Over the last year or so, we’ve been discussing digital futures and the ways they might affect business and life in the next decade. We’ve touched on some specific ways these technologies are already impacting businesses and will continue to do so, but now it’s time to look at the bigger picture: how exponential technological change will alter the very foundations of successful business models.
What is a business model?
Simply put, a business model is a set of assumptions about who your customers are, what you offer them, how your offerings deliver value to your customers, what it costs you to create those offerings, and how you generate and sustain profit. It’s a structured blueprint for an organization to follow in order to succeed at its core business.
At least it used to be. Today, that’s no longer necessarily true. In a marketplace that changes faster than ever, new technologies open new possibilities. They may allow you to pursue your core business more successfully, but they may also upend your preconceptions about what your core business really is. And that means rethinking not just the structure of your business model, but the concept of a “business model” itself.
Disrupting business assumptions
To learn more about how exponential technology will affect business and life, see Digital Futures in the Digitalist Magazine.
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About Dan Wellers
Dan Wellers is the Digital Futures Global Lead and Senior Analyst at SAP Insights.