What is Business Model Transformation?
Business model transformation refers to the process of altering the fundamental way a company operates and delivers value to customers, in order to improve its performance,
competitiveness and adapt to changing market conditions.
It involves rethinking the company's strategy, operations, financials, and organisational structure, in order to create a new and more effective business model. The goal is to create new sources of revenue, lower costs, and increase the overall value the company provides to its customers and stakeholders.
What is a Business Model?
A business model is a conceptual framework that outlines how a company creates, delivers, and captures value. It defines the products or services a company offers, the target customers it serves, the channels through which it reaches those customers, and the revenue streams it generates. The business model outlines the underlying logic of how a company operates, generates revenue, and grows over time. It is a key element of a company's overall strategy and plays a crucial role in its success or failure.
New businesses often seek to disrupt existing markets by introducing new and innovative business models. These new models can offer unique value propositions, reach customers in new ways, and generate revenue in ways that traditional businesses cannot.
Examples of new types of business models include:
Subscription-based models, where customers pay a recurring fee for access to a product or service
Platform-based models
Platform-based models are where a company creates an ecosystem of buyers and sellers and takes a commission on transactions
Sharing economy models
Sharing economy models are where individuals share resources, such as cars or homes, through an online platform
Freemium models
Freemium models are where a basic version of a product or service is offered for free, with premium features available for a fee
Crowdfunding models
Crowdfunding models are where a business raises funds from a large number of people, typically via the internet
There are many more types of business model. Those listed above and others have the potential to shake up traditional industries and create new market opportunities, but they also bring new challenges, such as regulatory hurdles, changing customer behaviours, and intense competition.
Technology Enabled Business Models
Technology-enabled business models are business models that leverage digital technologies to create new value propositions for customers and generate new revenue streams. These business models often rely on the use of data, analytics, and automation to increase efficiency, improve customer experiences, and create new products and services.
Examples of technology-enabled business models include:
Platform business models: Platforms such as Uber, Airbnb, and Amazon leverage digital technologies to connect buyers and sellers, hosts and guests, or service providers and customers, creating new marketplaces and revenue streams.
Subscription business models: Companies such as Netflix, Spotify, and Adobe use subscription-based models to offer access to digital content or software as a service, providing recurring revenue streams.
E-commerce business models: Retailers such as Amazon, Alibaba, and Zara use e-commerce business models to sell products online, using data and analytics to personalize the shopping experience and improve supply chain efficiency.
Freemium business models: Companies such as Dropbox, LinkedIn, and Hootsuite use freemium business models to offer a basic service for free and charge for premium features, using data and analytics to convert free users to paying customers.
Data-driven business models: Companies such as Google, Facebook, and Twitter use data-driven business models to monetize user data, providing targeted advertising and insights to advertisers.
Technology-enabled business models often disrupt traditional business models and create new opportunities for growth and innovation. By leveraging digital technologies to create new value propositions, organizations can stay ahead of the curve and create sustainable competitive advantages. Learn more about technology enabled business models.
7 Reasons For Business Model Transformation
A business may decide to undergo a business model transformation for a variety of reasons, including:
1. Market disruption
Market disruption refers to the phenomenon where an emerging technology or business model disrupts an established market or industry, leading to significant changes in the competitive landscape and the way business is conducted. The market or industry changes, and the older business model is no longer effective.
Disruptive technologies or business models often challenge established market leaders by providing a new and innovative way to deliver products or services that meets customer needs in a more efficient, convenient, or cost-effective way. Disruptors often leverage digital technologies, data and analytics, and platform-based business models to create new value propositions for customers and generate new revenue streams.
Market disruption can be a double-edged sword, as it can lead to the downfall of established companies and industries, but it can also create new opportunities for growth and innovation. By keeping up with emerging technologies and business models and embracing innovation, companies can position themselves to be disruptors rather than the disrupted.
2. Increased competition
Increased competition refers to the situation where a company faces more competitors in the marketplace, either from new entrants or from existing competitors who have expanded their offerings or improved their value propositions.
The emergence of new technologies, changes in consumer behaviour, and global market dynamics are some of the factors that can lead to increased competition. In a highly competitive environment, companies may need to invest more in marketing, product development, and customer service to differentiate themselves from their competitors and maintain their market share.
