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The Latest Innovation: Redesigning the Business Model

The Latest Innovation: Redesigning the Business Model

Knowledge@Wharton | Innovation | 18 November 2014

Innovation has become a buzzword in business today, as new-product sales advantages so often flow from new designs or features. Think mobile phones, tablets, or even autos. But apart from product or service leaps, can innovation in the way a company conducts business give it a leg up? Research from Wharton management professor Raffi Amit and co-author Christoph Zott, a professor at IESE Business School in Barcelona, Spain, suggests that it can. In this Knowledge@Wharton interview, Amit covers the highlights of a research paper titled, “Business Model Innovation: Creating Value in Times of Change.” The authors note: “Business model innovation … relies on recombining the existing resources of a firm and its partners, and it does not require significant investments in R&D.”

(watch video & read more)

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