Business Model Innovation Becomes the New Strategic Focus

Business strategy is all about defining markets, determining the firm’s competitive positioning within the defined market, and optimizing the firm to compete most effectively from that positioning. This involves identification and accumulation of appropriate core competencies, as well as anticipation (and perhaps cultivation) of industry evolution. However, the pace of economic and competitive change in the 21st century is such that the traditional approaches to strategic analysis that consultants and firms adopted in the ‘60s, ‘70s and ‘80s, no longer serve organizati.....