Business Model Innovation

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A New, Analytics-Based Era of Banking Dawns at State Street

Change does not come easy to established institutions, particularly when they count their longevity in centuries rather than decades. Yet in the wake of the global financial crisis, State Street Bank has elected to revamp 200+ years (and counting) of banking practices in favor of a data-driven, analytics-based business model. In doing so, it created a new business, SSGX — and initiated significant cultural changes.

Image courtesy of Greif.

The Benefits of Sustainability-Driven Innovation

Results from the fourth year of MIT SMR’s research collaboration with the Boston Consulting Group have found that managers who say sustainability has caused their organization to change its business model are also more likely to say that the organization’s sustainability activities have added to profits. Respondents to the survey who changed their business model also generated profits from their sustainability-related activities.

Image courtesy of Amazon.

Creating Value Through Business Model Innovation

Companies are increasingly turning toward business model innovation as an alternative or complement to product or process innovation. Changes to business model design can be subtle; even when they might not have the potential to disrupt an industry, they can still yield important benefits to the innovator. The article offers a number of examples of business model innovation and poses six questions for executives to consider when thinking about business model innovation.

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Five Ways That Sustainability Commitment Is Up — Dramatically

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Sixty-eight percent of respondents to MIT SMR’s third annual global survey say their organizations increased their commitment to sustainability in the past year. That’s a dramatic increase from 2009, when only a quarter of respondents said that. Those are among first highlights featured in the current issue of MIT SMR.

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Mitigating Climate Risks: The Business Challenge

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Think about the challenges involved in combating climate change, and issues like international cooperation, public opinion, public policy and technological innovation may all come to mind. But there's another key topic that may not come to mind quite as readily -- and that's a business challenge.

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Innovating with a community

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Erik Simanis and Stuart Hart offer an interesting perspective on innovation in an article in the the new Summer 2009 issue of MIT Sloan Management Review.  In particular, they offer a vision of a world in which businesses and communities are more closely intertwined.

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How to find opportunity in a downturn

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Bhaskar Chakravorti of Harvard Business School offers insights about entrepreneurship and innovation during a downturn,

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A company without headquarters

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The Economist this week highlights Lenovo, the Chinese computer company that some years back bought IBM's PC business, as an example of the new era of business innovation emerging from developing economies.

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