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Essential product management skills
How to work effectively with cross-functional teams
How to identify and prioritize customer needs
Many new models offer products or services that are better tailored than the dominant models to customers’ individual and immediate needs. Companies often leverage technology to achieve this at competitive prices.
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The researchers looked for recurring features in the models and found six: personalization, a closed-loop process, asset sharing, usage-based pricing, a collaborative ecosystem, and an agile and adaptive organization. No model displayed all of them but having a higher number of f...
Many models replace a linear consumption process (in which products are made, used, and then disposed of) with a closed-loop, in which used products are recycled. This shift reduces overall resource costs.
Innovators sometimes use technology to move away from traditional hierarchical models of decision making in order to make decisions that better reflect market needs and allow real-time adaptation to changes in those needs. The result is often greater value for the customer at less cost to the com...
Definitions of the “business model” vary, but most people would agree that it describes how a company creates and captures value. The features of the model define the customer value proposition and the pricing mechanism, indicate how the company will organize itself and whom it will partner with ...
Some models charge customers when they use the product or service, rather than requiring them to buy something outright. The customers benefit because they incur costs only as offerings generate value; the company benefits because the number of customers is likely to grow.
Some innovations are successful because a new technology improves collaboration with supply chain partners and helps allocate business risks more appropriately, making cost reductions possible.
Some innovations succeed because they enable the sharing of costly assets—Airbnb allows homeowners to share them with travellers, and Uber shares assets with car owners. Sometimes assets may be shared across a supply chain. The sharing typically happens by means of two-sided online marketplaces t...
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This digital revolution is giving rise to new kinds of entrepreneurship. New technologies are amplifying and accelerating each other.
There will be entrepreneurs who focus on inventing new digital technologies, those who use existing technology to disrupt old business models an...
Proprietary technology is a great advantage on which you can build a monopoly business because it makes it difficult for other companies to replicate your product.
However, for proprietary technology to offer an advantage, it needs to be 10x better than existing sol...
Trendsetter: Developing entirely new products or services that will continue to be in high demand post-pandemic.
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