Business model redefinition

The business model is the core of any business, it defines how the company operates (both internally and with its customers). Unless accompanied by a suitable business model, no new product or service idea will take off. In order to stay ahead of competition, companies must continuously reinvent their business models. During a business model redefining process, the following topics are usually covered:

• Illustrating the company’s existing business model(s)
• Identifying ways to develop the current or a new business model
• Testing the new business model (with key stakeholders)
• Evaluating areas to develop and creating a plan
• Implementation of new business model

We have helped our clients in redefining their business models for example in the following situations:

• Need for creating business models for innovations or new product & service concepts
• Redefining current business models to maintain or regain profitability
• Differentiating and managing multiple business models for various product lines