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:
SIT will hold its 7th Innovation Suite in Berlin, Germany from October 24-26, 2011. Participants will learn the tools and principles of the SIT method step-by-step. They will also learn how to implement an innovation program within their companies.
I invite you to join me at Innovation Suite 2012 in New York City February 27 to 29. Innovation Suite is a 3-day premium training course that teaches:
* How to apply SIT innovation tools on your specific business issues
* How to facilitate innovation sessions
* How to develop an innovation culture in your business
My favorite part about this course: every participant gets a personal SIT facilitator to coach them before and after the course! Whether you are an experienced SIT practitioner or completely new to the SIT method, this course helps you develop critical new skills on your road to innovation mastery.