI based on a formal analysis of what constitutes a business; it encompasses traditional product and market innovation, revenue model innovation, and other nontraditional forms of innovation
• Present Lux’s list of Common Narrow-BMIs which summarizes learnings gleaned from digital-enabled BMI and is a deeper dive into revenue model innovation
• Include several illustrative historical and corporate examples of BMI and expert commentary from the Industrial Research Institute’s New Business Development Network