Business model innovation was one of many hot topics at Innovation Suite 2011. The conference hosted thirty two invitees from nine countries and a variety of companies including GE, Bayer, Kraft, and SAP. On the minds of many was how to create new business models to transform a company and move to higher ground. Business Model Innovation is defined as follows (from Wikipedia): Business model innovation results in an entirely different type of company that competes not only on the value proposition of its offerings, but aligns its profit formula, resources and processes to enhance that value proposition, capture new market segments and alienate competitors. Here are four ways to conceptualize a new business model: