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Think About New Ways to Deliver the Benefits

With rapidly advancing technology, it’s increasingly difficult to see where the competition is coming from. Look at the rise of Airbnb and Uber as completely new business models that have shaken the markets they operate in to the core. So, make sure you have a lens on how new technologies and business models could affect competition in your world, or provide you with new opportunities if you are looking at the world from an eyes-wide-open, benefit standpoint.

Challenge 4.1

So here’s the challenge. You may wish to build on work you did in Chap. 2 or start from scratch. With a group of your colleagues discuss and record:

  • • Examples of companies that have met a similar fate to US railroads and the Boston Ice Company.
  • • How many of these companies are in your industry?
  • • What key benefits are your customers looking for you to deliver?
  • • Who competes with you to deliver these benefits?
  • • And can you think of some new ways or business models that could emerge to improve the way the benefits could be delivered?
  • • Could your company develop any of these potential new business models?
 
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