Myths Flashcards
The initial ascent myth:
the myth that commercial success comes with ideas that no one has ever had before. But the fact is that new business models frequently borrow from other industries.
The think big myth:
The myth is that business model innovations are always radical and new to the world. The fact is that BMI in the same way as product innovation, can be incremental.
The technology myth:
The myth is that every BMI is based on fascination new technology that inspires new product. But in reality although new technology can inspire new business models, they are often generic in nature.
The luck myth:
The myth is that BMI is just a matter of luck and can’t be undertaken systematically. The fact is that you will have to put in as much hard work in creating new business models as into new products, technologies, after sales processes or logistics concepts.
The Einstein myth:
The myth that only one creative genius can come up with truly innovative ideas. But in reality innovation is no longer a matter of individual performance, it is a team sport. This is especially true for BMI, where a lack of cooperation means that a single persons good idea will remain just that, an idea.
The size myth:
The myth that big breakthroughs require big resources. In reality: small start ups are responsible for the most important business model revolutions.
The R&D myth:
The myth that R&D departments are the source of important innovations. The fact is that BMI is profoundly interdisciplinary in nature. Technology can certainly play a crucial role, but only in connection with the business model.
