In our interconnected and always-on world, business lifecycles get shorter and shorter. Companies have always expected to change business models from time to time, but now many keep updating them rapid-fire. Sometimes, when the model continues to meet your organizational goals for revenue, cost and competitive differentiation, you don't have to change it right away. But you must be ready to update it at any time, and you must know when and how to do so.
Business leaders are more prepared than ever to test, tweak and redesign their core activities. In fact, business models are changing as often as product designs. So are partnerships, revenue models and whole host of core business decisions. It is very similar to the way designers keep improving products in light of customer experiences and preferences. Driving this new fluidity of business design is the simple reality that changes in customer expectations and competitive activity don't adhere to yearly planning schedules. Change is being driven by what happens in the marketplace, not the conference room.
To read the full, original article click on this link: Three Keys To A Business Model That Can Change With The Times - Forbes.com
Author: Saul Berman, Ragna Bell and Eric Riddleberger
