Business Model Innovation in Services

Business Model Innovation in Services refers to the process of creating or changing the way a service is offered to better meet customer needs, improve efficiency, or generate revenue. This can involve introducing new service offerings, adopting different pricing strategies, or changing how services are delivered, such as using technology or partnerships. The goal is to differentiate from competitors, increase customer satisfaction, and adapt to changing market conditions. By innovating the business model, companies can enhance their value proposition and ensure long-term success in the service industry.