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Business Model Innovation
The process of changing a company�s business model to create new value, often in response to market shifts or technological advancements.
Implications
The process of creating new or modifying existing business models to improve competitive advantage, adapt to market changes, or enter new markets.
Example
Example: Airbnb�s business model innovation allowed it to disrupt the traditional hotel industry by offering a platform for short-term home rentals.
Related Terms
Different from product innovation, which focuses on new products or features, business model innovation involves changing the way a company operates and makes money.
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