To stay competitive in a dynamic market, companies need to stay agile, be open to change, and continually adapt their strategies to meet the evolving needs of their customers. This may involve investing in new technologies, expanding into new markets, or developing new products and services that offer unique value propositions. By staying ahead of the competition and focusing on delivering value to their customers, companies can maintain a competitive edge and succeed in the marketplace.
3. Declining sales
Declining sales refer to the situation where a company experiences a decrease in the volume or value of its sales over time. This can be caused by a variety of factors, such as changes in consumer preferences, increased competition, economic downturns, and supply chain disruptions.
Declining sales can have significant negative impacts on a company, such as reduced revenue, lower profit margins, and decreased market share. This can lead to a vicious cycle, where lower sales lead to reduced investment in marketing and innovation, which further depresses sales.
By taking proactive measures to address declining sales, companies can turn the situation around and regain their competitive edge. This may require a shift in strategy, investment in new capabilities, and a willingness to embrace change and innovation.
4. Technological advancements
New technologies have emerged that enable companies to reach customers and operate more efficiently, and the current business model is not taking advantage of these advancements.
Technological advancements can occur across a range of fields, such as information technology, biotechnology, materials science, energy, and transportation. They can involve new discoveries or breakthroughs, as well as incremental improvements to existing technologies.
Technological advancements can have significant impacts on society and the economy, creating new opportunities for innovation and growth, as well as challenges and disruptions. To leverage the benefits of technological advancements, companies and individuals need to stay up to date with emerging technologies, be willing to experiment and innovate, and be adaptable to change.
5. Changing customer needs
The company's target customers' needs, and behaviours have changed, and the current business model is no longer meeting their needs.
Changing customer needs refer to the situation where the preferences, expectations, or demands of customers evolve over time due to factors such as changes in technology, lifestyle, demographics, or societal trends. As customers become more informed and empowered, they expect businesses to meet their needs in more personalized and customized ways, and to offer seamless experiences across all touchpoints.
Changing customer needs can have a significant impact on businesses, especially those that fail to adapt to these changes. To stay relevant and competitive, businesses need to be agile and able to respond to changing customer needs by developing new products, services, and experiences that meet evolving expectations.
By prioritising customer needs and staying attuned to changing trends, businesses can maintain their competitive edge and build stronger relationships with their customers.
6. Shifting regulatory environment
The company is facing new regulations or changes in existing regulations that impact its business model.
A shifting regulatory environment refers to the situation where there are changes in the laws, rules, or policies that govern a particular industry or sector. These changes can be driven by a range of factors, such as changes in political leadership, shifts in public opinion, or new technologies and business models that disrupt established regulatory frameworks.
A shifting regulatory environment can have significant impacts on businesses, especially those that operate in highly regulated industries such as finance, healthcare, and energy. Changes in regulations can create new opportunities or pose new challenges for businesses, depending on their ability to adapt and comply with new requirements.
By staying attuned to changes in the regulatory environment and adopting a proactive and collaborative approach to compliance, businesses can position themselves to succeed in the marketplace and take advantage of new opportunities.
7. Mergers and acquisitions
The company has undergone a merger or acquisition and needs to integrate the business models of the two companies.
Mergers and acquisitions (M&A) refer to the process of combining two or more companies through a variety of financial transactions, such as mergers, acquisitions, consolidations, or tender offers. The goal of an M&A transaction can be to achieve various strategic objectives, such as expanding the company's geographic reach, gaining access to new markets, achieving economies of scale, or acquiring new technology or talent.
M&A transactions can have significant impacts on both the companies involved and the broader market. On the one hand, M&A transactions can lead to increased efficiencies, cost savings, and other synergies that can benefit the companies and their stakeholders. On the other hand, M&A transactions can also lead to job losses, cultural clashes, and other negative impacts, especially if the companies involved are unable to successfully integrate their operations and cultures.
M&A transactions can take many forms, including horizontal mergers, where companies in the same industry merge; vertical mergers, where companies in different stages of the supply chain merge; and conglomerate mergers, where companies in unrelated industries merge.
The ultimate goal of a business model transformation is to create a new and more effective way for the company to operate, generate revenue, and grow over time. It requires a strategic and well-planned approach, as well as a willingness to take risks and embrace change.
Business Transformation Versus Business Model Transformation
Business Transformation and Business Model Transformation are similar but distinct concepts. This results in a lot of people using the terms interchangeably and not understanding how they differ.
