In times when everything gets disrupted, your business boundaries defined by industry or products might lead to rapid value erosion. You face the risk to participate in a shrinking space and to fight hard trying to stay afloat.
In the same time, new types of competition with new models might disrupt your industry, eat a significant portion of the cake, as we know it from many sectors. Those might unlock new spaces that reduce yours to less relevance.
Start by refining your purpose to make your new space larger or more unique, make it ‘whiter’ or ‘bluer’. Then comes the design of new business models for experimentation: subscription, platform-based, data centric models etc.
Last but not least, new strategies is also about understanding how competition is reinvented, where competitors might become best partners, partners might become competitors, customers best contributors. That leads to the thinking around business ecosystems design, to create augmented value, with new components and more digital to the core.
Wondering how that applies to your business and how to jump forward ?