Abstract
Business model innovation is important for the survival of any company, especially today. Nevertheless, many companies are too reluctant when it comes to develo** new business models. In this chapter, Siegfried Lettmann, an executive interim manager who develops new, innovative business models for his clients, among other things, describes what this process looks like in practice. Suitable tools can help to minimize business risks throughout the process. By using these tools and modern methods, companies can develop a new business model in a structured and efficient manner. The new business model is only actually implemented once it is assured that it will also work on the market, step by step, from thought experiment to reality—and to market success.
Business model innovation is one of the most underutilized but powerful methods of generating sustainable profit growth and economic development and of creating new markets and industries (Mills-Scofield, Business model generation: A handbook for visionaries, game changers and challengers. Campus, 2011).
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Notes
- 1.
This is a real company from Austria, whose name I have anonymized in this paper by using the name TERRANEW.
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Lettmann, S. (2023). Targeted Development of an Innovative Business Model in Practice. In: Buchenau, P. (eds) Strategic Sales Management. Future of Business and Finance. Springer, Cham. https://doi.org/10.1007/978-3-031-40605-8_9
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