Innovation in Business Model

Innovation in business models refers to developing new ways for a company to create, deliver, and capture value. In the context of incremental innovation management, this means making small, gradual improvements to existing processes, products, or services. For example, a company might enhance its subscription service by adding features, improving customer support, or streamlining the ordering process. These incremental changes can lead to increased customer satisfaction and loyalty, ultimately boosting profitability without completely overhauling the existing business model. It's about refining and evolving what works rather than starting from scratch.