2. INTRODUCTION
*The search for new business ideas and new business
models is hit-or-miss in most corporations
*Managers skilled at executing clearly defined
strategies are ill-equipped for out-of-the-box thinking.
*When good ideas emerge, they’re often doomed
because the company is organized to support one way
of doing business and doesn’t have the processes or
metrics to support a new one.
3. TRADITIONAL WAYS
Tested ways of framing the search for ideas:-
1. Competency based
2. Customer focused
3. Changes in business environment
6. *With advances in technology and big data,
it’s now feasible to gather and crunch
enormous amounts of data in a variety of
contexts.The data can be used to enhance
product or service or create new BUSINESS
VALUE.
8. *Digitised versions of physical assets transforming the
way people operate in other industries like automobile,
health care, etc.
*Industries need longterm, secure way to store digital
assets.
*Digitisation slashes distribution costs.
*Offering customers more choices implies greater tailor
services.
10. *The science of big data along with new IT standards
allow enhanced data integration;
*Sharing and coordination of information across
sectors and industries.
Ex. City of Bolzano
IBM developed Network of Sensors
Monitor temperature, CO2, normal behaviour
Abnormalities:Call to relative/friend
Behind The Scenes
common IT system links all the relevant agencies
lowered assistance and care costs by 30%
Reduce the need to build and run special
accommodations for them.
12. The ability to combine disparate data sets allows
companies to develop a variety of new offerings for
adjacent businesses.
EX. Vodafone’s partnership with TomTom:-
Vodafone can identify which of its subscribers are
driving, where they are, and how fast they’re moving.
Such data can be used to pinpoint traffic jams—
information that is extremely valuable to TomTom,
which buys it from Vodafone.
14. *IT systems have helped automate business processes.
*Now companies have practical way to take the
processes they’ve perfected, standardise them, and sell
them to other parties.
*Any process that is best-in-class—but not central to a
company’s competitive advantage—can be turned into
a profitable business.
*Cloud computing
Allows easy distribution of software;
Offer customers “pay as you go” pricing.
16. Managers must be skilled and must think out of the box.They
should not be doomed by the narrowly focused
companies.Instead, he must be confident, should handle the
competency and customer-focus issue with careful conduct and
must be compliant with the changes in the business
environment.
As a manager, he must learn the new patterns of innovations,
teach them to the employees and implement it.These new
patterns of innovations are the key to success.
