This document is a pre-assignment summary for a business strategy course. It summarizes two papers on business model innovation. The papers discuss how business model innovation has led to success for many companies and reshaped entire industries. However, less than 10% of company innovation investment is focused on new business models. The summary then provides a framework to analyze existing business models, define new customer value propositions, and deploy new strategies and tactics. It stresses the importance of understanding one's own and competitors' business models to reinvent one's approach. The implication is that companies must now change their business models more frequently, within 5 years, to remain competitive as new models emerge.