Reinvent Your Business Model How To Seize The White Space For Transformative Growth
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Seizing the White Space
Transformational new growth remains the Holy Grail for many organizations. But a deep understanding of how great business models are made can provide the key to unlocking that growth. This text describes how companies can achieve transformational growth in new markets or, simply put, how they can seize the white space.
Reinvent Your Business Model
Author: Mark W. Johnson
language: en
Publisher: Harvard Business School Press
Release Date: 2018-07-10
Business model innovation is the key to unlocking transformational growth--but few executives know how to apply it to their businesses. In Reinvent Your Business Model, Mark Johnson reveals the playbook. Johnson lays out an eminently practical framework identifying the four fundamental building blocks that make business models work. In a series of in-depth case studies, he goes on to vividly illustrate how companies are using innovative business models to achieve transformational growth by: Fulfilling unmet customer needs in their current markets Serving entirely new customers and creating new markets Responding to tectonic shifts in market demand, government policy, and technologies that affect entire industries He then lays out a structured process for designing a new model and developing it into a profitable and thriving enterprise, while investigating the vexing and sometimes paradoxical managerial challenges that have commonly thwarted so many companies in their unguided forays into the unknown. Business model innovators have reshaped entire sectors--including retail, aviation, and media--and redistributed billions of dollars of value. With road-tested frameworks, analytics, and diagnostics, this book gives executives everything they need to reshape their businesses and achieve transformative growth. Johnson has also added a new chapter on digital transformation, which presents a framework for digital business models and four new case studies.
Thinking in New Boxes
When BIC, manufacturer of disposable ballpoint pens, wanted to grow, it looked for an idea beyond introducing new sizes and ink colors. Someone suggested lighters. LIGHTERS? With an idea that seemed crazy at first, that bright executive, instead of seeing BIC as a pen company—a business in the PEN “box”—figured out that there was growth to be found in the DISPOSABLE “box.” And he was right. Now there are disposable BIC lighters, razors, even phones. The company opened its door to a host of opportunities. IT INVENTED A NEW BOX. Your business can, too. And simply thinking “out of the box” is not the answer. True ingenuity needs structure, hard analysis, and bold brainstorming. It needs to start THINKING IN NEW BOXES —a revolutionary process for sustainable creativity from two strategic innovation experts from The Boston Consulting Group (BCG). To make sense of the world, we all rely on assumptions, on models—on what Luc de Brabandere and Alan Iny call “boxes.” If we are unaware of our boxes, they can blind us to risks and opportunities. This innovative book challenges everything you thought you knew about business creativity by breaking creativity down into five steps: • Doubt everything. Challenge your current perspectives. • Probe the possible. Explore options around you. • Diverge. Generate many new and exciting ideas, even if they seem absurd. • Converge. Evaluate and select the ideas that will drive breakthrough results. • Reevaluate. Relentlessly. No idea is a good idea forever. And did we mention Reevaluate? Relentlessly. Creativity is paramount if you are to thrive in a time of accelerating change. Replete with practical and potent creativity tools, and featuring fascinating case studies from BIC to Ford to Trader Joe’s, Thinking in New Boxes will help you and your company overcome missed opportunities and stay ahead of the curve. This book isn’t a simpleminded checklist. This is Thinking in New Boxes. And it will be fun. (We promise.) Praise for Thinking in New Boxes “Excellent . . . While focusing on business creativity, the principles in this book apply anywhere change is needed and will be of interest to anyone seeking to reinvent herself.”—Blogcritics “Thinking in New Boxes is a five-step guide that leverages the authors’ deep understanding of human nature to enable readers to overcome their limitations and both imagine and create their own futures. This book is a must-read for people living and working in today’s competitive environment.”—Ray O. Johnson, Ph.D., chief technology officer, Lockheed Martin “Thinking In New Boxes discusses what I believe to be one of the fundamental shifts all companies/brands need to be thinking about: how to think creatively, in order to innovate and differentiate our brands. We need to thrive and lead in a world of accelerating change and this book challenges us to even greater creativity in our thinking. One of the best business books I’ve read in a long time.”—Jennifer Fox, CEO, Fairmont Hotels & Resorts “As impressive as teaching new tricks to old dogs, Thinking in New Boxes is both inspirational and practical—a comprehensive, step-by-step guide to sharpening one’s wits in order to harness creativity in the workplace.”—Peter Gelb, general manager, Metropolitan Opera