Recent MIT CISR research found that top performing firms spend at least ten percent of their total innovation investment on new business models, defined as efforts to generate new sources of revenue by addressing new types of customer needs (e.g., a car manufacturer trying to develop profitable mobility services for people who may not ever own a car).
Firms traditionally face many challenges in creating and scaling profitable new business models. And even more challenging is to systematically develop multiple successful new business models.
We will begin this research by conducting an in-depth case study on a firm that has developed multiple successful new business models, and supplement that with data from multiple successful new business model efforts from other firms, to address the following questions:
- How are firms designing themselves for digitally-enabled business model innovation?
- What are common challenges faced by large, traditional companies in scaling individual new business models, in terms of both reach and range, and what critical success factors help to overcome them?
- How do large companies systematize the development of new digitally-enabled business models?
Seeking: Teams of executives with experience in scaling and systematizing multiple successful new business models within a large company, such as Product Owners and Heads of Innovation.
Contact: Nils Fonstad (nilsfonstad@mit.edu)
