“Business models play an essential role in defining the value that any organization delivers to its customers. When an industry or group fundamentally changes how it provides value, business model innovation is often involved,” Alex Osterwalder
For example, companies like Uber and Airbnb redefined property ownership as the foundation for delivering customer value. Historically, taxi companies and hotels "rented" their property to consumers who paid either by the mile or the time in which they occupied the owner's premises.
Without owning property, these companies serve as middlemen, enabling buyers and sellers to come together efficiently using a mobile app and / or a website. Instead of hailing an Uber on the street, as you would a taxi, a mobile app is the required method of contact.
The business model innovations associated with companies like Uber and Airbnb are sufficiently profound to have significant ripple effects on the social fabric of countries around the world.
The pace of change is accelerating every day. No one can stand still.We’ve all felt the disruptive influence of the changes in last decade. It has changed every aspect of our lives from the way we shop, to the way we get our news and entertainment and even in the way we interact with one another.It hasn’t simply changed how things are done but it has changed what is done and also what people want.
This gives opportunity for whole new business models and ways of trade are developed.