Organizations are being encouraged to take an interest in business model innovation for three reasons: Please select all that apply.
A) Product life cycles
B) Organizational values can adapt
C) Competition from unexpected sources
D) Disruptions from competitors

Question

Quizplus · Accepted Answer

Product life cycles are shortening, requiring innovation in business models. Competition can now come from unexpected sources due to technological advancements and global connectivity, necessitating a fresh approach to business models. Disruptions from competitors, especially those leveraging new technologies or innovative strategies, also drive the need for business model innovation to stay competitive. Organizational values adapting is more about internal culture and ethics rather than a direct reason for business model innovation.

Organizations Are Being Encouraged to Take an Interest in Business