Using Business Model Innovation to Reinvent the Core

Using Business Model Innovation to Reinvent the Core

          
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Using Business Model Innovation to Reinvent the Core

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  • Starting the Journey

    With solutions and best practices in mind, company leaders should reflect on their three- to five-year plan for the core business. For some, it might make sense to stow away the BMI tool for the time being. But for the 50 to 70 percent of companies with large but slow-growing cores, now is likely the time to consider using this tool. For those about to begin the journey, there are four important questions that leaders should take to their organization:

    • What is the growth ambition for the core business?
    • Are traditional approaches still sufficient, and will they remain so?
    • What business model solutions from outside the industry could deliver superior return on investment?
    • How could these solutions be put to work in the organization?

    Bolder BMI solutions can be the key to driving growth in the core business and maintaining sustained outperformance. Along the way, leaders must watch their business cycle, their competitors, their customers, and especially those pitfalls.