Business Model (R)evolution?
In the recent SAP radio talk show “Innovating Innovation: Coffee-Break with Game-Changers” the host Bonnie D Graham raised a question of how to stay agile and quick at managing business models as well as processes? How to deal with new game-changers – complexity and speed of innovation? How to revolutionize yourself just to stay relevant in the business world?
The expert panel was represented by a powerful trio of Peter Mittemeyer, the Head of Business Innovation and Transformation EMEA for SAP Business Transformation Services, Dr. Hichem Maya, the Head of SAP Business Transformation Services at SAP Europe Middle East and Africa, and Michel Sérié, the Global Head of Service Innovation, Global Services for SAP.
To sum up the vivid discussion on how the technology not only enables but triggers the business model (r)evolution and how disruptors like John Deere and Uber change the way we should think about business model innovation, here are some key thoughts from the experts:
- To look at technology as technology will not make any difference to your business but to look at technology as a business opportunity will. The new platform-based technology requires a business value definition and can serve as a starting point for business transformation.
- The barriers to entry the market are being lowered by technology. That enables start-ups create their own rules by delivering completely new business models without being limited by existing assets.
- In 3 years start-ups will be able to change everything in your business which means pressure of innovation for big companies today.
- To stay competitive, companies should keep up speed of fostering the culture of innovation inside the organization and even revolutionize the way they do innovation.
- Decoupling the technology and the physical chain from the business value chain allows customers to dream big and to achieve more with less.
- Technology should be used to tackle complexity with a smart simple approach.
- The organizational structure, skills and knowledge should serve the business model and allow implementing innovation in the fastest way, e.g. by using cross-cutting project-oriented structure.
Please find these and more facts and predictions about business model innovation in the show replay.
It’s high time to open our mind to innovation and start thinking, dreaming and acting big without own boundaries.