Project Description

Book Review

How to create new market space in established industries by breaking the rules

By Constantinos Markides, 2008

Costas Markides makes a startling observation: big, established firms tend to fail in pioneering new business models in their industry. This he attributes to the difficulty in navigating a nascent idea through a thicket of existing corporate culture and bureaucracy. From the viewpoint, we get this very readable book on creating and implementing (the nine months of gestation followed by unimaginable offshoots) new business models.

This is written with a slightly academic flavour, with numerous useful references to previous literature but it does lack the slickness of business tomes written across the Atlantic. Nonetheless, a very substantial work sharing how to create a new business model and then to implement it.

Content includes:

  • The innovation is in the business model
  • Discovering new business models (Ed: quite excellent)
  • Creativity in not enough
  • Using dual business models
  • Separation is not enough
  • Responding to business model innovation
  • Rethinking innovation in the big firm recommends this book for:

  • A powerful checklist of action steps to generate new business models
  • And reminding us that implementation– follow through, follow through– is paramount but often overlooked.
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For more information on the creation and implementation of business models, please click HERE.