What is a business model innovation?Multiple choice question.a sales model that sells related products or services in tandema useful and novel way to provide value to customersa model that allows customers to purchase additional servicesa way of providing paying customers with additional free perks
Question
What is a business model innovation?Multiple choice question.a sales model that sells related products or services in tandema useful and novel way to provide value to customersa model that allows customers to purchase additional servicesa way of providing paying customers with additional free perks
Solution
The correct answer is: a useful and novel way to provide value to customers.
Business model innovation involves changes to the way value is created and delivered in a business. It's about finding a new, more effective way of doing business that makes a company stand out from its competitors, often by providing superior value to customers. This can involve changes to products or services, but it can also involve changes to other aspects of the business, such as its relationships with suppliers or customers, or its internal processes.
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