Joint Wharton/NAA Lecture & Networking event
Thursday 9 February at 6.30pm at INSEAD
Professor Serguei Netessine
Timken Chaired Professor of Global Technology and Innovation at INSEAD &
Research Director of the INSEAD-Wharton Alliance
Innovation is at the heart of entrepreneurial success and transformational growth. Conventional strategies for innovation are typically based on product innovation, i.e., designing new products or services that address unmet market needs or leverage new technology to satisfy existing market needs. While R&D processes that are needed to innovate through better technologies and new products are well-studied and exist in most companies, few companies systematically practice business model innovation. Unlike product or technology innovation, the process of Business Model Innovation is not expensive. Yet, it requires a very different approach and frame of thinking.
In this session Prof Serguei Netessine will talk about what the Business Model is and we will examine a set of pioneering companies that alleviate inefficiencies in their operating models to design new Business Models that revolutionize the way of doing business in their respective industries. We will discuss comparative advantages and disadvantages of different innovation approaches and what it takes to implement Business Model Innovation in a company. Read more about Serguei here.
Recommended reading: Girotra and Netessine “The risk-driven business model: four questions that will define your company”, Harvard Business Press, 2014 (available in English, Mandarin, Portuguese, Russian). http://www.defineyourcompany.com