This document discusses business model innovation. It begins by noting that business model innovation can range from incremental to radical changes, and can involve reengineering existing business processes or creating entirely new business concepts. It then provides examples of companies like Dell, Ryanair, Zara, and Skype that innovated their business models. The document also discusses how business models are changing with trends like the collaborative economy and how platforms are emerging as new intermediaries. It emphasizes that an innovative business model involves a new configuration of the value proposition, resources, and organization to generate value. Finally, it notes that business model innovation often stems from entrepreneurs wanting to do things differently and sharing their passion through experimentation over a long period of time.