DOI: 10.4324/9781003215097-1

Due to today’s intense competition1 in increasingly global markets, companies in all industries worldwide find themselves competing under ever-changing conditions. These changes force companies to rethink and innovate their operational business models more frequently and fundamentally, as innovation based solely on new products and aimed at local markets is no longer sufficient to sustain competitiveness and survival. Competitors can relatively easily copy products, and local market segments today are often quickly captured by global rivals located elsewhere.

Business model innovation matters. With approx. 30 percent of CEOs pursuing it, business model innovation is not only much higher on industrial ...

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