Recession demands a new business model

Is it time to admit that your current business model, or at least part of it, is finished, dead and buried? For example, Sun Microsystems estimates that 20 percent of its in-house technical knowledge becomes obsolete every year. Think about how many CEO's have been fired recently and the failures of what were some of the most admired companies in the world. The message is clear: deliver big, or die fast.
However, companies can't change, innovate and create a radical new business model, or reinvigorate an old one unless they first understand what the components of their business concept are. What is your current business missionyour overall objective?
What makes or could make you different than anyone else? Has your strategy remained the same for the last two years? What unique core competencies, strategic assets, or processes do you possess that could be used as sources of innovation and allow you to command a premium for your product or service.

Category:

Education

Tags:

• Purpose
• Attitude
• Competence
• Team
• PACT