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DISRUPTING BELIEFS: A NEW APPROACH TO BUSINESS MODEL INNOVATION (5 steps…
DISRUPTING BELIEFS: A NEW APPROACH TO BUSINESS MODEL INNOVATION
Examples of disrupting innovations
Bitcoin
Coursera
Tencent
Uber
5 steps to turn your beliefs upside down
Outline the dominant business model in your industry
Dissect the most important long-held belief into its supporting notions
Examples of company who did this
Target
Apple
Plantir
Philips Lighting
Amazon web service
TSMC
Task Rabbi
Turn an underlying belief on its head
Sanity-test your reframe
Translate the reframed belief into your industry’s new business model
Four places to reframe
Innovating in customer relationships: From loyalty to empowerment
The cost of acquiring new customers has fallen, even with- out loyalty programs
Switching costs are low
Customers now interpret efforts to win their loyalty as obstacles to self-actualization
Innovating in activities: From efficient to intelligent
Digitization is empowering businesses to go beyond
efficiency, to create learning systems that work harder and smarter
Innovating in resources: From ownership to access
Innovating in costs: From low cost to no cost
Dibyanshu Sekhar, 33075