New framework distinguishes game-changing business model innovations from incremental ones.
Business model innovation is important for companies, but many struggle with how to do it effectively. A new framework called "The Business Model Innovation Map" helps categorize different types of business model innovation based on their level of novelty. This framework can distinguish between transformative innovations and incremental ones, providing a clearer understanding of how to manage these innovations. By using real-life examples, the framework helps companies better grasp the different challenges posed by various types of business model innovation.