Recognizing and tapping new business opportunities
The classic innovation concept then experiences amplification, when new services or business models – but also the opening up of new markets, sources of raw material or new forms of organizations- are being included. In this case the product development turns into ‘New Business Development’. This phrase includes all activities which contribute significantly to the realization of new business opportunities.
Developing new business structures and business models with scenarios
New business options might evolve from new markets but also from new products and technologies. In complex and fast changing environments market and product innovations often coincide. As a result, new business models evolve which can be systematically forethought with the Scenario-Management™.
- Amplification of already existing business structures: The current business structure gets complemented with new market segments and new market services. This is how an extended business structure comes up, with which market extending and offer extending business fields can be identified and evaluated.
- Scenario-based determination of a future business structure: Scenario-based market segments and market services (product scenarios) are compared to one another in a future business structure. This allows us to identify completely new business opportunities.
- Scenario-based development of business models: With the help of scenario-based business models it can be planned ahead, on which way new market services will be created and made available for (new) markets. In combination with business structures complex Business Ecosystems can be thought ahead.
- Using scenarios as a test environment for business models: Business models can also be created in a pragmatic way, for example through the usage of the Business Model Generation. The big advantage here is the possibility to quickly create new models and to refine them on and on.
In any case it is very important to classify the business models to the strategic context. It is especially relevant whether it is a business model for an already existing business or whether the models concrete a completely new business opportunity. Ultimately it is the goal to have a business model portfolio in the strategy which is built on superior competences and therefore is not copyable.