When most of us think of innovation, we think of new products, services. and technologies which enhance people’s lives. Saul Kaplan, author of The Business Model Innovation Factory: How to Stay Relevant When The World is Changing and Chief Catalyst of the Business Innovation Factory, explains in this video that the largest and most important innovation in the 21st century is being all-too-often ignored.
In the Global Economy of today, it is important to always be evaluating your current business model and thinking of ways to improve it. The trick is to find a way to propel/sustain your current business model while also prototyping and testing new business models. It can be quite a juggling act!
In most cases, once you realize your current model isn’t working, it’s already too late. In the full interview for Collaboration 21, Saul explains how to prevent this and how to continue business model innovation for perpetual growth.