This is in large part due to the tremendous returns garnered by companies that have developed new business models
It refers to the process of creating or making new business models
Deeply influenced by business informatics in the early years, business models
and business model
innovations became a pervasive part of our business life.
Business plans in nonprofits are getting their share of attention today, but business models
are less well understood.
However, competition and change are relentless, so business models
become obsolete, e.
Insurers need not abandon traditional business models
to gain a foothold on the Internet.
While it seemed logical that industries relying heavily on digital technologies (such as the telecom, video game, music, and movie industries) would be highly disrupted and struggle to find new sustainable business models
, many were surprised to see traditional industries, such as hotels or taxis, radically reshuffled by the advent of new business models
These forces will reshape insurers' traditional business models
, particularly in the overcrowded personal-lines and small-commercial segments.
The Internet has enabled a whole range of business models
that would have been unimaginable just a couple decades ago, from "free-mium" revenue structures to mass customization options.