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Business model innovation

Apple's market capitalization rocketed from around $1 billion in early 2003 to over $150 billion by late 2007. Apple did something much smarter than what its competitors did. "... the company built a groundbreaking business model that combined hardware, software, and services," say authors of December 2008 Harvard Business Review article, "Reinventing Your Business Model."

Business model innovations have "shaped entire industries and redistributed billions of dollars of value." But, add the authors: "... there's really no point in instituting a new business model unless it's not only new to the company but in some way new or game-changing to the industry or market."

Is it time for business model innovation in your organization so you can maintain your thriving business?

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