Business Transformation refers to a comprehensive change program aimed at improving an organisation's overall performance and competitiveness. It can encompass changes to the company's strategy, operations, technology, culture, and structure. Business transformation often requires a significant effort, resources, and time, and affects many areas of the company.
Business Model Transformation, on the other hand, is a specific type of transformation focused on changing the way a company creates, delivers, and captures value. It is a more targeted effort to improve the company's business model, with the goal of generating new sources of revenue, reducing costs, and increasing the overall value the company provides to its customers and stakeholders.
In short, business transformation is a broader, more comprehensive effort to improve the entire organisation, while business model transformation is a specific type of transformation aimed at improving the company's business model.
Types of Business Transformation
There are several types of business transformation, which we'll consider below. Note that this is about business transformation types. Not Business model types. We'll talk about business model types later.
Digital Transformation
Digital transformation is the type of transformation that is focused on leveraging digital technologies to transform the company's operations, reach customers in new ways, and generate new sources of revenue. It may involve changes to the company's technology systems, customer engagement strategies, and revenue models.
Operational Transformation
Operational transformation: This type of transformation is focused on improving the efficiency and effectiveness of the company's operations. It may involve changes to the company's supply chain, production processes, and technology systems.
Organisational Transformation
Organisational transformation: This type of transformation is focused on changing the company's culture, structure, and processes to improve its overall performance and competitiveness. It may involve changes to the company's management systems, decision-making processes, and employee engagement strategies.
Market-Focused Transformation
Market-focused transformation: This type of transformation is focused on entering new markets, expanding the company's reach, and increasing its market share. It may involve changes to the company's target customer segments, marketing strategies, and distribution channels.
Cultural Transformation
Cultural transformation: This type of transformation is focused on changing the company's culture and values to align with its overall strategy and goals. It may involve changes to the company's leadership, communication styles, and employee engagement strategies.
Business Model Transformation
Business model transformation: This type of transformation is focused on changing the way a company creates, delivers, and captures value. It is a targeted effort to improve the company's business model, with the goal of generating new sources of revenue, reducing costs, and increasing the overall value the company provides to its customers and stakeholders.
Each type of transformation has its own set of challenges and opportunities, and companies must choose the type of transformation that is most appropriate for their specific needs and goals. It's also important to note that multiple types of transformation may occur simultaneously, as companies seek to adapt to changing market conditions and improve their overall performance.
Business Model Innovation
Business model transformation cannot occur without innovation, however, it requires the proper form of innovation as the term “innovation” often elicits thoughts of product innovation. Some organisations tend to get caught up in the thrill of developing new products, frequently neglecting business model innovation.
Business model innovation refers to the process of creating and implementing new or significantly improved ways of doing business in order to gain a competitive advantage. This can include changes to a company's revenue streams, value proposition, customer segments, distribution channels, or other aspects of the business model.
The goal of business model innovation is often to create new sources of revenue, increase efficiency, or improve customer value. This can be done by exploring new markets, developing new products or services, or finding new ways to deliver existing products or services.
Business model innovation can be a key driver of growth and success for companies, especially in rapidly changing or disruptive industries.
Business model innovation is gaining recognition as a crucial aspect of strategic management that contributes to creating significant competitive advantages for an organisation.
Business Model Innovation Benefits
Business model innovation is important because it allows companies to adapt to changing market conditions and customer needs and create new sources of revenue and growth. In today's fast-paced business environment, companies that are able to continuously innovate and evolve their business models are more likely to stay competitive and successful.
5 Benefits of Business Model Innovation
There are several reasons why business model innovation is crucial for companies:
1. Helps companies stay ahead of the competition
By continuously innovating their business models, companies can differentiate themselves from their competitors and create a competitive advantage.
2. Allows companies to explore new markets
Business model innovation can help companies identify new market opportunities and create new revenue streams.
3. Helps companies adapt to changing customer needs
By understanding and responding to changing customer needs, companies can improve customer value and loyalty.
4. Enables companies to be more agile and efficient
Business model innovation can help companies streamline their operations and reduce costs, which can improve overall efficiency and profitability.
5. Helps companies to be more resilient
A diversified business model with multiple revenue streams can help companies to be more resilient in the face of market disruptions or economic downturns.
In summary, business model innovation is important because it allows companies to stay competitive and adapt to changing market conditions, which is essential for long-term success.
