Business Model Innovations

Professor Arcot Desai Narasimhalu, Director of SMU Institute of Innovation and Entrepreneurship, said in a commentary that every company, large and small, has to continuously review its product and service offerings and reinvent its business model, citing General Motors, Apple and Kodak as examples. He used the example of Amazon to show how enlightened companies proactively reinvent themselves before new upstarts disrupt and make them obsolete. He advised that industries and companies within an industry should regularly review their long term sustainability, as those that have not changed their business models in a long while invite disruptors to their door steps. Companies that disrupt their current products and services actively through new business models and are able to find a means of retaining their customers during the transition are the ones that are likely to have a sustainable future.  Those that remain passive bystanders would inevitably fall by the wayside.

Source
Lianhe Zaobao