Is your business model future proof?
Is your company seriously profiting from the digital economy?
Do your people have the right competences and attitude for this customer-focused economy?
Does your company enjoy a culture of constant innovation?
It’s not just a good question. It’s the question. Think about the speed of change in the external world. Think about the intensity of global competition. Think about the bargaining power of today’s customers. Then think about your company. How much of your business model has remained essentially unchanged for, say five years or more?
When was the last time you had that great idea that fundamentally changed your business model? How fast are you currently renewing your products and services? In a world where what you do now can quickly lose its value and become irrelevant, the issue is increasingly what you do next.
We live from ideas. We are creative people. We have seen how ideas changes people’s lives, make people happy, make people wealthy, make people healthier. This is what we do. We are in the idea business. Business model life-cycles are getting dramatically shorter. We all know that. But what are we doing about it?
Look around the world today and we see entire industries whose business models have gone belly-up. (Think about the music industry, insurance industry or the travel industry for example). Ask yourself: is our organization already committing enough energy to innovation and strategic renewal? Will we be overtaken by what’s next or will we create it?