Business Model Innovation Process
Business model innovation is the development of new business models, the modification of existing business models, and the change from one business model to another.
It's increasingly seen as a source for superior organisational performance and competitive advantage that is complementing or even partly replacing organisational strategy.
The capability to move into new business models rapidly and successfully is an important source of competitive advantage and a key leverage to improve the performance of companies.
Business Model Innovation in 10 Steps
Business model innovation consists of 10 iterative phases. An organisation undergoing this process may revisit stages and repeat or skip steps as needed, and may repeat the process to respond to new opportunities and challenges in its environment. The steps are:
1. Ideation
The purpose of the business model innovation and its key stakeholders are defined, and the value proposition and first conceptual ideas are ideated.
2. Concept design
A first rough conceptualisation of the key business model elements is developed and documented.
3. Virtual prototyping
A range of prototypes is generated and revised to refine and communicate the business model concept. The phase also comprises benchmarking with solutions and concepts from other parties.
4. Experimenting:
The concept's crucial assumptions and variables are assessed through randomised controlled trials and simulations and by conducting field experiments.
5. Detailed design
A comprehensive analysis and examination of all the components of the business model and the connections between these components is performed.
6. Piloting
The entire idea is validated by launching a preliminary limited iteration of the business model in a portion of the target audience.
7. Launch
The implementation of the business model is spread throughout the relevant organisational units and the designated target market.
8. Monitoring
The regular collection and analysis of data and metrics relevant to the business model, such as revenue, customer satisfaction, market share, and operating costs, provide insights into the performance of the business model.
9. Diversification
The process of expanding the existing business model can take various forms, including vertical, horizontal, or geographic diversification.
10. Refinement
Fine-tuning and improving the business model to achieve better performance and results involves an examination to identify areas for improvement, such as increasing efficiency, reducing costs, improving customer satisfaction, or increasing revenue.
The process of innovating a business model may have to be repeated if significant changes are needed.
Product, Process, and Business Model Innovation
Product Innovation
Product innovation involves either the development of a new product, or improvements to an existing product. By revolutionising the way humans interact with mobile devices, Apple was a pioneer of product innovation. But even the mighty Apple has faced its fair share of challenges in this space. Because while bright ideas are one thing, effective management to make them a successful business reality is another matter.
Not so long-ago Apple was frustrated by seeing its teams reinvent the wheel every time a new product was launched. As is the case in many organisations, teams were often working in silos. One product team's quick decision would impact the work of a parallel team, resulting in one team destroying the progress of another. There was an abundance of great ideas at Apple, but a significant lack of great management. Apple has since improved performance in this space with ANPP (Apple New Product Process), but that still leaves thousands of other companies struggling to translate their ideas into income.
Process Innovation
Process innovation involves the implementation of new or improved production and delivery methods to reduce a company's costs or improve a company’s production levels. It can include changes across all value chain activities. The Ford Motor Company demonstrated process innovation more than a hundred years ago when it introduced the first moving assembly line, reducing assembly time per vehicle from 12 hours to around 90 minutes. A more modern example is using live data to plan production runs. Process innovations are typically far less visible to customers than product innovations. As with product innovation, executing process innovation projects and programmes is a struggle for many that lack the right management capabilities.
Business Model Innovation
Business model innovation includes changes in how a product is brought to market and is broader and more complex than product or process innovation. Rather than focusing on the introduction of a new or improved product or service, business model innovation relates to the way products and services are brought to market.
50 Examples of Business Model Transformation
Here are a few examples of business model transformations:
Netflix Business Model Transformation
Netflix transformed its business model from a DVD rental-by-mail service to a streaming video service, leveraging the growth of the internet and the decline of physical media. This transformation allowed the company to reach a much larger customer base and generate new sources of revenue.
Amazon Business Model Transformation
Amazon transformed its business model from an online bookstore to an e-commerce platform, offering a wide range of products and services to customers. This transformation allowed the company to become a major player in the retail industry and generate new sources of revenue through its platform services.
Apple Business Model Transformation
Apple transformed its business model from a computer manufacturer to a consumer electronics company, offering products such as the iPhone and iPad. This transformation allowed the company to reach a much larger customer base and generate new sources of revenue from mobile devices and services.
