Everyday life of the customer or by trying to solve

This preview shows page 72 - 74 out of 86 pages.

everyday life of the customer or by trying to solve the problems that the customer is facing. Findinglatent customer needs is not easy and requires experimentation, but can open entire new possibilities.The company needs a clear direction and the management needs to follow global trends to be able toquickly adjust to new offerings in competing markets.13.3.2.3Involve in horizontal partnershipsIn order for the telecom business to find new market areas, more partnering and co-developing shouldbe done in horizontal partnerships, as has been done with the mobile certification protocol. Sinceeveryone in the market owns a cellphone, it is a great platform for new services, but they cannot bedeveloped by only one of the telecom operators, as they need to work universally. Developing joint
71research projects and new service offerings, expands everyone’s market, and focus on differentiatingdevelopment can be done in parallel.13.3.2.4Develop networking and innovation incubatorThere is a need for a meeting point where a multitude of competence would meet and innovations couldbe created, developed and commercialized on a fast schedule. In this place the innovator would haveaccess to experience, power and money, and for instance all paperwork could be taken care of by thisinstance to allow the innovators to focus only on fast commercialization. An increased amount ofintellectual contacts in a limited space also creates more ideas, as it has been proved in research it issimply a matter of mathematical odds. To create a place with elements similar to those present in SiliconValley is an idea introduced by many of the interviewees.13.3.2.5Create operating model in favor of innovationTo ensure that business models are created within a company, the entire company should live andbreathe innovation and be organized in such a way that it supports BMI. Having a separate group whodoes all of the innovation is not a good idea, since they will become a wasteland of half-bad ideas andseparated from the rest of the organization. When an idea comes from a separate unit, the resistancewill be much higher than if people from around the organization have been involved and the generalattitude is that “we have developed this” instead of “they have developed it”. In other words, everyonein the organization should be able to get involved in business model innovation, and there should be anarticulated demand for business model innovations, and a culture that promotes risk taking. Innovationsand ideas should not only be sought out from within the organization, but also external ideas andinnovations should be considered. There needs to be a system where anyone can submit an idea and gethelp and support to develop it further, and where the organizational structure does not create morebarriers in terms of middle management as gatekeepers whom must be passed to introduce the idea onthe next level. An organization that lives and breathes business model innovation both in terms oforganizational structure and corporate culture is what the BMI-conducive organization introduced by

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 86 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Spring
Professor
Fillipov
Tags
Snow, Business Model Innovation

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture