Tag: business model
What is the secret of enduring business success? The answer, according to Bain & Company’s Chris Zook and James Allen, is to develop repeatable business models. This is described in Bain’s website on Repeatability and highlighted in a recently published book by the authors.
In this podcast on HBR Ideacast, Chris shares that businesses which keep changing courses and introduce unnecessary complexity in their systems are actually killing themselves. To cope with a fast changing, highly complex and unpredictable world, businesses shouldn’t introduce increasingly convoluted systems that add layers of bureaucratic layers that slow down work processes unnecessarily.
Continuing along the theme of “Zagging” as a business strategy (ie radical but customer valued differentiation), I thought it would be interesting to highlight examples of businesses which apply such “Blue Ocean” strategies in their core value propositions. By offering something radical and unique yet deeply appreciated by their customers and other stakeholders, they are able to stand out in an increasingly hyper-competitive marketplace. This would mean offering a new innovation that isn’t seen in the existing marketplace and competing on different terms from incumbents.
As expected, many of these examples are in the mouth watering F&B industry, but there are also a few cases of consumer oriented innovation in other domains both digital and non-digital.
Courtesy of Rentoid
In an age where anything and everything is trending towards FREE, companies face many increasingly thorny dilemmas on the issue of pricing. What should one charge in order to make a profitable and sustainable living? How can one stand out from other similar businesses using price as a lever? Is there a trade-off between the number of users/subscribers/fans and actual paying customers?