Uber Business Model Transformation
Uber transformed its business model from a ride-hailing service to a transportation platform, offering a range of services including ride-hailing, food delivery, and electric bike rentals. This transformation allowed the company to reach a wider customer base and generate new sources of revenue through multiple services.
Walmart Business Model Transformation
Walmart transformed its business model from a brick-and-mortar retail store to an omni-channel retailer, offering customers the ability to shop both in-store and online. This transformation allowed the company to reach a wider customer base and generate new sources of revenue through e-commerce.
JPMorgan Chase Business Model Transformation
JPMorgan Chase transformed its business model from a traditional commercial bank to a financial services company, offering a range of products and services including investment banking, asset management, and private banking.
Salesforce Business Model Transformation
Salesforce transformed its business model from a customer relationship management (CRM) software company to a cloud-based platform for customer engagement, offering a range of products and services including marketing automation, customer service, and e-commerce.
Airbnb Business Model Transformation
Airbnb transformed its business model from a peer-to-peer room rental service to a travel platform, offering a range of services including home rentals, experiences, and travel activities.
Spotify Business Model Transformation
Spotify transformed its business model from a music download service to a streaming platform, offering customers access to millions of songs and podcasts.
Tesla Business Model Transformation
Tesla transformed its business model from an electric car manufacturer to a clean energy company, offering a range of products and services including solar panels, batteries, and electric vehicle charging stations.
Dropbox Business Model Transformation
Dropbox transformed its business model from a file-sharing service to a collaboration platform, offering a range of products and services for businesses, including file storage, collaboration tools, and virtual meetings.
Square Business Model Transformation
Square transformed its business model from a mobile payment processor to a financial services company, offering a range of products and services including point-of-sale systems, invoicing, and cash advances.
Zoom Business Model Transformation
Zoom transformed its business model from a video conferencing tool to a platform for remote work, offering a range of products and services including virtual meetings, webinars, and team collaboration.
Grubhub Business Model Transformation
Grubhub transformed its business model from an online food ordering platform to a full-service food delivery company, offering a range of products and services including food delivery, pick-up, and catering.
Procter & Gamble Business Model Transformation
Procter & Gamble transformed its business model from a traditional consumer goods company to a brand management company, relying on marketing and innovation to drive growth and profitability.
Microsoft Business Model Transformation
Microsoft transformed its business model from a software company to a cloud-based platform and services company, offering a range of products and services including cloud computing, artificial intelligence, and virtual reality.
Facebook Business Model Transformation
Facebook transformed its business model from a social networking site to a digital advertising platform, leveraging user data to target advertising to specific audiences.
Alibaba Business Model Transformation
Alibaba transformed its business model from a business-to-business e-commerce platform to a digital commerce company, offering a range of products and services including retail e-commerce, cloud computing, and financial services.
Instacart Business Model Transformation
Instacart transformed its business model from a grocery delivery service to a platform connecting shoppers with local grocery stores, offering a range of products and services including same-day delivery and pick-up.
Peloton Business Model Transformation
Peloton transformed its business model from a high-end stationary bike manufacturer to a digital fitness platform, offering a range of products and services including home exercise equipment, virtual fitness classes, and nutrition coaching.
Google Business Model Transformation
Google transformed its business model from a search engine to a technology company offering a range of products and services including advertising, cloud computing, and hardware.
Deliveroo Business Model Transformation
Deliveroo transformed its business model from a restaurant delivery service to a food delivery platform, offering a range of products and services including restaurant delivery, grocery delivery, and alcohol delivery.
Adobe Business Model Transformation
Adobe transformed its business model from a software company offering individual creative applications to a cloud-based creative platform, offering a range of products and services including photo and video editing, document management, and digital marketing.
Etsy Business Model Transformation
Etsy transformed its business model from an online marketplace for handmade goods to a global platform for creative businesses, offering a range of products and services including handmade goods, vintage items, and craft supplies.
Square Business Model Transformation
Square transformed its business model from a mobile payment processor to a financial services company, offering a range of products and services including point-of-sale systems, invoicing, and cash advances.
Zillow Business Model Transformation
Zillow transformed its business model from a real estate listing site to a full-service real estate platform, offering a range of products and services including home listings, mortgage loans, and home improvement services.
Stripe Business Model Transformation
Stripe transformed its business model from a payment processor to a financial infrastructure platform, offering a range of products and services including payment processing, subscriptions, and lending.
