Classic strategy has taught us that we should ask one key question to win; “can we make it better or can we make it cheaper?”.
With the rapid (r)evolution of online business models I believe the paradigm has changed. In many cases, we can now do both – we can create a business model that delivers a product or service both better and cheaper.
The challenge is that too many businesses are taking existing business models and adapting them to online. Certainly a lot are getting benefits of reduced cost and they are making it easier for the customer. But most are missing a golden opportunity to fundamentally change the business model and make it better and cheaper.
Below is a link to new reports from Deloitte on ‘The Internet of Things’ and how companies can be thinking about its use across their business and changing the business model.
Enjoy and I hope it triggers your thinking on the business model of the future.
