Most business model innovation involves novel approaches to creating and/or capturing value within an industry.

Question

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Business model innovation typically involves finding new ways to create value for customers or capture value for the company within the context of an industry or market. This can involve developing new products or services, implementing different distribution channels, using innovative pricing strategies, and more. By doing so, innovative companies are often able to differentiate themselves from competitors and gain a competitive advantage in their industry.

Most Business Model Innovation Involves Novel Approaches to Creating And/or