Postmates Business Model Transformation
Postmates transformed its business model from a food delivery service to a delivery platform, offering a range of products and services including food delivery, grocery delivery, and alcohol delivery.
Wix Business Model Transformation
Wix transformed its business model from a website builder to a full-service website and online marketing platform, offering a range of products and services including website building, e-commerce, and digital marketing.
Shopify Business Model Transformation
Shopify transformed its business model from an e-commerce platform to a full-service commerce platform, offering a range of products and services including e-commerce, point-of-sale systems, and financial services.
Tencent Business Model Transformation
Tencent in China transformed its business model from an instant messaging platform to a technology conglomerate, offering a range of products and services including social media, online payments, gaming, and cloud computing.
Flipkart Business Model Transformation
Flipkart in China transformed its business model from an online bookstore to an e-commerce giant, offering a range of products and services including retail, fashion, and home goods. (India)
Alibaba: Alibaba transformed its business model from an online marketplace to a technology conglomerate, offering a range of products and services including e-commerce, cloud computing, and digital media.
Naspers Business Model Transformation
Naspers in South Africa transformed its business model from a media company to a technology investment firm, offering a range of products and services including e-commerce, online classifieds, and internet services.
JD.com Business Model Transformation
JD.com in China transformed its business model from an online retailer to a technology-driven retailer, offering a range of products and services including retail, logistics, and financial services.
Mercado Libre Business Model Transformation
Mercado Libre in Argentina transformed its business model from an online marketplace to a digital commerce platform, offering a range of products and services including retail, payments, and shipping.
Rocket Internet Business Model Transformation
Rocket Internet in Germany transformed its business model from an incubator to a technology investment firm, offering a range of products and services including e-commerce, online classifieds, and internet services.
SoftBank Business Model Transformation
SoftBank in Japan transformed its business model from a telecommunications company to a technology investment firm, offering a range of products and services including telecommunications, e-commerce, and internet services.
Baidu Business Model Transformation
Baidu in China transformed its business model from a search engine to a technology company, offering a range of products and services including search, online advertising, and artificial intelligence.
Rakuten Business Model Transformation
Rakuten in Japan transformed its business model from an online marketplace to a technology company, offering a range of products and services including e-commerce, mobile payments, and digital media.
Line Business Model Transformation
Line transformed its business model from a messaging app to a technology company, offering a range of products and services including mobile messaging, online payments, and mobile gaming. (Japan)
Wizz Air Business Model Transformation
Wizz Air transformed its business model from a low-cost airline to a hybrid airline, offering a range of products and services including low-cost and full-service flights. (Hungary)
Zalando Business Model Transformation
Zalando transformed its business model from an online retailer to a fashion platform, offering a range of products and services including retail, logistics, and fashion content. (Germany)
Swiggy Business Model Transformation
Swiggy transformed its business model from a food delivery service to an on-demand platform, offering a range of products and services including food delivery, grocery delivery, and hyperlocal services. (India)
Grab Business Model Transformation
Grab transformed its business model from a ride-hailing service to a super-app, offering a range of products and services including ride-hailing, food delivery, and mobile payments. (Singapore)
Royal Dutch Shell Business Model Transformation
Royal Dutch Shell transformed its business model from an oil and gas company to an energy company, offering a range of products and services including oil and gas, renewables, and electric vehicle charging. (Netherlands)
Carrefour Business Model Transformation
Carrefour transformed its business model from a brick-and-mortar retailer to an omnichannel retailer, offering a range of products and services including brick-and-mortar retail, e-commerce, and home delivery. (France)
Metro Business Model Transformation
Metro transformed its business model from a wholesaler to an omnichannel retailer, offering a range of products and services including wholesale, e-commerce, and brick-and-mortar retail. (Germany)
Tesco Business Model Transformation
Tesco transformed its business model from a brick-and-mortar retailer to an omnichannel retailer, offering a range of products and services including brick-and-mortar retail, e-commerce, and home delivery. (UK)
Tata Group Business Model Transformation
Tata Group transformed its business model from a conglomerate to a technology-focused conglomerate, offering a range of products and services including steel, automobiles, information technology, and engineering services. (India)
These are just 50 examples of companies that have undergone successful business model transformations. The key to a successful transformation is to identify new opportunities, rethinking existing value propositions, and embracing new technologies to create a more innovative and profitable business model.
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