Reinventing Your Business Model Research Assignment

Reinventing your Business Model
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Reinventing your Business Model
In the article, the authors discuss the importance of reinventing the business model of an organization when its aspects are not performing as expected. They also note that not all well-established organizations take the efforts of reinventing their business models because they do not understand their current models to know whether they will support or hinder a new idea. Consequently, they do not know how to reinvent their existing models and when they should do so.
In "Reinventing Your Business Model," the authors discusses what organizations need to do to reinvent their business models. When reinventing a business model, the focus should be on the needs of the customers. This will solve a problem that has remained unsolved for long as it gives the customers a new base. Therefore, for organizations to reinvent their business models, they should think ...