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.

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How to Win With a Multisided Platform Business Model

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“Increasing awareness of business models and the spectacular MSP successes from the past decade have prompted many entrepreneurs and investors to attempt building or identifying ‘the next eBay,’” writes Andrei Hagiu, an associate professor in the strategy group at the Harvard Business School. But successful MSPs such as PayPal, eBay and Alibaba are the exception rather than the rule. Haigi offers four observations about what new companies can do to position themselves to be among the winners rather than the losers.

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Video: New Opportunities in the Transformed Music Industry

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It’s been a difficult decade for any company that’s been in the recorded music business. But at Universal Music, the company is using external partnerships, technology, new platforms and “democratized data” to surmount challenges in one of the first industries to go digital. Universal’s Rob Wells explains how he and his colleagues have dealt with massive change and how they take advantage of new opportunities to put the company at the forefront of the industry landscape.

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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.

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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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