Business model innovation is relatively easy to do when you’re a startup. But it’s also a really important skill for established firms to build. In this post I discuss why, and how to approach it effectively.
Can big organisations innovate? Of course they can. This is actually an uninteresting question. It’s more valuable to figure out how to best innovate given your circumstances – whether you’re big or small.
We often think that it’s particularly hard for big, established firms to innovate. Yes, there are obstacles. And yet, many manage to innovate, and to do so very effectively. Dow Corning and their business model innovation in launching Xiameter is a good case study of an innovative big firm.