Start-Ups

Using Business Model Innovation

Date Added: May 2009
Format: HTML

Successful business model innovation requires identifying new, previously uncovered opportunities and changing how a firm operates. Large corporations struggle with business model innovation. Corporate bureaucracies, aversion to risk and entrenched ways of doing business make it hard for them to identify and pursue new ways of doing business. Small businesses, however, are much more agile and tend to be better at business model innovation.