Business Models: A Discovery Driven Approach

The business model concept offers strategists a fresh way to consider their options in uncertain, fast-moving and unpredictable environments. In contrast to conventional assumptions, recognizing that more new business models are both feasible and actionable than ever before is creating unprecedented...

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Bibliographic Details
Published in:Long range planning 2010-04, Vol.43 (2), p.247-261
Main Author: McGrath, Rita Gunther
Format: Article
Language:English
Subjects:
Business models
Organizational learning
Studies
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Summary:The business model concept offers strategists a fresh way to consider their options in uncertain, fast-moving and unpredictable environments. In contrast to conventional assumptions, recognizing that more new business models are both feasible and actionable than ever before is creating unprecedented opportunities for today's organizations. However, unlike conventional strategies that emphasize analysis, strategies that aim to discover and exploit new models must engage in significant experimentation and learning – a ‘discovery driven,’ rather than analytical approach.
ISSN:0024-6301
1873-1872
DOI:10.1016/j.lrp.2009.07.005